Steel Products Prices North America
United Taconite Restart Moved Up to August
Written by Sandy Williams
June 9, 2016
Cliffs Natural Resources announced today that it will restart its United Taconite mining facility in August. The restart was originally scheduled for October but will occur two months early due to additional pellet tonnage ordered by US Steel Canada.
Cliffs is revising its 2016 sales volume guidance to 18 million tonnes from 17.5 million tonnes. Production volume has been increased by 500,000 tonnes to 16.5 million tonnes.
Lourenco Goncalves, Cliffs’ Chairman, President and Chief Executive Officer, stated: “The vast majority of the steel companies in North America are currently enjoying stronger order books, and their demand for high quality iron ore pellets from a reliable supplier is increasing. With that, Cliffs’ business continues to gain very positive momentum, with the improvement of the existing business with our long established clients and the addition of new ones.”
“We are very pleased to announce an increase of our pellet supply to U.S. Steel Canada, who became a new Cliffs’ client in 2016. US Steel Canada used to be a captive client of its former parent company U.S. Steel Corporation.
“We are also very pleased to announce a higher sales guidance for 2016, thanks to this new business with U.S. Steel Canada, which came at a higher tonnage than we had previously anticipated. Most importantly, I am happy to bring our entire UTAC team back to work a lot earlier than previously announced last week.”
SMU Note: Steel Market Update will welcome Lourenco Goncalves, Cliffs Chairman, President and CEO, as one of our Steel Summit 2016 keynote speakers. Mr. Goncalves, a highly entertaining speaker will discuss the iron ore markets as well as factors in the world affecting those doing business in North America with those attending our 6th Steel Summit Conference on August 29-31 in Atlanta, Georgia. Details can be found on our website: www.SteelMarketUpdate.com
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Products Prices North America
SMU Price Ranges: HR holds, galv slips amid competing market narratives
SMU’s sheet and plate prices see-sawed this week as hot-rolled (HR) coil prices held their ground while prices for galvanized product slipped.
Nucor carries $875/ton HR list price into week seven
Nucor is keeping hot-rolled (HR) coil prices unchanged again this week, according to its latest consumer spot price (CSP) notice issued on Monday, Oct. 6
SMU Price Ranges: A newsy week sees modest price gains despite a quiet spot market
Market participants predicted that prices should be at or near a bottom. But while most seemed to agree on that point, many also said they saw little upside given a quiet spot market and ongoing concerns about demand.
Nucor increases plate prices by $60/ton
Nucor aims to increase prices for steel plate by $60 per short ton with the opening of its November order book.
Nucor’s $875/ton HR spot price spills into week six
Nucor is keeping hot-rolled (HR) coil prices unchanged again this week, according to its latest consumer spot price (CSP) notice issued on Monday, Sept. 29.