CRU
August 13, 2024
Written by CRU
Specialty steel maker Metallus, formerly known as TimkenSteel, has officially begun work on a bloom reheating furnace at its Faircrest plant in Ohio.
Much of the $100+ million cost is being met by the US defense department as the steel produced at the mill will be used in 155mm artillery for the army. The furnace’s production start-up is expected late 2025.
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.
Global recycler Sims' profits increase in fiscal year that ended in June.