Weekly raw steel production by U.S. mills totaled 1,725,000 net tons in the week ending Jan. 30, resuming a positive move after a small dip the week prior. Production was up 0.5 percent from the week before when the total was 1,717,000 net tons. The mill utilization rate was 76.1 percent, up from 75.7 percent […]
The following article on the hot rolled coil (HRC), scrap and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week: Hot Rolled January has been a turbulent month all the way around—HR futures markets included. After a few months of high velocity price […]
The following article on the hot rolled coil (HRC), scrap and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week: Hot Rolled Price and forecast volatility continue to plague the ferrous markets, but how close are we to the top? Hot rolled […]
Cracks might be forming in the groundwork that has to date led U.S. flat-rolled steel prices to their highest point on record. Whether they are big enough to send towering prices tumbling down or merely a distraction remains to be seen, markets sources generally agreed. Prices have nowhere to go but up in the short […]
Updated preliminary data now shows December steel imports nearing 1.5 million net tons, up 9 percent from November levels, but down 1 percent from October. Recall that back in September, total steel imports reached an 11-year low of 1.26 million tons. January import licenses are currently at 1.90 million tons, up dramatically due to the […]
Evraz North America has followed Nucor and SSAB Americas in increasing plate prices by at least $80 per ton ($4/cwt). The steelmaker said that the increase was effective immediately and that it applied equally to all carbon, high-strength low-alloy, hot-rolled coil, normalized, and quenched-and-tempered products, according to a letter to customers Jan. 26. “We reserve the […]
Steel prices continue to trek upward. But the pace has slowed, and questions about whether the market is at or near a summit have re-emerged. “Talked to two large OEMs that are postponing buys for the next few weeks. They believe we are at peak right now,” one respondent to Steel Market Update’s check of […]
Nucor and SSAB Americas aim to increase plate prices by another $80 per ton ($4/cwt). Effective immediately, Nucor’s new ex-works base price for cut-to-length grade A36 plate is $1,020 per ton ($51/cwt), up from $940 per ton on Jan. 5, according to a letter sent to customers on Tuesday. The new base price for quenched-and-tempered A514 […]
Weekly raw steel output by U.S. mills, which had increased for the prior three weeks, took a small step back in the week ending Jan. 23 with total production of 1,717,000 net tons, down 1.6 percent from the week before. The mill utilization rate was 75.7 percent, down from 76.7 percent week on week and […]
Foreign steel from almost anywhere else in the world is now cheaper than steel made in the U.S., according to Steel Market Update’s latest foreign vs. domestic hot rolled steel price comparison, tempting more and more buyers to consider ordering imports. With U.S. HRC prices now over $1,100 per ton, foreign HRC prices are theoretically […]
Steel prices surging to their highest levels ever has masked another potentially key market trend–a narrower spread between hot-rolled coil and galvanized base prices, according to Steel Market Update (SMU) data. SMU’s hot-rolled coil price averages $1,130 per ton ($56.50/cwt), $60 per ton above 2008’s peak of $1,070 per ton. The base price for galvanized […]
Steel prices seem to be changing by the minute, and so far always in an upward direction. What’s the going price for hot rolled? “Who knows? Ask me again after lunch,” quipped one respondent to Steel Market Update’s check of the market this week. SMU estimates the current average price for HRC is at a […]
Continuing the uptrend from last year, weekly raw steel production by U.S. mills totaled 1,738,000 net tons in the week ending Jan. 16, up 1.7 percent from the week prior when the total was 1,709,000 net tons. The mill utilization rate was 76.7 percent, up from 75.4 percent week on week, yet still down 8.8 […]
U.S. apparent steel supply continued its upwards crawl in November, up 0.4 percent to 7.32 million net tons, according to the latest U.S. Department of Commerce and American Iron and Steel Institute data. While supply levels have improved each month since May, recall that April and May were the two lowest levels seen in the […]
The market for secondary steel is even tighter than the market for prime steel, report service center sources. Secondary steel is a niche market occupied by a handful of distributors who specialize in finding homes for coils that have been rejected by their original buyers. Some coils may have minor surface flaws, others may have […]
By CRU Senior Analyst Ryan McKinley and Analyst Dave Thewlis, from CRU’s Steel Long Products Monitor U.S. domestic long product prices rose further m/m in January, hitting multi-year highs (see chart) as limited supply met with strong demand. Buyers are increasingly relying on domestic mills to acquire material, as global prices have made importing less […]
By CRU Analyst Sam Grant, from CRU’s Steel Sheet Products Monitor Galvanized steel sheet equates to around 30% of refined zinc demand, making it the most significant first use for zinc globally. China is by far the world’s largest producer, responsible for 33% of the global total, with North East Asia, North America and Europe […]
This report examines the import share of sheet, plate, long and tubular products. As of November 2020, imports’ share of total sheet products was 11.4 percent, down from 11.8 percent in October. Imports’ share has been on a steady decline since its most recent peak of 16.6 percent this past May. The import share of […]
On Tuesday, Jan. 14, USS POSCO notified customers of an upward revision to their galvanized steel coating extras, to apply on all new orders effective immediately. UPI is the fourth mill to revise their galvanized coating extras recently, following NLMK, CSI, and Nucor. SMU has done an analysis on the old and new extras, provided […]
By CRU Prices Analyst George Pearson, from CRU’s Steel Sheet Products Monitor Sheet order volume decreased in the last week across regions as several buyers have recently placed forward orders and are now covered for deliveries. Prices remain stable at a high level because mills are well-booked and lead times are long. China is slowing down ahead of its New Year holiday next week. […]
By CRU Principal Analyst Josh Spoores, from CRU’s Steel Sheet Products Monitor Higher steel sheet prices continue to be assessed across most global markets. Reflecting this, CRU’s Global Flat Products Steel Price Indicator (CRUspi flats), has risen for the seventh consecutive month, reaching 238.2, its highest reading since September 2008. This indicator is now 56% […]
By CRU Principal Analyst Matthew Watkins, from CRU’s Steel Sheet Products Monitor Prices in Europe have surged higher once more over the past month, though the pace of weekly increases is showing signs of changing. Overall, our 2nd Wednesday price in February is much higher m/m for all sheet products across Europe. This continues what is […]
By CRU Prices Analyst George Pearson, from CRU’s Steel Sheet Products Monitor Chinese sheet prices reached a new high this week after a government policy notice on March 2 notifying of emissions production cuts in Tangshan province in late-February to late-March. We expect the impact of this announcement to be lower than the initial price rise suggests. In other regions, sheet prices globally have continued to rise, […]
By CRU Analyst Kevin Bai from CRU’s Steelmaking Raw Materials Monitor China has announced that it will remove the value-added tax (VAT) rebate it has historically applied to steel exports, alongside changes in import and export tariffs. This will increase the cost of exporting and discourage export volumes, which will help loosen a tight domestic […]
By CRU Principal Analyst James Campbell, from CRU’s Steel Long Products Monitor Global long product prices have increased to the highest level since 2008. Global supply has tightened due to production cuts and changes to export tax rebates in China. Demand is strong in many regions, but Covid-19 outbreaks and seasonal patterns mean some weakness […]
By Josh Spoores, from CRU’s Steel Sheet Products Monitor One year ago, the title of our May Steel Sheet Products Monitor was “Global sheet markets move past bottom of demand cycle.” Today, global sheet consumption continues to rise, reaching levels where current global production cannot keep pace. In addition to the continued demand rebound from […]
By CRU Principal Analyst Josh Spoores, from CRU’s Steel Monitor Global steel prices, as measured by the CRUspi index, have increased for the 10th consecutive month, gaining 9.4% m/m and 116% y/y. This index now stands at 301.1, a new record high. This index continues to be supported by higher finished steel prices across all regions. […]
By Greg Wittbecker, Advisor, CRU Analysis An administrative change in Washington, D.C., arrives this week. Some of the parties with vested interests in Section 232 are already messaging the Biden administration. On Jan. 13, the American Primary Aluminum Association (APAA), which consists of Century Aluminum and Magnitude Seven Aluminum, sent a letter to President-elect Biden […]
By Greg Wittbecker, Advisor, CRU Analysis The primary aluminum industry has operated with the same technology since the large-scale production process was developed in 1886. It is a carbon-based electrolytic process. This process generates a lot of CO2. Global aluminum producers have been focused on reducing GHG for some time, but efforts have accelerated in […]
By CRU Prices Analyst George Pearson from CRU’s Steel Sheet Products Monitor HR coil import prices and lead times are now competitive with domestic mills in the U.S. and Europe. Both markets remain tight in the short-term, but this is giving buyers more optionality for forward deliveries than in previous months and some negotiation power […]