CRU
November 9, 2021
Written by Erik Hedborg
By CRU Principal Analyst Erik Hedborg, from CRU’s Steelmaking Raw Materials Monitor, Nov. 9
Iron ore prices remain under pressure as Chinese steel production levels remain low and iron ore inventories continue to pile up, both at ports and at steel mills. A price of $92 /dmt is the lowest seen since May 2020, and the 2021 average has now fallen below $170 /dmt.
CRU Research Principal speaks about the implication of Mesabi Metallics' proposed steel mill in Iowa.
CME Group’s HR coil futures have had a volatile stretch over the past few weeks.
Americas wire and cable demand held firm through H1 2026, as data center and energy infrastructure buildouts, driven by wider electrification and power supply investments, more than offset weakness in traditional construction sectors such as residential
For the next month, CRU forecasts that steelmaking raw materials demand will improve as buyers will restock ahead of seasonally stronger steel-demand periods.
CRU: Global finished steel prices have diverged in August, with longs softening while sheet and plate firmed in most regions. Weak construction demand persisted across most longs markets, with the US the notable exception. Higher sheet prices were driven by tightening supply in the US and reduced import attractiveness in Europe, even as APAC sheet prices declined. Plate prices were mostly firmer across APAC, stable to down in Europe, and continued climbing in the US.