By CRU Senior Analyst Ryan McKinley, from CRU’s Steel Sheet Products Monitor, March 16 Global sheet prices took notably different directions this week as the war in Ukraine caused record w/w increases in Europe and the USA, while a fresh outbreak of Covid-19 in China pushed domestic prices lower and prevented increases in other Asian […]
Prices for five of the seven steelmaking raw materials tracked in this SMU analysis increased over the last 30 days, with only one product decreasing. Through Feb. 17, iron ore prices rose 18% from one month prior, aluminum prices increased 10%, coking coal prices rose 9%, zinc prices were up 3%, and pig iron prices […]
By CRU Principal Analyst Josh Spoores, from CRU’s Steel Sheet Products Monitor, Feb. 9 The global sheet market often exhibits price trends that vary by region. Occasionally, prices do move in the same direction, though on these occasions, prices typically reflect a unified trend of global costs or inventory change. In the current sheet […]
By CRU Research Analyst Aaron Kearney-Keaveny, from CRU’s Iron Ore Market Outlook, Feb. 8 The iron ore price has been driven up over the last week, despite sparse activity during and after the Chinese holiday. The rise in price primarily came from traders who have been increasing their stocks in anticipation of higher prices, not […]
By CRU Senior Analyst Ryan McKinley, from CRU’s Steel Sheet Products Monitor, Jan. 26 Steel sheet prices in the U.S. sank by about 9% w/w as they continued to fall towards the global average. CRU’s weekly HR coil assessment in the U.S. was $126 /s.ton lower than the prior week, and high inventory levels relative to […]
Prices for four of the seven steelmaking raw materials tracked in this SMU analysis increased over the last 30 days, while three products decreased. Through Jan. 26, coking coal prices rose 26% from one month prior, aluminum prices increased 10%, iron ore prices rose 8%, and zinc prices were up 2%. In that same time […]
Steel Market Update is pleased to share this Premium content with Executive members. For information on upgrading to a Premium-level subscription, email Info@SteelMarketUpdate.com. Prices for three of the seven steelmaking raw materials tracked in this SMU analysis increased over the last 30 days, while three products decreased and one was unchanged. Through Dec. 21, iron ore prices […]
Arkansas lawmakers have introduced a bill that would expand tax credits in a bid to attract U.S. Steel’s planned $3 billion electric arc furnace (EAF) sheet steel mill to the state. And the bill’s lead sponsor, state Sen. Dave Wallace (R), narrowed down potential locations even further. He said tax credits were aimed at convincing the Pittsburgh-based steelmaker to invest its […]
By CRU Senior Analyst Ryan McKinley, from CRU’s Steel Metallics Monitor , Dec. 8 The CRU metallics price indicator (CRUmpi) was little changed m/m in December at 401.6 after expectations of another price increase for metallics were dampened by weaker-than-expected demand. Supply is becoming seasonally scarcer in some markets. But, in our view, weakness in […]
By CRU Steel Analyst Tiago Vespoli, from CRU’s Steel Sheet Products Monitor, Nov. 17 There is a high probability that the weather phenomenon La Niña will start at end-November, which could have serious consequences for the steel supply chain, depending on the severity of the event. Some expected impacts include increased rainfall in Australia and […]
Prices for four of the seven steelmaking raw materials tracked in this SMU analysis declined over the last 30 days. Through Nov. 18, iron ore prices fell 27% from one month prior, aluminum prices are down 17%, zinc prices declined 15%, and coking coal prices decreased 4%. In that same time frame, shredded scrap prices […]
By CRU Principal Analyst Erik Hedborg, from CRU’s Steelmaking Raw Materials Monitor, Nov. 9 Iron ore prices remain under pressure as Chinese steel production levels remain low and iron ore inventories continue to pile up, both at ports and at steel mills. A price of $92 /dmt is the lowest seen since May 2020, and […]
Prices for four of the seven steelmaking raw materials tracked in this SMU analysis increased over the last 30 days. Through Oct. 20, zinc prices shot up 24% over one month prior, iron ore prices rebounded 18% in one month’s time, aluminum prices rose 9%, and coking coal prices increased 8%. In that same time […]
By CRU Principal Analyst Josh Spoores, from CRU’s Steel Sheet Products Monitor After 14 consecutive months of rising global sheet prices, CRU’s Global Flat Products Steel Price Indicator (CRUspi flats) has fallen m/m. This indicator fell 3.5% as sheet prices continue to fall across most regional markets. The U.S. Midwest market remains the last holdout […]
By CRU Senior Analyst Ryan McKinley, from CRU’s Steel Sheet Products Monitor Steel sheet price declines continue in the USA and Europe as lead times shorten further and inventories build. In the former market, small transactions are occurring at levels above $1,900 /s.ton, but there are many more deals occurring at well below this level. As […]
By CRU Principal Analyst Josh Spoores, from CRU’s Steel Sheet Products Monitor North American sheet prices are lower m/m as prices in the U.S. have finally started to fall, at least for HR coil. Over the past several weeks, the amount and overall volume of spot transactions between mills and buyers have slowed, yet we […]
Cleveland-Cliffs Inc. isn’t feeling the heat of soaring metallurgical coal prices, at least not yet. And the Cleveland-based miner and steelmaker plans to turn to its own mines if the market overheats. “We are benefiting from our existing multi-year contracts with suppliers and also the supply from our own coal production operations,” a company spokeswoman […]
By CRU Senior Editor Ryan McKinley, from CRU’s Steel Sheet Products Monitor Sheet prices outside of the USA fell markedly this week as demand declines and inventories build. The largest of these declines occurred in Europe, as lower-priced imports forced Italian domestic prices to fall below the €1,000 /t mark for the first time since […]
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 […]
A Pennsylvania state senator wants the Keystone State’s governor to work with him to land Nucor and U.S. Steel’s new, multibillion-dollar sheet mills in the western part of the state. Sen. Joe Pittman, a Republican, wants to meet with Gov. Tom Wolf, a Democrat, in hopes of attracting the electric arc furnace (EAF) mill projects – […]
By CRU Principal Analyst Erik Hedborg, from CRU’s Steelmaking Raw Materials Monitor Iron ore prices have continued to fall with the commodity now reaching $93.0/dmt, a $31.0/dmt fall in the past week. Chinese demand remains weak and seasonal improvements in construction activity have thus far not materialized in any significant improvement in market conditions for […]
Prices for four of the seven steelmaking raw materials tracked in this SMU analysis decreased over the last 30 days. Through Sept. 17, iron ore prices stumbled 21% in one month’s time, busheling scrap prices declined 12%, pig iron prices fell 11%, and shredded scrap prices declined 3%. Coking coal prices jumped 49% in that […]
By CRU Analysts Kevin Bai and Zhenzhen Jiang, from CRU’s Steelmaking Raw Materials Monitor (Editor’s note: Steel Market Update is pleased to share this Premium content with Executive members. For information on upgrading to a Premium-level subscription, email Info@SteelMarketUpdate.com.) China’s steel production control measures have been heatedly discussed in the past few months. With the […]
By CRU Senior Editor Ryan McKinley, from CRU’s Steel Sheet Products Monitor Steel sheet prices were either little changed or fell w/w across most of the globe, with the U.S. market now joining in the global cooldown. Prices in the U.S. fell w/w for the first time in over year, albeit the decline was only […]
By CRU Senior Analyst Richard Lu, from CRU’s Steelmaking Raw Materials Monitor In a recent Insight titled “Iron ore at $140 /dmt – what’s driving the fall?”, we explained that weak demand in China has caused a sharp iron ore price fall and we expect the downtrend to persist for the rest of the year. […]
Prices for four of the seven steelmaking raw materials tracked in this SMU analysis decreased over the last 30 days. Through Sept. 1st, iron ore prices stumbled 18% in one month’s time, pig iron prices fell 11%, shredded scrap prices declined 4%, and zinc prices decreased 2%. Busheling scrap prices remained flat month over month, while aluminum prices rose […]
By CRU Principal Analyst Erik Hedborg, from CRU’s Steelmaking Raw Materials Monitor After rising at end-August, iron ore prices have started pointing downward again in the past week as Chinese demand remains tepid while seaborne supply has been at the strongest level since end-June. Iron ore is currently trading at $135.5 /dmt, down by $18.5 /dmt […]
Swedish steelmaker SSAB said it has produced the world’s first-fossil free steel and delivered a trial order to automaker Volvo. “It’s possible to … significantly reduce the global carbon footprint of the steel industry. We hope that this will inspire others to also want to speed up the green transition,” SSAB President and CEO Martin Lindqvist […]
ArcelorMittal Dofasco plans to spend Canadian $1.77 billion ($1.41 billion U.S.) to install a new direct-reduced iron (DRI) plant and electric arc furnace (EAF) at its steel mill in Hamilton, Ontario. The subsidiary of multinational steelmaker ArcelorMittal SA said the project hinges on support from the Canadian government, which has agreed to contribute C$400 million […]
ArcelorMittal Dofasco plans to spend Canadian $1.77 billion ($1.41 billion U.S.) to install a new direct-reduced iron (DRI) plant and electric arc furnace (EAF) at its steel mill in Hamilton, Ontario. The subsidiary of multinational steelmaker ArcelorMittal SA said the project hinges on support from the Canadian government, which has agreed to contribute C$400 million […]