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 September 2020. In September year to date, cut-to-length (CTL) plate imports were down by 45.2 percent […]
U.S. raw steel production remained steady in September, up 0.8 percent to 6,587,000 net tons, as reported by the American Iron and Steel Institute. AISI’s monthly raw steel production estimates are different than the weekly estimates SMU reports each Tuesday; the monthly estimates are based on over 75 percent of the domestic mills reporting versus […]
U.S. apparent steel supply remained flat from August to September, up 0.4 percent to 7.19 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 […]
U.S. steel exports continued to recover in September, rising 17 percent from August to 646,194 net tons, according to recent U.S. Department of Commerce data. Total September exports are up 83 percent compared to four months prior, when May exports were at the lowest levels seen in SMU’s 24-year data history. Total September exports are […]
U.S. steel mills shipped 6,662,904 net tons in September, a 2.0 percent increase from the 6,532,652 net tons shipped in the previous month, but a 14.2 percent decrease from the 7,767,310 net tons shipped in September 2019, reported the American Iron and Steel Institute. Shipments year-to-date totaled 60,449,359 net tons, a 16.7 percent decrease vs. […]
Flat rolled steel prices continued to rise last week, though at a modest $5-10 per ton pace. The exception was Galvalume, which jumped by $40 as demand continues to outpace supplies. The benchmark average for hot rolled coil, at $710 per ton, surpassed the $700 level, where many had expected it to peak. With demand […]
Final Commerce data shows steel imports totaled 1.26 million net tons in September, surpassing last month’s low by 33,000 tons. September imports are now at the lowest levels seen in 11 years, with the previous low occuring in September 2009 at 1.21 million tons. Recall that the lowest monthly import level in the past two decades […]
Weekly raw steel production by U.S. mills continues to climb, a trend that started back in May. In the week ending Nov. 7, raw steel production totaled 1,573,000 net tons. The capacity utilization rate rose to 71.1 percent, up from 70.0 percent the week prior. Despite the steady rise in output, the current week’s production represents […]
Among steelmaking raw materials, the prices of pig iron, scrap, zinc and aluminum have seen big gains in the past three months. Pig iron and scrap prices have seen significant increases compared to the late summer months. Iron ore and coking coal prices had widened through mid-September but have since declined, with coking coal prices […]
The U.S. International Trade Administration has launched a new Steel Import Monitoring and Analysis (SIMA) System as of Oct, 13. This new system collects and publishes data on steel mill product imports and provides valuable information on steel trade within the United States. The import monitor provides an early indication on steel imports by publishing […]
Most of the industry executives polled by Steel Market Update this week reported genuine demand, not just tight supplies, pushing steel prices upward, promising even higher prices ahead. SMU estimates the current spot market price for hot rolled at $700 per ton, up by $260 over the past three months, and likely not yet at […]
Steel Market Update’s check of the market this week puts the average price for hot rolled steel at $700 per ton, a psychological milestone for the steel sector as the economy continues to make progress from the severe early effects of the COVID pandemic. This marks the 12th week in a row that flat rolled […]
California Steel Industries has opened its January order book with a considerable bump in prices. CSI notified customers on Monday that it has increased transaction prices on its flat rolled products by $90-100 per ton. Effective immediately, unconfirmed orders for hot rolled, P&O and galvanized increase by $90 per ton, while cold rolled prices increase […]
Domestic mills continue to increase steel production as the economy rebounds from the coronavirus, with the capacity utilization rate topping 70 percent again for the first time since late-March. In the week ending Oct. 31, raw steel production totaled 1,557,000 net tons, at a mill operating rate of 70.4 percent, up from 69.7 percent the […]
BY CRU Research Analyst Eduardo Tinti, from CRU’s Steelmaking Raw Materials Monitor Iron ore prices edged up for the second consecutive week as Chinese domestic steel prices rallied and the seaborne iron ore supply weakened. On Tuesday, Nov. 10, CRU assessed the 62% Fe fines price at $122.0 /dmt, $4.5 /dmt higher w/w. Chinese domestic […]
By Principal Consultant Josh Spoores, from CRU’s Steel Sheet Products Monitor North American sheet prices have continued to surge after bottoming this past August. For HR coil, prices have been assessed at $712 /s.ton. Since Aug. 12, these prices have gained $237 /s.ton, or 63%. This is the fastest percent gain over three months in […]
By CRU Senior Analyst Ryan McKinley, from CRU’s Steel Metallics Monitor The CRU metallics price indicator (CRUmpi) increased by 1.5% m/m in November to 229.0. The increase in scrap prices in most regions has been driven by a continued recovery in steel prices and demand. Moving into December, we expect higher steel pricing and demand […]
By CRU Principal Analyst Josh Spoores, from CRU’s Steel Sheet Products Monitor The global sheet market has seen a few key trends emerge across a variety of regions. First, demand has continued to rise from the pandemic-related lows recorded earlier this year. While sheet demand continues to be driven by sequential increases in automotive demand, […]
By CRU Principal Analyst Josh Spoores and Senior Analyst Ryan McKinley, from CRU’s Steel Monitor Strong underlying demand continues to provide substantial support to finished steel prices in the USA. Sheet prices have risen at their quickest pace since CRU started tracking them and, while there was little change m/m for long products, mills have […]
By CRU Analyst Estelle Tran, from CRU’s Global Steel Trade Service The U.S. market is at a unique point where steel buyers could be convinced to buy imports because of extreme supply tightness. With about 7Mt of blast furnace capacity remaining idled in the U.S. and Canada, sheet mills in operation are effectively running at […]
By CRU Senior Analyst Erik Hedborg, from CRU’s Steelmaking Raw Materials Monitor The bullish sentiment in the Chinese steel industry has resulted in continuous strong demand for iron ore. Meanwhile, iron ore supply from Australia has been weak throughout November and inventories in China have remained at a low level as a result. On Tuesday, […]
By CRU Senior Analyst Helen O’Cleary, from CRU’s Steel Sheet Products Monitor The impact of Covid-19 restrictions on global manufacturing this year has led to the loss of ~ 700,000 t of refined zinc demand compared to our pre-Covid-19 forecasts. Smelter output has been far less impacted, despite mine supply losses, and this has led […]
By CRU Senior Analyst Erik Hedborg, from CRU’s Steelmaking Raw Materials Monitor Iron ore prices have continued to surge in the past week as robust Chinese demand has coincided with lower Australian exports. As a result, prices have climbed above $130 /dmt and on Tuesday, Dec. 1, CRU assessed the 62% Fe fines price at […]
Hot rolled steel prices just keep rising. Steel Market Update puts the current benchmark price for HR at $685 per ton. How much higher can it go before correcting? Opinions vary widely. Responses to Steel Market Update’s market trends questionnaire this week indicate that a solid majority (62 percent) of industry executives believe the HR […]
Flat rolled steel prices increased by another $10-20 per ton in the past week as demand continues to outpace the tight supplies, lead times remain extended and there’s limited competition from imports. Only about one-quarter of the steel buyers polled this week believe prices are near a peak. So, with scrap prices expected to move […]
Weekly raw steel production by U.S. mills rose again by 0.5 percent to 1,542,000 net tons in the week ending Oct. 24. The mill operating rate hit 69.7 percent, up from 69.4 percent the week prior. Despite the steady increases over the past 20 weeks as the economy recovers from COVID, domestic steel production was still […]
By CRU Principal Analyst Josh Spoores, from CRU’s Steel Monitor Reflecting a basket of finished steel prices, CRU’s global finished steel CRUspi reached 162.9, its highest level since May 2019. This indicator, which covers Asia, Europe, and North America, increased 5.2% m/m and is now up 9.9% y/y, the first y/y increase since November 2018. […]
Steel prices are showing some strength in the fourth quarter as mill lead times remain extended, competition from imports is minimal, inventories are near record lows and demand is maintaining momentum as the economy slowly recovers from COVID. Supplies remain tight as a strike, unplanned outages and planned maintenance are keeping mill capacity below normal […]
Iron ore trade on the Great Lakes felt the “pinch of COVID-19” during 2020, plummeting 30 percent from its normal levels, reported the Lake Carriers Association. The pandemic hit just as crews were readying ore vessels for the new shipping season in March. No plans were in place to guide maritime shipping. “The United States Coast […]
Raw steel production by U.S. mills rose again by 2.2 percent to 1,535,000 net tons in the week ending Oct. 17, continuing an uptrend that began nearly five months ago. The mill operating rate hit 69.4 percent, up from 67.9 percent the week prior. Despite the repeated rise in capacity utilization, production was still down by 15.0 percent […]