The following article on the hot rolled coil (HRC) steel 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 Since I last reported on the last Thursday in August, we have seen a strong move higher in both spot […]
National level import reports do a good job of measuring the overall market pressure caused by the imports of individual products. The downside is that there are huge regional differences. This report examines hot rolled coil imports by region through July 2020. In July, hot rolled imports were down by 15.0 percent at the national […]
National level import reports do a good job of measuring the overall market pressure caused by the imports of individual products. The downside is that there are huge regional differences. This report examines cold rolled imports by region through July 2020. In July, cold rolled imports were down by 13.8 percent at the national level, […]
National level import reports do a good job of measuring the overall market pressure caused by the imports of individual products. The downside is that there are huge regional differences. This report examines hot-dipped galvanized imports by region through July 2020. In July, HDG imports were down by 12.1 percent at the national level, but […]
National level import reports do a good job of measuring the overall market pressure caused by the imports of individual products. The downside is that there are huge regional differences. This report examines other metallic coated imports (mainly Galvalume) by region through July 2020. In July, OMC imports were down by 1.3 percent at the […]
National level import reports do a good job of measuring the overall market pressure caused by the imports of individual products. The downside is that there are huge regional differences. This report examines coiled plate imports by region through July 2020. In July, coiled plate imports were down by 34.2 percent at the national level, […]
National level import reports do a good job of measuring the overall market pressure caused by the imports of individual products. The downside is that there are huge regional differences. This report examines cut-to-length plate imports by region through July 2020. In July, CTL plate imports were down by 47.8 percent at the national level, […]
Better-than-expected demand and higher scrap prices have allowed the mills to boost flat rolled and plate steel prices, with the benchmark average for hot rolled reaching $580 per ton, according to Steel Market Update’s check of the market this week. With a few mills announcing new increases on flat rolled on Monday and Tuesday, the […]
Mills are hoping to boost flat rolled prices by an additional $50-60 per net ton as the economy and steel demand continue to improve, iron ore and scrap prices rise and mill outages tighten supplies. On Monday, U.S. Steel and sister company USS-POSCO Industries (UPI) informed customers they have raised spot prices for hot rolled, cold […]
Some leading pipe and tube producers are increasing prices by $50 per ton due to increased demand from construction and automotive-related industries, as well as higher raw material costs. On Monday, Nucor Tubular Products announced an immediate $50 increase on all new orders for HSS, pipe, mechanical and piling products. Atlas Tube followed suit on […]
Domestic steelmakers continued to dial up production last week, with raw steel output rising for the 13th time in the past 14 weeks. Production by U.S. mills totaled 1,459,000 net tons in the week ending Sept. 12, with the mills at an average utilization rate of 65.1 percent. Production in the Sept. 12 week was up […]
By CRU Senior Analyst Erik Hedborg, from CRU’s Steelmaking Raw Materials Monitor Iron ore prices have stayed elevated in the past week and even exceeded $130 /dmt, before falling back on Tuesday to just below that level. Weakening margins in the Chinese steel industry held prices from rising further and seaborne supply improved in the […]
The Steel Import Monitoring and Analysis (SIMA) system is receiving an upgrade courtesy of the Department of Commerce. A final rule was adopted on Sept. 11 that will modernize the SIMA system and set up a new online platform on the Commerce website. “These significant improvements to SIMA will enable Commerce and the public to […]
By CRU Analyst Kevin Bai, from CRU’s Steel Sheet Products Monitor Domestic sheet prices in China continued to reach new highs for the year alongside further improvement in underlying sheet demand in combination with limited supply. Domestic CR coil prices went up by RMB290 /t to RMB4720 /t and HDG sheet by RMB140 /t to […]
Total rolled product imports in August were down by 28.0 percent on a three-month moving average (3MMA) basis. This was the 10th consecutive month in which imports were down by more than 20 percent compared to the same time last year. This early look at August’s import volume is based on Commerce Department license data […]
Steel Market Update is pleased to share this Premium content with Executive members. The information below is excerpted from the full article, which is available to Premium subscribers on SMU’s website. For information on upgrading to a Premium-level subscription, email Info@SteelMarketUpdate.com. Total rolled product imports in September were down by 28.7 percent on a three-month […]
Steel import permit applications for August totaled 1,394,000 net tons—a 30.5 percent decrease from the 2,006,000 permit tons recorded in July and a 48.4 percent decrease from the July final imports total of 2,703,000, reported the American Iron and Steel Institute, based on the Commerce Department’s most recent Steel Import Monitoring and Analysis (SIMA) data. […]
This week’s comparison of foreign and domestic hot rolled prices shows that U.S-produced steel continues to hold a price advantage over foreign imports, but that price advantage is lessening due to the rapid rise in domestic prices, according to SMU and CRU indices. The price differentials between domestic HRC compared to foreign imports had widened over […]
SMU contributor Tim Stevenson is a partner at Metal Edge Partners, a firm engaged in Risk Management and Strategic Advisory. In this role, he and his firm design and execute risk management strategies for clients along with providing process and analytical support. In Tim’s previous role, he was a Director at Cargill Risk Management, and […]
U.S. steel exports continued to recover in July, up 13 percent from June to 478,182 net tons, according to recent U.S. Department of Commerce data. This is up 35 percent from two months prior when exports were at the lowest levels seen in SMU’s 24-year data history. Although up, July exports remain low historically, down […]
Mills raised plate prices by an additional $40-50 per ton ($2-2.50/cwt) on Monday and Tuesday, the second increase in the past five weeks and the fourth round of increases since May. Plate prices have lagged the increases in flat rolled as plate demand is more dependent on the infrastructure, commercial construction and energy markets, which […]
Steel Market Update’s check of the market this week shows prices for hot rolled, cold rolled and coated steels up by $20-30 per ton as demand continues to improve, lead times extend and scrap prices rise. The benchmark price for hot rolled steel now averages $540 per ton, up $100 from the low point in […]
Ferrous scrap prices exceeded even the bullish expectations heading into September as the market settled up $20-35/GT on prime scrap and up $30-55/GT on obsolescent grades, depending on the region of the country. Sources expect prices to move still higher in October, lending support to higher finished steel prices. Demand from U.S. mills picked up […]
After a brief pause in late August, raw steel production resumed its upward trajectory, rising again for the 12th time in the past 13 weeks. Raw steel output by U.S. mills totaled 1,428,000 net tons in the week ending Sept. 5, with the mills at an average utilization rate of 63.7 percent. Production in the […]
By CRU Research Analyst Eduardo Tinti, from CRU’s Steelmaking Raw Materials Monitor The iron ore price rose further last week and is now approaching the $130 /dmt mark as demand from Chinese steel mills remains strong and seaborne supply declined w/w. On Tuesday, Sept. 8, CRU assessed the 62% Fe fines price at $128.0 /dmt, […]
By CRU Research Analyst Eduardo Tinti, from CRU’s Steelmaking Raw Materials Monitor In the past week, iron ore prices remained steady. Despite somewhat lower demand from hot metal production, pre-holiday restocking activity kept iron ore port outflows at a high level while the seaborne supply registered one of the best weeks in the year so […]
By CRU Senior Analyst Ryan McKinley, from CRU’s Steel Metallics Monitor The CRU metallics price indicator (CRUmpi) rose by 9.9 percent m/m in September to 225.5. Rising steel demand internationally in combination with tighter markets has driven relatively large price increases in every market we assess. Market sentiment is bullish for October and, barring any […]
Recently released Census data shows final July steel imports totaled 2.70 million net tons, up 93 percent from June due to the quarterly reset on semifinished import quotas. This final July figure is just 5,995 tons higher than the preliminary import figures SMU reported one week ago. Finished imports in July totaled 1.43 million tons, […]
Last Thursday, USS-POSCO notified customers of a revision to its galvanized steel coating extras. UPI advised customers the new extras will apply on all new orders effective immediately. UPI is the fifth mill to revise its galvanized coating extras recently, following Steel Dynamics, California Steel Industries, Nucor and U.S. Steel. SMU has done an analysis […]
On Wednesday, U.S. Steel notified customers of a revision to its galvanized and galvannealed steel coating extras. USS advised customers, “The cost to procure zinc for our Hot Dipped Galvanized products has increased significantly in recent weeks, with the average LME zinc price now above the current coating weight tables that we put in place […]