Prices
January 7, 2020
Written by Erik Hedborg
By CRU Senior Analyst Erik Hedborg, from CRU’s Iron Ore Market Outlook
Iron ore prices rose sharply in the past week as Chinese restocking has continued and concerns about a cyclone forming northeast of Pilbara have increased. On Tuesday, Jan. 7, CRU has assessed the 62% Fe fines price at $95.5 /t, up $4.5 /t w/w.
Sheet and plate prices continued to move higher on market dynamics that have carried headlines for much of the second half of the year: scarce spot tons, long lead times, production delays, lean inventories, and stable demand.
Nucor's consumer spot price for hot-rolled increased by $10/st w/w on Monday, Oct. 5 to $1,230 per short ton.
SSAB Americas aims to increase base plate prices by at least $60 per short ton (st), according to a letter sent to customers on Monday.
Nucor said on Thursday evening it plans to increase plate prices by $60 per short ton (st) as it opens its November order book.
Sheet and plate prices continued to inch higher on a combination of scarce spot tons, long lead times, lean inventories, and stable demand.