Category: CRU

Targets include coal, liquified natural gas, crude oil, and other commodities

USMCA is option 1 but will cost more or not be big enough

Turkish scrap prices showed little change week over week (w/w), with HMS 80:20 and shredded grades assessed at $343 per metric ton (mt) and $357/mt, respectively. Turkish scrap prices remained steady during the third week of 2025, with HMS 80:20 unchanged at $343/mt, while Shredded grades fell edged lower $5/mt to $357/mt based on confirmed […]

Executive orders, LME volatility and more

Coal miners Consol Energy and Arch Resources have completed what they describe as a merger of equals to form Core Natural Resources. Headquartered in Canonsburg, Pa., the new company has the potential to produce 12 million metric tons (mt) per year of metallurgical coal and more than 25 million mt per year of thermal coal, as […]

EU restrictions on Russia, Canadian tariffs, scrap leakage and more

US mill secures $22 M funding for Nexcast project US-based rolling mill, Golden Aluminum, has secured $22.3 million in government funding for its next generation mini mill project. The company was awarded the funding from the US Department of Energy’s Office of Clean Energy Demonstrations initiative at the end of November. Golden Aluminum plans to […]

Pig iron prices declined in all regions as the EU’s 2025 import quota on Russian pig iron has begun, loosening global supply.

A bleak outlook for steel demand has undermined market confidence, contributing to the drop in prices.

The deal was cleared by the Czech Republic’s anti-trust office which says the transaction will not distort competition.

Japan’s Nippon Steel says it has achieved the world’s highest reduction in CO2 emissions to date by using heated hydrogen instead of coal to reduce iron ore in a blast furnace.

Recovery continues but geopolitical risks remain for 2025

Scrap prices were stable-to-down in most regions as demand weakness offset seasonal supply tightness

Highlights from the aluminum industry this week

The president-elect has wasted no time in using the threat of tariffs to reopen negotiations and, ideally, score other political wins along the way.

The slowdown in North American zinc demand in recent months has played out across all sectors, and CRU now expects it to contract by 3.7% y/y.

Metallurgical coal production at Metinvest’s Pokrovske Coal operations in eastern Ukraine has declined. But that’s more due to everyday mining challenges than the threat of the Russian army getting closer to the mines, according to the steelmaker and miner based in the city of Zaporizhzhia in southeast Ukraine.

Aluminum highlights for the week

Now that the dust has settled from the US election, as have the immediate reactions in the equity, bond, and commodity markets, this is a prime opportunity to look at how a second Trump presidency might affect the US steel market.

This CRU analysis from discusses steel sheet prices, demand, and inventory levels around the globe this past week.

A look at this week's aluminum news

China’s steel export volumes reached 11.2 million metric tons (mt) in October, the highest monthly level since September 2015. Steel export prices were mostly stable in China and India this week, while in Turkey steel export prices increased week over week (w/w).

Donald Trump has won the US presidential election. The Republican party has re-taken control of the Senate. Votes are still being counted in many tight congressional races. But based on results so far, the Republicans seem likely to maintain control of the House of Representatives. If confirmed, this will give Trump considerable scope to pass legislation pursuing his agenda. What this means for US policy is not immediately obvious. Trump will not be inaugurated until Jan. 20. In the coming weeks and months, he will begin to assemble his cabinet, which may give a clearer signal on his policy priorities and approaches. Based on statements he made during the presidential campaign, we have set out the likely direction of his economic policy here and green policy here.

SMU is pleased to share this Insight piece from CRU economists. You can visit the CRU website to learn about its global commodities research and analysis services. The US presidential election will take place this Tuesday, Nov. 5, with opinion polls indicating a tight race between the two main contenders, Democrat Kamala Harris and Republican Donald Trump, […]

In this Insight piece, CRU economists explore the possible economic effects of Trump's and Harris' agendas.

Global scrap prices increased in Asia and the US in October, although we believe downside risks remain for prices in the short term, particularly outside the US market.

Ankara has placed anti-dumping duties of ranging from 6.10% to 43.31% on hot-rolled steel sheet from China, India, Japan, and Russia. Meanwhile, Malaysia has announced it will investigate allegedly dumped steel wire rod from China, Indonesia, and Vietnam.

CRU Principal Analyst Josh Spoores shares insight into the hot-rolled coil futures market.

Iron ore prices spiked as the Chinese market reopened after the country’s seven day holiday, but the rally started to lose steam on Tuesday afternoon.

CRU Senior Steel Analyst Alexandra Anderson shares insight into the current market for long steel products.