CRU: The 2024 US elections - What it means for policy
The US presidential elections will take place on Nov. 5, 2024.
Tag: china
Miller on scrap: Pig iron market takes off
The prices for all grades of pig iron have dramatically risen since SMU’s last report from Nov. 18.
Coalition voices concern about potential duties on tin mill products
A coalition of manufacturers, retailers, and stakeholders stands opposed to the imposition of import duties on tin mill products.
Global steel production inches up, China’s falls in October
Global steel output inched higher from September to October, even as production declined in China, the World Steel Association (worldsteel) said in its latest monthly report.
Steelmaking raw material prices remain mostly higher vs. October
Prices of steelmaking raw materials are largely up over the over the last 30 days, as they were the month prior, according to Steel Market Update’s latest analysis.
Final Thoughts
There has been almost an assumption that US mills would get the $950-1,000 per ton ($47.50-50 per cwt) they were seeking on HR base and $1,150-2,000 per ton ($57.50-60 per cwt) for cold-rolled and coated base. Recall that Cliffs initially announced an increase and said it was seeking $1,000 per minimum for hot-rolled coil. Nucor […]
Leibowitz: IPEF failure a signal for the future?
Last week was billed as big. The annual meeting of members of the Asia Pacific Economic Cooperation (APEC) in San Francisco convened amid much fanfare. A much-anticipated meeting between President Biden and President Xi Jinping of China was a featured event. So also, was the anticipated completion of the framework agreements establishing the Indo-Pacific Economic […]
CRU: US Sheet Prices Soar, Making the Country a Target for Imports
Surging US sheet prices and expanding lead times are making imports more attractive. The automotive workers’ strike is essentially over, and domestic US sheet prices have rocketed higher alongside lead times. There is little to suggest that the momentum of these price increases will slow over the next month or two, and thus imports have […]
HRC Futures: Intricate Dynamics Shape Market
In the dynamic landscape of the steel futures market, a confluence of factors is shaping the current narrative.
CRU: Huge Steel Demand Boost From Recent Bond Issuance in China
CRU’s analysis shows that 7–12 million metric tons of additional steel demand will be generated following the issuance of RMB1 trillion bonds by the central government of China. The immediate impact of this is that market confidence has improved, which has supported prices. The additional steel demand is expected to materialize over 2024 and 2025. […]