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 […]
Ferrous scrap prices in the U.S. are likely to see a big jump in June, estimated at $50-60 per gross ton or more, primarily as a result of strong demand from foreign buyers, sources tell Steel Market Update. “June will bring significant price increases for ferrous scrap. The biggest factor is the strength of the […]
U.S. Steel’s mill in Košice, Slovakia, must swap out its blast furnaces for electric-arc furnaces (EAFs) to survive in a decarbonizing world, a government official said. The problem: Doing so doesn’t come cheap. The change would cost approximately €1.5 billion ($1.8 billion), Slovakian Finance Minister Igor Matovič said per reports in local media. “If we want […]
Ah, remember the good old days… In this month’s galvanized steel conference call with HARDI wholesalers, one of the manufacturing companies discussed the frustrations of buying foreign steel, issues with late deliveries and then difficulties moving the steel from the port to his manufacturing facilities. Traders expressed frustrations related to freight issues (ship and truck). […]
Ah, remember the good old days… In this month’s galvanized steel conference call with HARDI wholesalers, one of the manufacturing companies discussed the frustrations of buying foreign steel, issues with late deliveries and then difficulties moving the steel from the port to his manufacturing facilities. Traders expressed frustrations related to freight issues (ship and truck). […]
Some foreign steel imports are slowly losing their price advantage over domestic steel, according to Steel Market Update’s 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 favor of foreign producers. Those spreads have […]
Time for Good News… It is time for optimism as the pandemic begins to fade in the USA, reported a Washington Post article posted at 2:18 p.m. this afternoon. Today, the Centers for Disease Control (CDC) stated that fully vaccinated Americans no longer need to wear masks indoors or outdoors. “Americans who are fully vaccinated […]
2021 SMU Steel Summit Conference Revised Agenda as of May 9, 2021 The 2021 SMU Steel Summit Conference will be held at the Georgia International Convention Center on Aug. 23-25. The convention center is conveniently located next to the Atlanta International Airport (ATL). The center and the hotels surrounding it are at the first stop […]
2021 SMU Steel Summit Conference Revised Agenda as of May 9, 2021 The 2021 SMU Steel Summit Conference will be held at the Georgia International Convention Center on Aug. 23-25. The convention center is conveniently located next to the Atlanta International Airport (ATL). The center and the hotels surrounding it are at the first stop […]
Join us for CRU’s Annual New York Steel Seminar featuring the outlook for steel and key considerations for navigating price volatility alongside the low carbon transition. Date: Wednesday, June 16, 2021 Time: 10:00 a.m. – 12:00 p.m. EDT Despite the pandemic’s impact now easing on the steel industry, domestic and global steel markets continue to face […]
Join us for CRU’s Annual New York Steel Seminar featuring the outlook for steel and key considerations for navigating price volatility alongside the low carbon transition. Date: Wednesday, June 16, 2021 Time: 10:00 a.m. – 12:00 p.m. EDT Despite the pandemic’s impact now easing on the steel industry, domestic and global steel markets continue to face uncertainty […]
Join us for CRU’s Annual New York Steel Seminar featuring the outlook for steel and key considerations for navigating price volatility alongside the low carbon transition. Date: Wednesday, June 16, 2021 Time: 10:00 a.m. – 12:00 p.m. EDT Despite the pandemic’s impact now easing on the steel industry, domestic and global steel markets continue to face uncertainty […]
Join us for CRU’s Annual New York Steel Seminar featuring the outlook for steel and key considerations for navigating price volatility alongside the low carbon transition. Date: Wednesday, June 16, 2021 Time: 10:00 a.m. – 12:00 p.m. EDT Despite the pandemic’s impact now easing on the steel industry, domestic and global steel markets continue to face uncertainty […]
Join us for CRU’s Annual New York Steel Seminar featuring the outlook for steel and key considerations for navigating price volatility alongside the low carbon transition. Date: Wednesday, June 16, 2021 Time: 10:00 a.m. – 12:00 p.m. EDT Despite the pandemic’s impact now easing on the steel industry, domestic and global steel markets continue to face uncertainty […]
Join us for CRU’s Annual New York Steel Seminar featuring the outlook for steel and key considerations for navigating price volatility alongside the low carbon transition. Date: Wednesday, June 16, 2021 Time: 10:00 a.m. – 12:00 p.m. EDT Despite the pandemic’s impact now easing on the steel industry, domestic and global steel markets continue to face uncertainty […]
I wish I could start off writing about something other than steel prices. That said, since I joined SMU from Fastmarkets AMM in early January, the news really has been the price. SMU’s average hot-rolled price on Tuesday, May 4, stood at $1,500 per ton ($75 per cwt). That’s a 12.8% increase from $1,330 per ton a month ago […]
By CRU Principal Economist Alex Tuckett and Chief Economist Jumana Saleheen, from CRU’s Global Economic Outlook Our forecast for global growth in 2021 remains unchanged, with downward revisions to Europe, India and China being offset by upward revisions to other countries, principally the U.S. Although risks remain, we remain confident that the world will see […]
By CRU Chief Economist Jumana Saleheen and Principal Economist Alex Tuckett from CRU’s Global Economic Outlook This month has seen strong signs that the speed of the recovery in the global industrial sector is feeding through to costs throughout the supply chain. Although this does present a risk to our forecast, our baseline case remains […]
By CRU Analyst George Pearson from CRU’s Steel Monitor Chinese prices have rebounded this week after three consecutive weeks of decline. However, trading in markets outside of China was lower last week as buyers waited for further developments in Chinese prices and this fed through to lower w/w gains in Europe and the U.S. U.S. […]
By CRU Chief Economist Jumana Saleheen and CRU Head of Fertilizers Chris Lawson, from CRU’s Steel Monitor Commodity prices have continued an upwards tear in 2021. Steel and its raw materials have seen the sharpest gains, but less well-known commodities such as fertilizers are also attracting attention. With such steep price rises, calls for a […]
By CRU Consulting CEO Rebecca Gordon and Principal Consultant Alex Laugharne The increasing momentum behind transportation electrification is driving new supply chains to evolve rapidly. Historically, long and lean automotive supply chains led to cost efficiencies. The challenges of developing entirely new suppliers and embedding sustainability objectives mean: working with many completely new suppliers who […]
By CRU Research Manager Charlie Durant and Peter Ghilchik, CRU Head of Multi-Commodity Analysis 2021 is shaping up to be a year of economic recovery. CRU is forecasting the fastest annual growth in the world economy for 40 years, underpinned by successful vaccination programs and supportive fiscal and monetary policy. 3+1 Macro Themes In January, we […]
By CRU’s Economics Team The Biden administration has recently announced a $2.2 trillion American Jobs Plan (AJP) spending package, which includes around $1 trillion of spending on infrastructure. In this slidepack, we set out what this could mean for metals demand and the wider U.S. economy. Our analysis suggests that the AJP could boost demand […]
Foreign hot rolled steel prices remain attractive compared to steel sourced domestically, albeit at a lesser potential discount than 1-2 months ago, as foreign import prices are now increasing at a greater rate than domestic prices. U.S. buyers continue to place orders for foreign material despite long lead times for delivery. Foreign prices still hold potential […]
Sometimes it seems like the faster I move the further behind I get…. I think steel buyers are beginning to realize they have precious little control over this market, and they are just along for the ride. As I reviewed the results of this week’s flat rolled and plate steel market trends analysis (our steel […]
When I started Steel Market Update in August 2008 and I began to look at steel prices, I did so from a different viewpoint than the indexes that already existed. Having just completed a 31-year career in selling flat rolled steel, I believed what was most important for steel buyers to understand was the range […]
With trading for May not quite finished this week, ferrous scrap prices appeared surprisingly strong, with obsolete grades up about $20/GT and prime grades moving sideways. Steel Market Update sources put the May price for shred in the range of $450-460 per gross ton, busheling at $590-600 per gross ton, and P/S at $440-445 per […]
Nucor, SDI and Cliffs all announced earnings last week. All of the CEOs are quite bullish as all of their flat rolled mills are running at full capacity. And with pricing now in excess of $1,400 per ton for benchmark hot rolled, the mills are reporting record or near record quarterly profits for first-quarter 2021. […]
Everything You Want to Know About This Year’s Conference There is much to talk about at this year’s SMU Steel Summit Conference as the industry deals with record high prices, strong demand, challenges to supply, questions about trade, new steel mills about to come onstream and more recently announced, automotive moving to electric vehicles, questions […]
Everything You Want to Know About This Year’s Conference There is much to talk about at this year’s SMU Steel Summit Conference as the industry deals with record high prices, strong demand, challenges to supply, questions about trade, new steel mills about to come onstream and more recently announced, automotive moving to electric vehicles, questions […]