Join us in Memphis, Tenn., for the next LIVE Steel 101 workshop on April 19-20, 2022. We are pleased to offer our first in-person course since the pandemic and will include an in-person tour of Nucor Steel Arkansas. Steel Market Update’s Steel 101: Introduction to Steelmaking & Market Fundamentals workshop has been helping businesses empower their employees (from […]
By CRU Principal Analyst Matthew Watkins and Research Analyst Christopher Dix, from CRU’s Global Steel Trade Service, Feb. 28. Contributors Erik Hedborg, Dmitry Popov, Ryan McKinley and Clare Hanna. Following the escalation of the situation in Ukraine, we set out what positions Russia has currently in the export market through the steel value chain. In the short term […]
By CRU Multi Commodity Analyst Alex Christopher and Research Analyst James Mills, from CRU’s Steel Sheet Products Monitor, March 3 The sanctions imposed on Russia over its invasion of Ukraine will have direct and indirect implications for commodity markets, and their impact will be felt by everyone involved along the length of commodity value chains. […]
By Matthew Abrams, Analyst, CRU Group Now that we have seen the first steps of an invasion into Ukraine by Russian forces, the business concerns shift to the possibility of sanctions and how severe they might be. While initially the aluminum market itself is not expected to be directly targeted, there are various potential and […]
You don’t need SMU pontificating about how the Russia-Ukraine conflict marks the end of the post-WWII order. Suffice it to say the world we woke up to today is vastly different from the one we reported on in our last edition. We’re also getting used to thinking about things we haven’t had to think about […]
Steel Market Update sources expect ferrous scrap prices to rise by at least $30/GT, and probably more, in most regions next month, following substantial declines in January and February. On the metallics front, mills around the world are watching anxiously to see how the conflict in Ukraine will impact pig iron supplies and prices. “The […]
By CRU Multi Commodity Analyst Alex Christopher and Research Analyst James Mills, from CRU’s Steel Monitor, Feb. 17 The only certainty about the heightened state of East-West relations playing out over Ukraine is that the stakes are high. The gulf between Russian security concerns and guiding principles of NATO, the EU, and western liberalism are […]
By CRU Principal Analyst Erik Hedborg and Senior Coal Analyst Dmitry Popov, from CRU’s Steelmaking Raw Materials Monitor, Feb. 24 On Feb. 24, Russia launched an invasion of Ukraine as President Vladmir Putin ordered a large-scale “specialized military operation.” Russian troops entered Ukrainian territory – from Belarus in the north, the separatist-controlled regions in the […]
Cleveland-Cliffs Inc. will indefinitely idle the No. 4 blast furnace at its Indiana Harbor steelmaking campus in northwest Indiana. The Cleveland-based steelmaker also announced that it was raising prices for April orders of carbon hot-rolled, cold-rolled and coated flat-rolled steel by at least $50 per ton ($2.50 per cwt). Cliffs will transfer hot metal production […]
By Greg Wittbecker, Advisor, CRU Group We all read the same financial press. I am sure the readers share the feeling that it is always interesting when you hear experts opining about something in your chosen area of expertise. I was reminded of this when reading recent remarks from Jeff Currie, the widely respected and […]
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 […]
Editor’s note: SMU Contributor David Feldstein is president of Rock Trading Advisors. Rock provides customers attached to the steel industry with commodity price risk management services and market intelligence. RTA is registered with the National Futures Association as a Commodity Trade Advisor. David has over 20 years of professional trading experience and has been active […]
Editor’s note: SMU Contributor David Feldstein is president of Rock Trading Advisors. Rock provides customers attached to the steel industry with commodity price risk management services and market intelligence. RTA is registered with the National Futures Association as a Commodity Trade Advisor. David has over 20 years of professional trading experience and has been active […]
Foreign steel imports from the three regions tracked by Steel Market Update have nearly lost their price advantage over domestic steel, according to our latest foreign versus domestic hot rolled steel price comparison. Foreign HRC prices are now theoretically just $7-80 per ton cheaper than domestic steel, after taking freight costs, trader margins and tariffs […]
Michael Cowden and I will be joining more than 400 executives from steel mills, trading companies, manufacturing, distribution, logistics, as well as various warehouses and ports this week in Tampa. On Monday afternoon, we will begin the networking portion of the Tampa Steel Conference, now celebrating its 33rd year. There is still time to register, […]
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 Economist Veronika Akhmadieva and CRU Senior China Economist Henry Hao from CRU’s Global Economic Outlook, Feb. 14 The last day of 2021 marked the end of the two-year period during which China agreed to increase imports of certain goods and services from the U.S. by a combined $200 billion. These targets have been […]
On the price front, we’re below $1,200 per ton ($60 per cwt) for hot-rolled coil the first time in almost exactly a year, which had me going back and checking some of the headlines we had a year ago. A recurring theme is that just about everything that happened last year is happening in reverse […]
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 Greg Wittbecker, Advisor, CRU Group Given the fact that the standoff in Ukraine is ongoing, we thought it appropriate to stay on this theme of Russian aluminum supply and how the Russians try to overcome sanctions. The Ties that Bind Us Together – Russia and China Russia and China have a long association going […]
By Greg Wittbecker, Advisor, CRU Group Nucor and Steel Dynamics Inc. (SDI) chose to acquire major metal recycling companies just before the Global Financial Crisis. SDI purchased Omnisource for slightly more than $1 billion in November 2007. Nucor followed suit with its $1.4 billion takeover of The David J. Joseph Co. in March 2008. The […]
Hot rolled imports continue to tempt U.S. buyers with potential discounts of 14-23% over domestic prices, according to Steel Market Update’s latest foreign versus domestic price comparison. Foreign hot rolled steel prices are now theoretically $177-283 per ton cheaper than domestic steel, after taking freight costs, trader margins and tariffs into consideration. However, this foreign […]
In two weeks, we will be in Tampa, Fla., to celebrate the 33rd edition of the Tampa Steel Conference. The long-range forecast is for sunny skies and 70-degree temperatures. We expect 400+ steel, manufacturing, mill, trading company, port, and logistics companies at this year’s conference. This will be the highest in-person attended Tampa Steel Conference […]
By Greg Wittbecker, Advisor, CRU Group In early December, we first sounded the alarm about the threat to aluminum supply should sanctions be re-applied to the Russians. It’s appropriate to update the situation now given some other changes in the aluminum supply-demand equation. European Primary Production Curtailments are Bigger and Deficit is Larger Higher power […]
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 […]
Editor’s note: SMU Contributor David Feldstein is president of Rock Trading Advisors. Rock provides customers attached to the steel industry with commodity price risk management services and market intelligence. RTA is registered with the National Futures Association as a Commodity Trade Advisor. David has over 20 years of professional trading experience and has been active […]
I don’t want to lead prices down, but I don’t think it’s any secret at this point that sheet prices are falling fast. “The prophecies have been borne out,” is how one mill executive put it. What does that look like in practical terms? Some mills are offering hot-rolled coil at about $1,200 per ton […]
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 […]
Ferrous scrap prices in the U.S. saw a big, $60-per-ton drop in January – a surprise in a month when scrap prices usually rise. That makes it trickier than usual to predict what will happen to scrap prices in February. Experts said the January decline brought domestic prices more in line with foreign, and also […]
By Greg Wittbecker, Advisor, CRU Group One of the hot topics resonating through commodity market forecasts is the risk to demand from a faltering Chinese real estate market. The well-publicized financial difficulties of Evergrande have raised fears that the property markets could destabilize. Other developers such as Kaisa and Sinic Holdings have also struggled to […]