Tag: CRU

The US hot-rolled coil (HRC) premium over offshore product declined this past week, as prices abroad moved up while domestic tags declined, according to SMU's latest foreign vs. domestic price analysis.

The US hot-rolled coil (HRC) premium over offshore product declined this past week, as prices abroad moved up while domestic tags declined, according to SMU’s latest foreign vs. domestic price analysis. HRC tags stateside declined $20 per ton vs. the prior week, slipping to their lowest level since mid-February. Domestic prices are now down $290 […]

By CRU senior analyst, Ryan McKinley Oversupply in most markets of the world is easing. The key trend we are following (and expecting to occur) is further output cuts in China, which should keep many markets more stable than they have been recently. In China, sheet oversupply will not ease in the coming week given […]

With demand trending lower throughout out the first half of 2023, the aluminum industry is searching for something to be optimistic about. Recent economic news is leaning positive, with inflation slowing across multiple measures including the Producer Price Index (PPI) and manufacturing final goods’ pricing. Personal consumption expenditure has slowed from its peak but sustained […]

June 1 was the most recent low for CME Midwest HRC futures. At that time, the curve was approximately flat around $800 per short ton (st). Since then, the August future has rallied $188/st, settling today at $983/st, while the September future has rallied $160/st, settling today at $953/st. The chart below compares the curve […]

The US hot-rolled coil (HRC) premium over offshore product has changed little over the past few weeks, as both prices abroad and stateside have inched up in tandem recently, according to SMU’s latest foreign vs. domestic price analysis. HRC tags stateside are still down $280 per ton since peaking at $1,160 per ton back in […]

It’s the time of year when I’m going to be banging the drum about Steel Summit – even in the lede to Final Thoughts 🙂 We’ll get to the latest steel market trends in a moment. But first I want to highlight that hotels are still available near the Georgia International Convention Center (GICC) in Atlanta, where […]

The LME aluminum 3-month price is moving down again after the 4th of July holiday and was last trading near $2,130 per metric ton (as of the writing of this article on July 7). The fact that the price resumed sharp declines and is not challenging the next resistance at $2,200 per metric ton shows […]

The United States and Indian governments have agreed to terminate six disputes at the World Trade Organization (WTO). Benefits from the settlement include opening the US to more shipments of steel and aluminum made in India, according to New Delhi. “As a part of the agreement, the US has agreed to grant market access to […]

With the US aluminum industry at a critical juncture, a new report is highlighting ways the Biden administration can use the Global Arrangement for Sustainable Steel and Aluminum (GASSA) to help the struggling domestic industry. Recall CRU’s aluminum analysts have previously shared with SMU the nightmare US aluminum smelters have been facing when it comes […]

US-EU talks on a global arrangement on carbon emissions are back in the news, and the latest is that Europe might have sunk a potential deal with the States, according to reporting from The Financial Times. If no deal is reached, Section 232 tariffs of 25% on steel from the EU could be reinstated. That […]

France’s labor inspectorate has told Luxembourg-headquartered ArcelorMittal to temporarily close the hot end of its Fos-sur-Mer steel works because insufficient protection measures are exposing employees to high levels of toxic products and dust. The order will lead to the shutdown of the entire site, local media reported. The plant has been the subject of several […]

US hot-rolled coil (HRC) remains at a premium to offshore product, even as recent price declines have brought domestic hot band to its lowest mark since mid-February, according to SMU’s latest foreign vs. domestic price analysis. HRC tags stateside are down $285 per ton since peaking at $1,160 per ton back in mid-April, and are […]

European sheet prices have declined sharply by €112-146 per metric ton ($110-144 per net ton) month-on-month (MoM), around 12-18% across all sheet products. In CRU’s latest assessment, German hot-rolled coil decreased by €125 MoM to €689 per metric ton ($680 per net ton), while Italian HR coil saw a drop of €146 to €657 per […]

CRU research manager Stephen Williamson shares an update on the aluminum market and pricing with SMU readers. This article was written The LME rallied in the days following the debt ceiling resolution by Congress and the price of aluminum pressed towards $2,300 per metric ton. This week, however, the price fell back through a key […]

Offshore hot-rolled coil (HRC) remains at a discount to domestic product, though the US premium is at its lowest mark in nearly four months, according to SMU’s latest foreign vs. domestic price analysis. Prices for hot band stateside have eroded sharply over the past few weeks, down $115 per net ton so far in June, […]

SMU’s Steel Summit Conference 2023 is two months away, and it’s never too early for attendees and prospective attendees to start preparing for how to take advantage of the conference’s resources. CRU principal analyst Josh Spoores sat down with SMU managing editor Michael Cowden and senior analyst David Schollaert on Tuesday for a webinar in […]

We are counting down the days until SMU’s Steel Summit Conference on Monday-Wednesday, Aug. 21-23, in Atlanta. It’s only a little over two months away. Approximately 755 people have already registered. Our discounted room blocks are almost gone. Register here. The event will again be held at the Georgia International Convention Center, a massive conference center in close […]

Offshore hot-rolled coil (HRC) remains at a discount to domestic product, as prices abroad have eroded at a faster pace than tags stateside, according to SMU’s latest foreign vs. domestic price analysis. While prices of both imported and domestic hot band continue to decline, domestic HRC’s declines have not been consistently as sharp as the […]

The US Federal Reserve has taken some pressure out of the market by announcing a pause in interest rate hikes, leaving rates at 5% to 5.25% after more than a year of consecutive rate increases. The decision on Wednesday came a day after official figures showed US inflation was 4% – the lowest pace of […]

Metallics prices have fallen in most global markets over the last month, driven by weak steel demand and improved metallics supply. Lower finished steel prices and EAF margins have weighed heavily on metallics prices across major markets. Scrap bids from key buyers have reduced further amid ample availability, while recent pig iron price cuts have […]

With the 2023 SMU Steel Summit quickly approaching, SMU is in full-blown planning mode. Our preparations have me reflecting on last year’s event and what I personally can do to better take full advantage of all the opportunities this year’s event will bring. (Note: CRU and SMU are hosting a free pre-conference webinar on Tuesday, […]

The US and European Union are working on an agreement dealing with carbon emissions in the steel industry. The impact on bilateral trade could be high. In 2021, the US and EU agreed that the US would suspend the 25% Section 232 tariffs on steel and aluminum, and the EU would drop its World Trade […]

The LME aluminum three-month price is moving higher again as the week ending June 9 closes trading at $2,230/t. Failing to dip below the critical transition price of $2,000/t, The LME steadied itself despite very lackluster demand anywhere in the world. Trading in China also kept the regional exchange there neutral, if not a bit […]

Hot-rolled coil (HRC) imports remain at a discount to domestic hot band, though the US premium has declined to its lowest margin in over three months, according to SMU’s latest foreign vs. domestic price analysis. While both offshore and US product continue to decline, domestic HRC just saw its sharpest week-on-week (WoW) fall year to date, […]

The Iron Ore Company of Canada (IOC) is starting to idle its mine, concentrator and pellet plant near Labrador City because of the impact of wildfires in Quebec province.   The actions follow the Rio Tinto-owned company suspending transport on its 418km Quebec North Shore and Labrador Railway (QNS & L) linking the mine to […]

Governments need to speed up permitting of new mines to boost the chances of meeting a surge in demand for raw materials vital to feed the transition to clean energy, according to Teck’s CEO Jonathan Price. “Across government and industry, there is growing awareness that supporting the low-carbon transition and our growing population means meeting […]

The LME aluminum three-month price continued to make steady gains on the morning of June 2 and was seen trading at $2,308/t. The move marks the successful test of the key $2,200/t support earlier last week. SHFE aluminum prices also traded higher on that day. The cash price settled at RMB18,585/t and last traded at RMB18,665/t, […]

On May 28, current Turkish President Recep Tayyip Erdogan won the Turkish presidential election in the runoff with 52.1% of the vote. We therefore expect the Turkish economy to maintain its current unorthodox macroeconomic course with a relatively loose monetary policy, although inflation is enormously high.  The New Turkish Economic Model The Turkish economy, including […]

Hot-rolled coil (HRC) imports remain at a discount to domestic hot band tags as both offshore and US product continue to decline at a similar rate, according to SMU’s latest foreign vs. domestic price analysis. Even as domestic tags have been on a seven-week decline, HRC imports have fallen at a comparable rate, keeping US hot […]