Wild swings in steel prices have become the norm rather than the exception during the 21st Century. It is not unusual to see prices move $40 to $100 per ton over a matter of days, and to double (or halve) in just a few months. How does a company that buys and sells steel manage the […]
Steel Market Update released the final detailed report on service center inventories and shipments to our data providers on Friday. It will be released to our Premium level members tomorrow. I mentioned in Thursday’s Final Thoughts that watching this data is one of the keys to figuring out when the market may get to a […]
Join CRU’s webinar on Feb. 17 on lowering carbon emissions and hear CRU’s leading analysts discuss how the global spotlight on sustainability has challenged commodity industries—namely steel and aluminum supply chains. Why attend? Gain visibility of emissions along the global steel value chain Understand what makes emissions data “good” and why it is necessary, if […]
The next Steel 101 Virtual Workshop: Introduction to Steel Making and Market Fundamentals will take place on Feb. 9-10, with an upcoming workshop planned for May, if you can’t make these dates. If you are considering attending or sending some of your employees, there are still limited places available for next week, so you can register online. […]
The next Steel 101 Virtual Workshop: Introduction to Steel Making and Market Fundamentals will take place on Feb. 9-10, with an upcoming workshop planned for May, if you can’t make these dates. If you are considering attending or sending some of your employees, there are still limited places available for next week, so you can register online. […]
Foreign steel continues to grow cheaper compared to steel made in the U.S., according to Steel Market Update’s latest foreign vs. domestic hot rolled steel price comparison, tempting buyers to consider purchasing imported steel. With U.S. HRC prices now at $1,150 per ton or higher, foreign HRC prices are theoretically $83-$323 per ton cheaper than […]
Among steelmaking raw materials, the prices of iron ore, pig iron and scrap saw large gains in January compared to months prior, up as much as 86 percent year over year. Coking coal prices, which rebounded compared to recent months, were still down 9 percent in January versus prices one year ago. Zinc prices have declined […]
Steel Market Update’s check of the market this week puts the current price for hot rolled at a new record high of $1,150 per ton ($57.50/cwt). But with increases of just $10 per ton in the last couple weeks, the upward momentum in pricing appears to be slowing. SMU keeps a close eye on the […]
The following article on the hot rolled coil (HRC), scrap and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week: Hot Rolled Price and forecast volatility continue to plague the ferrous markets, but how close are we to the top? Hot rolled […]
We continue to receive registrations for the 32nd annual Tampa Steel Conference to be held virtually next week on Feb. 2. We expect over 400 attendees once the conference opens. Here are some of the companies that registered just this week, those with an asterisk (*) next to their name means they have more than one person […]
I received a call from Cleveland-Cliffs in response to an inquiry I had made a couple of weeks back regarding the #6 blast furnace at their Cleveland steel mill. Cliffs wanted to make sure I understand as the #6 blast furnace comes back online that it is not to increase production, only to replace the […]
I received a call from Cleveland-Cliffs in response to an inquiry I had made a couple of weeks back regarding the #6 blast furnace at their Cleveland steel mill. Cliffs wanted to make sure I understand as the #6 blast furnace comes back online that it is not to increase production, only to replace the […]
Foreign steel from almost anywhere else in the world is now cheaper than steel made in the U.S., according to Steel Market Update’s latest foreign vs. domestic hot rolled steel price comparison, tempting more and more buyers to consider ordering imports. With U.S. HRC prices now over $1,100 per ton, foreign HRC prices are theoretically […]
Steel training workshops are a good way to learn something new, to help motivate yourself or your employees, to meet new people and develop new sources and contacts within the industry. SMU has developed excellent programs from the basics about how steel is made, bought and sold, and the market forces that move prices, all […]
Steel training workshops are a good way to learn something new, to help motivate yourself or your employees, to meet new people and develop new sources and contacts within the industry. SMU has developed excellent programs from the basics about how steel is made, bought and sold, and the market forces that move prices, all […]
Earlier this week I received a note from one of our readers regarding the plate price index and the changes we recently made to the index (FOB Mill vs. Delivered pricing). We were asked how we are accomplishing this, and how do our members reconcile the historical data that was based on delivered pricing versus […]
By CRU Senior Analyst Ryan McKinley and Analyst Dave Thewlis, from CRU’s Steel Long Products Monitor U.S. domestic long product prices rose further m/m in January, hitting multi-year highs (see chart) as limited supply met with strong demand. Buyers are increasingly relying on domestic mills to acquire material, as global prices have made importing less […]
By CRU Analyst Sam Grant, from CRU’s Steel Sheet Products Monitor Galvanized steel sheet equates to around 30% of refined zinc demand, making it the most significant first use for zinc globally. China is by far the world’s largest producer, responsible for 33% of the global total, with North East Asia, North America and Europe […]
By CRU Principal Economist Alex Tuckett and Chief Economist Jumana Saleheen from CRU’s Global Economic Outlook This month has brought good and bad news. On the one hand, vaccines are being rolled out, and further U.S. fiscal stimulus looks increasingly likely. On the other hand, the growing severity of the second wave of COVID-19 means […]
On Wednesday at noon the Biden administration will take over the Executive Branch of the U.S. government. President Biden is planning on hitting the ground running as he works to control the pandemic, put the U.S. back in the Paris Climate Accord, and (unfortunately) deal with a country fractured by Trump insurrectionists. Biden has made […]
By Greg Wittbecker, Advisor, CRU Analysis An administrative change in Washington, D.C., arrives this week. Some of the parties with vested interests in Section 232 are already messaging the Biden administration. On Jan. 13, the American Primary Aluminum Association (APAA), which consists of Century Aluminum and Magnitude Seven Aluminum, sent a letter to President-elect Biden […]
By Greg Wittbecker, Advisor, CRU Analysis The primary aluminum industry has operated with the same technology since the large-scale production process was developed in 1886. It is a carbon-based electrolytic process. This process generates a lot of CO2. Global aluminum producers have been focused on reducing GHG for some time, but efforts have accelerated in […]
By CRU Research Analyst Yusu Mao, from CRU’s Global Steel Trade Service Last week, Turkish scrap import prices fell for the first time since September 2020. CRU recorded two deals and assessed HMS 1/2 80:20 at $446 /t CFR (- $34 /t w/w, -$27 /t m/m). The enlarged spread between HMS 1/2 80:20 and shredded […]
By CRU Prices Analyst George Pearson from CRU’s Steel Sheet Products Monitor HR coil import prices and lead times are now competitive with domestic mills in the U.S. and Europe. Both markets remain tight in the short-term, but this is giving buyers more optionality for forward deliveries than in previous months and some negotiation power […]
By CRU Senior Analyst Erik Hedborg, from CRU’s Steelmaking Raw Materials Monitor In the past week, iron ore has witnessed its steepest price fall since July 2019. Declining steel margins in China and mills having successfully built up inventories, in combination with an upcoming Chinese New Year (CNY) holiday, resulted in weaker buying interest. Supply side […]
By CRU Prices Analyst George Pearson, from CRU’s Steel Sheet Products Monitor Sheet order volume decreased in the last week across regions as several buyers have recently placed forward orders and are now covered for deliveries. Prices remain stable at a high level because mills are well-booked and lead times are long. China is slowing down ahead of its New Year holiday next week. […]
By CRU Analyst Dave Thewlis, from CRU’s Steel Long Products Monitor U.S. long product prices continued to surge into the month of February due to ongoing market tightness and strong demand. Imports remain too costly to seriously consider for the majority of buyers, given high international steel prices coupled with costly shipping rates and tariffs. Rebar […]
By Greg Wittbecker, Advisor, CRU Analysis Like the steel industry, the aluminum industry has long recognized the economic value of scrap. Every time virgin aluminum prices have risen, buyers have accelerated substitution of scrap for virgin metal. Now, economic sensibility has been married to the new focus on sustainability. Consumer-facing market segments are leading the […]
By CRU Principal Analyst Josh Spoores, from CRU’s Steel Sheet Products Monitor Higher steel sheet prices continue to be assessed across most global markets. Reflecting this, CRU’s Global Flat Products Steel Price Indicator (CRUspi flats), has risen for the seventh consecutive month, reaching 238.2, its highest reading since September 2008. This indicator is now 56% […]
By CRU Principal Analyst Matthew Watkins, from CRU’s Steel Sheet Products Monitor Prices in Europe have surged higher once more over the past month, though the pace of weekly increases is showing signs of changing. Overall, our 2nd Wednesday price in February is much higher m/m for all sheet products across Europe. This continues what is […]