The deadline to nominate a promising young standout from your organization for this year’s SMU NexGen Leadership Award is Friday, July 16. You can recognize those 35 years or younger whose drive, determination and leadership are making a difference by nominating them for the 2021 SMU NexGen Leadership Award this week. The award is sponsored by the […]
The Russian government has proposed levying tariffs on the country’s ferrous and non-ferrous exports from Aug.1 until year-end to offset extra costs faced by the state’s sub-contractors due to much higher metal prices. “In order to rule out price manipulation during export, as well as the temptation to understate the value of export contracts and […]
As we return to offices and in-person contact after more than a year of pandemic-induced anxiety, it is important to recognize the young people within your organization who stood out (or who are standing out) as examples of the next generation who are inspiring others, leading by example, or who have developed innovative solutions to […]
As we return to offices and in-person contact after more than a year of pandemic-induced anxiety, it is important to recognize the young people within your organization who stood out (or who are standing out) as examples of the next generation who are inspiring others, leading by example, or who have developed innovative solutions to […]
2021 SMU Steel Summit Conference Revised Agenda as of June 20, 2021 There are 55 days before the start to the 2021 SMU Steel Summit Conference. We should have close to 300 companies and 800+ executives attending this year based on where we are today. The conference agenda is close to its final shape. There […]
2021 SMU Steel Summit Conference Revised Agenda as of June 20, 2021 There are 55 days before the start to the 2021 SMU Steel Summit Conference. We should have close to 300 companies and 800+ executives attending this year based on where we are today. The conference agenda is close to its final shape. There […]
By CRU Prices Analyst Estelle Tran U.S. sheet prices are still trending higher, which has supported further gains in raw materials, slabs and imported steel. Even though CRU HR coil prices have increased 7.4% m/m to $1,655 /s.ton on June 16, market contacts still report a lack of workable offers, especially given lead times into […]
The traditional correlations between finished steel and scrap prices have broken down this year, and historical spreads might remain off-kilter as more electric-arc furnace (EAF) mills come online globally, CRU Senior Analyst Ryan McKinley said. Crude steel output via EAFs in North America is expected to grow by about 16 million metric tonnes, approximately 20%, […]
The spread between foreign and domestic steel prices has changed direction again since our last update, according to our latest foreign versus domestic hot rolled steel price comparison. The price differentials (after taking freight costs, trader margins and tariffs into consideration) between domestic HRC and foreign imports had surged from February to March of this year, reaching record […]
Steel prices will turn lower and quickly fall back in the next 6-12 months, but mill profitability will remain substantial, predicted Principal Analyst Josh Spoores during CRU’s virtual New York Steel Seminar on Wednesday. Steel prices have hit historic highs, with hot rolled offers at more than $1,700 per ton, as demand continues to outstrip supply. […]
The Art of Forecasting… This week I saw another milestone drop that I never thought I would live to see. Galvanized base pricing out of a domestic mill at $100.00/cwt (seems like there is an extra digit there for some reason). I go back far enough to remember galvanized steel prices around $10.00/cwt…. For the […]
The Art of Forecasting… This week I saw another milestone drop that I never thought I would live to see. Galvanized base pricing out of a domestic mill at $100.00/cwt (seems like there is an extra digit there for some reason). I go back far enough to remember galvanized steel prices around $10.00/cwt…. For the […]
By Senior Analyst Ryan McKinley, from CRU’s Steelmaking Metallics Monitor The CRU metallics price indicator (CRUmpi) increased by 8.6% m/m in June to 402.4. This increase is primarily a reflection of large price increases for scrap in Europe and the U.S., although some increases occurred in Asia as well. After rising substantially in May, pig iron […]
By Greg Wittbecker, Advisor, CRU Analysis We have just refreshed our expectations on aluminum for 2021 in our latest of the CRU Aluminum Market Outlook. Here are some of the key takeaways: Demand Is Strong The World ex China is into its recovery from the the Covid-19 pandemic. We expect to see sharp year-on-year growth […]
By Greg Wittbecker, Advisor, CRU Analysis Ten years ago the aluminum can, and the aluminum sheet mills that supplied them, looked to be on borrowed time. Aluminum beverage can shipments, as reported by the Can Manufacturers Institute (CMI) had been flatlining for years. Can manufacturers were consolidating, with Ball and Ardagh acquiring Rexam assets in […]
By CRU Principal Aluminum Analyst Guillaume Osouf The LME aluminum price has been going through a period of consolidation since it reached its last significant peak at $2,603 /t on May 10. A similar situation was observed between December 2020 and February 2021 before the rally resumed even stronger. Can we expect the same to […]
By Greg Wittbecker, Advisor, CRU Analysis On June 28, the Russian government announced the imposition of a 15% tax on aluminum exports. The tax is effective for the period August through December 2021 and covers most primary aluminum exports. This appears to be a case of the Russian government making an opportunistic “raid” on one […]
By Greg Wittbecker, Advisor, CRU Analysis The COVID-19 pandemic’s effects on overall aluminum demand in 2020 was well documented. However, that storyline masked a remarkable rebound in the demand for aluminum beverage cans. Data from the Aluminum Association shows this: • 2020 total domestic shipments of can stock supplied to the can market rose 3.3% […]
By CRU Senior Analyst Ryan McKinley, from CRU’s Steel Sheet Products Monitor Sheet prices in northern Europe, like in other areas of the world, have begun to decline – although prices in the USA have yet to follow this trend. Still, it appears that this upward trend in the U.S. market is nearing an end. […]
By CRU Senior Analyst Richard Lu, from CRU’s Steel Sheet Products Monitor In September 2020, President Xi Jinping formally announced that China will aim to achieve a peak in carbon emissions before 2030, followed by carbon neutrality before 2060. As part of the decarbonization efforts, the Chinese government at the start of the year announced […]
By CRU Principal Economist Alex Tuckett and Chief Economist Jumana Saleheen In this mid-year update to our global economic outlook, we look back at our expectations at the beginning of the year, and those of our surveyed clients, and compare them with actual outcomes over the past six months. Overall, the global economy is in vastly better shape […]
I thought it would be an interesting exercise to take a look at benchmark hot rolled pricing over the past 12 months. I thought I would compare the numbers on a month-over-month basis to give everyone an idea of how steep the price increases have been. At the same time, we can think about the […]
I thought it would be an interesting exercise to take a look at benchmark hot rolled pricing over the past 12 months. I thought I would compare the numbers on a month-over-month basis to give everyone an idea of how steep the price increases have been. At the same time, we can think about the […]
Infrastructure, Energy, Wind Farms, Tanners, Summit Conference, Imports. If you are watching the news, you are aware of the Biden administration’s push for a large (at least $1 trillion) infrastructure bill. There is a lot of discussion about what infrastructure entails in light of the current economy. It’s not your father’s economy. There is need […]
U.S. ferrous scrap prices have settled up $60 per gross ton on prime grades and up $50 per gross ton on obsoletes, according to market participants. “Regional markets were very consistent with the up $50 (per gross ton) on obsolete grades and up $60 (per gross ton) for primes,” one scrap executive said. “This resulted […]
I want to thank the National Association of Steel Pipe Distributors for giving me a chance to open their summer conference in Denver last week. I spoke about – what else, these days – steel prices. During the Q&A afterward and on the sidelines of the event, it was clear people were worried about (a) […]
I want to thank the National Association of Steel Pipe Distributors for giving me a chance to open their summer conference in Denver last week. I spoke about – what else, these days – steel prices. During the Q&A afterward and on the sidelines of the event, it was clear people were worried about (a) […]
The 2021 SMU Steel Summit Conference will be the first major steel conference to be held in person since the pandemic shut down all events across the world. Our conference will begin at 9 a.m. ET with our Pre-Summit Programs on Monday, Aug. 23. The official opening of the conference will be at 1 p.m. ET […]
Foreign steel imports from two of the three regions tracked by Steel Market Update are losing their price advantage over domestic steel, according to our latest foreign versus domestic hot rolled steel price comparison. The price differentials between domestic HRC compared to foreign imports had surged through February and March to reach record highs in […]
The U.S. steel industry stands to benefit in a big way should the government put a price on carbon emissions, according to a study by CRU, Steel Market Update’s parent company. CRU examined the potential impact of a standard fee on carbon emissions and an equivalent border carbon adjustment (BCA) and found that such policies could […]