Steel Products Prices North America

CRU: Rio Tinto Winds Down Iron Ore Ops in Canada Amid Wildfires
Written by CRU Americas
June 7, 2023
The Iron Ore Company of Canada (IOC) is starting to idle its mine, concentrator and pellet plant near Labrador City because of the impact of wildfires in Quebec province.
The actions follow the Rio Tinto-owned company suspending transport on its 418km Quebec North Shore and Labrador Railway (QNS & L) linking the mine to the Sept-Iles port as fires rage in the Sept-Iles area. Smoke has engulfed vast areas, and the QNS & L railway operations will remain suspended until at least June 9, the company said.
Telecommunications infrastructure and the power line running alongside the track have been damaged and IOC has installed a temporary sprinkler system at a bridge and rail-side tower just north of Sept-Iles as a precaution.
“We have a certain capacity to stockpile up in Labrador City, but at a certain point, if we can’t bring product down to Sept-Iles, we just can’t stockpile forever,” a spokesman was quoted as saying by the Globe and Mail newspaper.
However, as IOC had scheduled its annual maintenance break in the coming days, the impact will be minimized, he also said.
Canada as a whole is experiencing what is regarded as its most destructive spring wildfire season ever, with 164 currently burning across Quebec alone and 114 of them are out of control, according to the provincial government.
Some mineral exploration companies have suspended activities. Oil, forestry and seafood are among other impacted industries.
CRU Americas
Read more from CRU AmericasLatest 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.