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    CRU

    January 23, 2024

    CRU: Tata Steel to shut down British BFs

    India-based Tata Steel is set to close down the two blast furnaces at its loss-making Port Talbot works in South Wales, UK, during a four-year switch to EAF-based steelmaking. Under the proposals, 2,800 jobs are at risk.

    Tata Steel states that the plan is designed to turn around the profitability of the loss-making plant and move to a sustainable business producing green steel. Tata Steel estimates the plan, when enacted, would reduce Tata Steel UK’s CO2 emissions by 5 million metric tons (mt) per year and overall UK country emissions by about 1.5%.

    Latest in CRU

    CRU: HR coil futures re-price 2027 forward curve

    CME Group’s hot-rolled coil futures have jumped higher as the loss of a reheating line at a large Southern mill have renewed domestic production issues. At market close on Oct. 12, the Q4'26 futures are now pricing in $1,295 per short ton (st) for HR coil, a month-over-month (m/m) increase of $63/st. For 2027, the forward curve is up $80 /st vs. September, at $1,207/st. For November 2026 through March 2027, prices are at an average just above $1,300/st.