Mill utilization by domestic steelmakers improved slightly in the week ending May 23 as steel production totaled 1,191,000 net tons with the mills operating at an average rate of 53.2 percent. Production was up 0.8 percent from the prior week when the utilization rate was 52.7 percent, reported the American Iron and Steel Institute. While […]
By CRU Senior Analyst Erik Hedborg, from CRU’s Steelmaking Raw Materials Monitor Iron ore prices contracted in the past week as China’s “Two Sessions” concluded with a disappointing outlook while Brazilian exports registered their strongest week of the year. On Tuesday, May 26, CRU assessed the 62% Fe fines price at $97.0, a $1.3 /t […]
The COVID-19 pandemic has resulted in weaker global demand for steelmaking raw materials. However, the cost of producing and delivering many of these commodities has also fallen. Strong demand in China is helping to buoy prices for iron ore and other materials. Table 1 summarizes the price changes through May 21 of the five materials […]
While it seems counterintuitive given the difficult market conditions and weak demand due to the coronavirus, domestic steelmakers have raised flat rolled prices for the second time this month. Nucor, U.S. Steel, USS-POSCO Industries (UPI), AK Steel and NLMK USA informed customers today that prices for spot orders of hot rolled, cold rolled and coated […]
Following on Monday’s announcement by ArcelorMittal USA and SSAB Americas, Nucor informed customers on Wednesday that it has raised the price of its plate products. Nucor is seeking an additional $50 per ton ($2.50/cwt) on all orders for carbon, alloy and heat-treated plate. The other mills raised their plate price by just $40 per ton ($2.00/cwt). […]
Flat rolled steel prices were mixed this week as benchmark hot rolled rose $10 per ton and is now up $20 per ton from the cycle low. Cold rolled remained within the range we reported last week and our average on CR is unchanged. Galvanized pricing data was mixed with a couple of mills cutting […]
Domestic steelmakers raised the spot price of plate products by $40 per ton yesterday, hoping to stem the slide and capitalize on improving demand as coronavirus restrictions ease and businesses are allowed to gradually reopen. The plate price has been trending downward this year since peaking in January at $710 per ton ($35.50/cwt). Steel Market […]
In the week ending May 16, steel production totaled 1,181,000 net tons with the mills operating at an average capability utilization rate of 52.7 percent. Production was down 1.9 percent from the prior week when output totaled 1,204,000 tons at a utilization rate of 53.7 percent, reported the American Iron and Steel Institute. Mill utilization […]
By CRU Senior Analyst Manjot Singh, from CRU’s Metallurgical Coal Market Outlook Seaborne coking coal prices were steady last week as market participants adopted a “wait-and-see” approach due to the ongoing uncertainty in the coal market. There are upside risks to seaborne prices in the form of relatively strong demand in China, and ease of […]
Despite announcements by the major mills of price increases or higher base prices, flat rolled steel prices saw relatively little change in the past week as the market continues to struggle with weak demand due to the coronavirus shutdowns.Steel Market Update’s Price Momentum remains at Neutral. Here is how we are seeing prices this week: […]
Has steel production turned a corner? After a series of sharp declines since the coronavirus shutdowns in mid-March, the mill utilization rate actually saw a small uptick last week. In the week ending May 9, steel production totaled 1,204,000 net tons with the mills operating at an average capability utilization rate of 53.7 percent. Production […]
By CRU Senior Analyst Erik Hedborg, from the CRU Steelmaking Raw Materials Monitor In the past week, the iron ore price has risen to $88.8 /dmt as seaborne supply displayed some temporary weakness while China’s steel production remained at a high level. The current iron ore price, $5.3 /dmt higher than last week, sits at […]
United States steel exports totaled 664,129 net tons of steel in March, up 4 percent from February and up 13 percent from one year prior, according to recent U.S. Department of Commerce data. March export levels are the hightest seen since October 2019 when 709,496 tons were exported to other countries. Prior to October, the […]
U.S apparent steel supply rose to 8.66 million net tons in March, according to recent U.S. Department of Commerce and American Iron and Steel Institute data. Although up over the previous month, March supply remains on the low-side historically and is the fourth lowest supply level seen in the past three years. Apparent steel supply, […]
By CRU Principal Consultant Laura Brooks and Senior Consultant Amir Sabet, from CRU’s Crude Steel Market Outlook The market impacts of Covid-19 are unknown in scale, varied and staggered in time across the world. The steel raw materials markets are being affected to a lesser or greater extent depending on the demand-side and supply-side regional […]
If there is one thing you can count on with the steel industry, it’s for rumors to begin flying as soon as the mills appear to have seized pricing momentum. The domestic steel mills, led by ArcelorMittal USA, began announcing price increases the week ending May 1. The announcements ranged from $50 to $60 per […]
Recently updated license data shows final March steel imports totaling 1.75 million net tons, according to the U.S. Department of Commerce. This is just 1,400 tons over the preliminary March import figures reported last week. Unchanged over what SMU published last week, finished imports in March were 1.5 million tons, up 12 percent over the […]
The prices we reference this evening reflect orders being placed this week, as well as the prices being quoted by the mills to their customers. It is important that our readers understand there was a flurry of activity last week at numbers at, or below, the low end of our range. We discussed with one […]
Buyers of flat rolled and plate steels provided insights into the market to Steel Market Update throughout the day. On the flat rolled side, steel buyers seemed to be resigned to paying higher prices. Flat rolled price quotes are firming at the domestic mills, and the mills may well achieve their desired minimums of $500-$520 […]
Raw steel production is starting to show the full effect from the pandemic shutdowns and the capacity curtailments by domestic steelmakers. In the week ending May 2, steel production totaled 1,144,000 net tons with the mills operating at an average capability utilization rate of 51.1 percent, down 8.5 percent from the previous week, and down […]
By CRU Senior Analyst Erik Hedborg, from CRU’s Steelmaking Raw Materials Monitor In a quiet week, iron ore prices have remained steady as Chinese buying activities were muted during the country’s Labor holiday. On Tuesday, May 5, iron ore prices were trading at $83.5 /t, $1.0 /t higher than the prior week. China’s recovery has […]
Prices of steelmaking raw materials all declined in April, reflecting the initial impact of coronavirus shutdowns and the idling of steelmaking facilities all over the world. Generally speaking, rising supplies and lower demand are likely to keep downward pressure on iron ore, coking coal, pig iron, scrap and zinc in the months to come. Table […]
Demand for steel has suffered a serious blow from the coronavirus shutdowns. Not surprisingly, steel prices have been hurt as well, with hot rolled plunging by $80 per ton since mid-March. What is surprising is that the mills are hoping they can establish a floor for steel prices, even as the economy and demand yet […]
Steel Market Update sources report that ArcelorMittal USA has informed them of new, higher base prices for flat rolled steel products. Effective immediately, the base for future orders of hot rolled is $500 per ton ($25/cwt) and cold rolled and coated products have a base of $700 per ton ($35/cwt). These prices are applicable to […]
Steel prices declined again this week as shutdowns to control the spread of the coronavirus continue to stifle demand. Steel Market Update’s price momentum remains pointed Lower. Here is how we are seeing prices this week: Hot Rolled Coil: SMU price range is $420-$500 per ton ($21.00-$25.00/cwt) with an average of $460 per ton ($23.00/cwt) […]
After a brief pause, raw steel production continued to slide last week. Production in the April 25 week totaled 1,250,000 net tons with the mills operating at an average capability utilization rate of 55.8 percent, down 2.1 percent from the previous week, and down 33.9 percent from the same week last year, reported the American […]
By CRU Senior Analyst Erik Hedborg, from CRU’s Steelmaking Raw Materials Monitor In the past week, iron ore prices have declined as we are seeing mixed sentiment in the Chinese market leading up to the country’s Labor Day holiday (May 1-5). Seaborne supply remained strong as Brazilian exports improved, particularly from the southern part of […]
By CRU Prices Analyst George Pearson The U.S. plate market has, up to this point, seen prices fall on a slow downward trend. Plate has not been as exposed to the automotive-led manufacturing shutdown, which had allowed prices to only slowly fall by $61 /s.ton since the late January cycle peak. Current prices, though, reflect […]
Preliminary steel import license data was updated late last week, pegging March at 1.75 million net tons of total steel imports, according to the U.S. Department of Commerce. The preliminary March data shows finished imports at 1.5 million tons, up roughly 12 percent over the previous month. Nearly 230,000 tons of semi-finished product imports are […]
World crude steel production, not counting China, declined by 10.6 percent in March versus the same month last year, reported the World Steel Association, showing early signs of the effect of the coronavirus. Steel production in the United States declined by 6 percent in March, to 7.2 million metric tons, as mills announced furnace idlings […]