We are delighted to announce that the next Introduction to Steel Hedging: Managing Price Risk course will run LIVE and in-person on Feb. 14-15, 2022, in Tampa, Fla. alongside the Tampa Steel Conference. Don’t miss this opportunity to meet face-to-face with our expert instructors to gain a thorough introduction to hedging in the flat rolled steel market, and to take advantage of the live […]
By CRU Chief Economist and Head of Sustainability Jumana Saleheen and CRU Principal Economist Alex Tuckett, from CRU’s Economic Outlook, Nov. 30 Global Economic Outlook November 2022 In this Global Economic Outlook, we look ahead to 2022 and outline our top 10 calls for the global economy. These include predictions on world growth, inflation, exchange […]
By Greg Wittbecker, Advisor, CRU Group Andy Grove, the former CEO of Intel, wrote a classic business book, “Only the Paranoid Survive.” One of the simple messages of that great read was to always pay attention to your competition. It’s for that reason, we thought it useful to update you on some of Alcoa’s recent […]
By CRU Analyst Tanya Bhaiji, from CRU’s Steel Sheet Products Monitor, Nov. 29 Galvanized sheet is the biggest first use for refined zinc, constituting around 30% of total refined zinc demand in 2020. The majority of galvanized sheet is consumed in end-use sectors such as construction and automotive while a smaller percentage is also consumed in […]
By CRU Senior Analyst Ryan McKinley, from CRU’s Steel Long Products Monitor, Dec. 1 Long product prices again moved higher in the USA m/m following a larger-than-expected scrap price increase and unseasonably strong demand. Mill-announced price increases for wire rod were the largest at $80 /s.ton m/m, while merchant bar and beam prices were also […]
By CRU Research Analyst Aaron Kearney-Keaveny from CRU’s Steelmaking Raw Materials Monitor Dec. 7 Iron ore remained largely stable in the past week, before rising noticeably on Monday and Tuesday, now standing at $108.0 /dmt. Supply is rising and demand seems stable, but speculation around China has resulted in the iron ore price rising yet […]
Foreign steel prices continue to tempt U.S. buyers with potential discounts of 24-43% over domestic steel, according to Steel Market Update’s latest comparison of domestic and foreign hot rolled steel prices. Foreign hot rolled steel prices are now theoretically $430-761 per ton cheaper than domestic steel, after taking freight costs, trader margins and tariffs into consideration. […]
Sometimes it is the little things that provide hints as to the direction steel prices will take. During our Steel 101 workshops, I use the example of when you hear from that steel salesman on what seems like a daily basis – that’s when you know a market is about to turn (or has turned). […]
Sometimes it is the little things that provide hints as to the direction steel prices will take. During our Steel 101 workshops, I use the example of when you hear from that steel salesman on what seems like a daily basis – that’s when you know a market is about to turn (or has turned). […]
By CRU Principal Analyst Matthew Watkins and Analyst Iris Speelmanns, part of CRU’s steel and the energy transition series When we think about hydrogen and steel, we generally focus on steel supply. Hydrogen is a possible alternate reductant, replacing coke and offering a pathway to low-CO2 steel production. But a hydrogen economy could also be a huge […]
December ferrous scrap prices are expected to trade sideways or up slightly after a surprise jump higher in November, Steel Market Update sources said. “December scrap is likely to move sideways, particularly for sales done at the higher end of the November range. For sales at the lower end, a $10-20 per ton ‘catch-up’ increase […]
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 […]
By CRU Economist Frank Eich and Sustainability Analyst Huan Chang, Nov. 22 The COP26 was heralded as a “moment of truth” in the race against climate change. In addition to the expected announcements, such as those on finance, there were also some unexpected ones, such as the pledges from the Indian government to address climate […]
By Greg Wittbecker, Advisor, CRU Group Prices are higher…. why aren’t we seeing more aluminum production? One of the most natural questions being asked in the world of aluminum is “with LME prices up so much year on year, why aren’t we seeing more capacity coming back to life?” It IS an appropriate question and […]
By CRU Senior Prices Analyst Estelle Tran, from CRU’s Global Steel Trade Service, Nov. 18 In the last several weeks, U.S. sheet prices have started to decline, though prices remain well above global prices. Under pressure from imports and service centers eager to sell high-cost inventory before the end of the year, prices for processed […]
By CRU Principal Analyst Matthew Watkins, from CRU’s Global Steel Trade Service, Nov. 18 There was a big price collapse in China over the past month. HR coil export prices have fallen by 13% since October and rebar is down by 10% in the same period. For HR coil, this means that China has returned […]
Steel industry legend Peter Marcus died unexpectedly overnight following a brief illness. As word of his death spread across the steel industry, people reached out to SMU not only with memories of the man but also of the forecasts that made him famous (some would say infamous). “Peter Marcus was the ultimate scholar of the […]
Steel industry legend Peter Marcus died unexpectedly overnight following a brief illness. As word of his death spread across the steel industry, people reached out to SMU not only with memories of the man but also of the forecasts that made him famous (some would say infamous). “Peter Marcus was the ultimate scholar of the […]
By CRU Senior Analyst Thais Terzian and Analyst Chris Bandmann, from CRU’s Crude Steel Market Outlet, Nov. 15 There is currently a lot of market discussion that the EU may act to restrict scrap exports. Here we look at who could be hurt and who might see opportunities. Other regions have already acted to protect […]
Hot-rolled coil prices continue to slide. And galvanized base prices are holding more or less steady. What gives? Check out the slide below. The green line is galvanized base prices. The blue line is lead times. Prices are on the left-hand side of the slide. Lead times are on the right. Prices have been around […]
New to the industry or want to learn more? The Steel 101 team is here to help! Steel Market Update’s Steel 101: Introduction to Steelmaking & Market Fundamentals workshop has been helping businesses empower their employees (from entry level to C-suite executives) for well over a decade. It’s sound advice to invest in your staff’s […]
By Greg Wittbecker, Advisor, CRU Group Quotas in exchange for exemption, a bad precedent for other countries There has been much written about the new détente between the EU27 and the USA in the aftermath of the deal to suspend duties on European steel and aluminum. There are also reports that something may also be […]
Algoma Steel posted record profits in its fiscal second quarter, and the Canadian flat-rolled steelmaker expects money to continue to pour in as high spot prices roll into 2022 contracts. The Sault Ste Marie, Ontario-based company also thinks that the traditional relationship between sheet and plate prices will be restored as infrastructure spending increases demand for […]
By CRU Principal Analyst Josh Spoores, from CRU’s Steel Sheet Products Monitor, Nov. 10 Global sheet prices have continued to fall, though declines have not been consistent across all regions. Overall, CRU’s Global Flat Products Steel Price Indicator (CRUspi flats) fell for the second consecutive month, declining by 2.9% and is now at its lowest […]
Even as domestic prices ease, foreign steel imports continue to tempt U.S. buyers with potential discounts of 24-43%, according to Steel Market Update’s latest comparison of domestic and foreign hot rolled steel prices. Foreign hot rolled steel prices are now theoretically $452-801 per ton cheaper than domestic steel, after taking freight costs, trader margins and tariffs […]
Steel buyers are “confused” as are some traders as to what deals are being offered into the hot rolled market right now. Steel Market Update has been advised by a couple of large HRC buyers of offers below $1,600 per ton ($80.00/cwt), while at the same time we have spoken to buyers who continue to […]
Steel Market Update will host a number of conferences and steel training workshops during calendar year 2022. Here is a select listing of events which will be held during the 1st Quarter 2022 plus a reminder of the dates for the 2022 SMU Steel Summit Conference which is the largest steel conference of its kind […]
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 […]
By CRU Chief Economist and Head of Sustainability Jumana Saleheen and CRU Research Manager Paul Butterworth There are no low-cost options when it comes to tackling climate change. Renewable energy is not cheaper than fossil-based power once the price of investment and storage are considered. Low-carbon energy will cost more. The only way to incentivize […]
Steel industry lobbying groups and trade unions cheered passage of the bipartisan House $1 trillion infrastructure bill – which experts estimate could result in millions of tons of new steel demand. The legislation devotes approximately $850 billion to steel-intensive infrastructure, according to estimates from the American Iron and Steel Institute (AISI). The House vote, which occurred late […]