We don’t get to choose when we were born. We don’t choose what natural disasters, epidemiological emergencies, stock market crashes, tyrannical regimes, or wars our generations face. We only get to choose how we react. (Professor Wendy Beth Hyman of Oberlin College to her students on March 11, 2020). Thank you for bearing with us […]
By CRU Senior Analysts Ryan Smith and Andrew Gadd, from CRU’s Steelmaking Raw Materials Monitor Oil markets have had a torrid 2020, with the combination of demand losses due to Covid-19 and the breakdown of coordination between major producing countries resulting in plummeting prices. In this Insight, we assess how this oil price shock influences […]
Today we officially took our SMU Price Momentum Indicator on hot rolled, cold rolled, and galvanized to Lower from Neutral. We are leaving Galvalume and plate at Neutral. We have seen prices slipping over the past few weeks, and we do not see any immediate signs of that trend reversing itself. There will be questions […]
Ferrous scrap prices most likely will move lower in July as scrap supplies are increasing at a greater pace than steel demand. Finished steel prices have shown some weakness lately as the market struggles to get back on track and are unlikely to get any help from scrap next month. Ferrous scrap prices rose $30-40 […]
By CRU Prices Analyst George Pearson, from CRU’s Steel Monitor Steel sheet prices in the U.S. Midwest market were mixed this week with slight declines for both HR and HDG coil, while CR coil was slightly higher. Market contacts have noted that markets are weakening as demand has not come about as previously expected. Lead […]
By CRU Senior Cost Economist Ross Cunningham, from CRU’s Steelmaking Raw Materials Monitor The Brent crude price is often deemed a bellwether for the global economy. A high oil price increases inflation and impacts economic growth. It influences global confidence, affects investment decisions and weighs on exchange rates—particularly those of large oil exporters. In the […]
Virtual Summit Networking – better than in real life? The SMU Steel Summit Virtual Conference will have a strong focus on networking, to facilitate business and to give you that human connection. From the minute you enter the virtual venue you’ll be able to see everyone else who is there and can start networking and […]
CRU analysts, speaking during a virtual version of their Annual New York Steel Briefing earlier today, said volatility is in the cards for steel pricing as demand increases and new EAF capacity comes online. CRU forecasts sheet consumption will fall 17.6 percent or 12.4 million metric tons year-over-year in 2020, and long and plate products […]
By CRU Senior Analyst Helen O’Cleary, from CRU’s Zinc Monitor U.S. industrial production increased by only 1.4 percent in May, well short of expectations, but market sentiment is generally positive as the Fed has confirmed it will do “whatever it takes for as long as it takes” to help get the economy back on track […]
Why leave your employees in the dark? Last week we had one of our member companies upgrade to an Enterprise membership, and they added 429 of their employees to their account. Today, we had a steel mill ask to add another 100 people onto their existing account. From our inception, the goal of Steel Market […]
Why leave your employees in the dark? Last week we had one of our member companies upgrade to an Enterprise membership, and they added 429 of their employees to their account. Today, we had a steel mill ask to add another 100 people onto their existing account. From our inception, the goal of Steel Market […]
So, John… What is happening with the SMU Virtual Steel Conference this week? I am happy you asked. We continue to book more attendees as more and more companies are beginning to realize we are trying to create something unique in this age of the COVID-19 pandemic. We are pushing 300 registered attendees, and that […]
By CRU Prices Analyst Estelle Tran, from CRU’s Global Steel Trade Service U.S. automaker restarts in May drove an increase in steel demand and helped to prop up sheet prices. There is concern, however, over whether there is enough new demand to support mills restarting or if manufacturers are mainly managing pent-up demand. We’ve heard […]
Happy Father’s Day to all the dads out there. I hope you got to enjoy some quality time with your kids earlier today. There has been a call on the Commerce Department to review exports of steel and aluminum from Canada and Mexico. There is a question if exports of these products have “surged” since […]
This week’s SMU comparison of foreign and domestic hot rolled prices shows that U.S prices have started to gain a greater advantage over foreign imports, according to SMU and CRU indices. After shrinking in May, the price gap between domestic HRC compared to German and Italian imports has now slightly widened, while the East/Southeast Asian […]
Flat rolled steel price momentum, for spot pricing out of the domestic mills, continues to be in transition, and the SMU Price Momentum Indicator is at Neutral. Neutral means spot mill pricing could go in either direction over the next 30 days. However, SMU and our parent company CRU have both been reporting lower spot […]
Flat rolled steel price momentum, for spot pricing out of the domestic mills, continues to be in transition, and the SMU Price Momentum Indicator is at Neutral. Neutral means spot mill pricing could go in either direction over the next 30 days. However, SMU and our parent company CRU have both been reporting lower spot […]
I know I speak on this subject a great deal because it is a challenge and an opportunity for the steel industry, and I love challenges. I am counting on you recognizing the opportunities…. When it comes to the SMU Steel Summit Conference there are two keys to our success: 1) quality content and 2) […]
I know I speak on this subject a great deal because it is a challenge and an opportunity for the steel industry, and I love challenges. I am counting on you recognizing the opportunities…. When it comes to the SMU Steel Summit Conference there are two keys to our success: 1) quality content and 2) […]
By CRU Senior Analyst Erik Hedborg, from CRU’s Steelmaking Raw Materials Monitor Iron ore prices held steady in the past week as Chinese demand remained robust while seaborne supply registered another strong week. After struggling for most of 2020, shipments from Vale’s Northern System reached the highest level of the year in the past week. […]
It’s time to register for CRU’s 5th Annual New York Steel Briefing. The event, now virtual due to the coronavirus, will feature CRU analysts sharing their outlooks for steel and how to manage through volatile markets. Date: Tuesday, June 23, 2020 Time: 10:00 – 11:00 AM EST Overview: The Covid-19 pandemic has caused unprecedented disruption across domestic […]
It’s not too late to register for CRU’s 5th Annual New York Steel Briefing. The event, now virtual due to the coronavirus, will feature CRU analysts sharing their outlooks for steel and how to manage through volatile markets. Date: Tuesday, June 23, 2020 Time: 10:00 – 11:00 AM EST Overview: The Covid-19 pandemic has caused unprecedented disruption […]
My understanding from industry sources is that JSW Mingo Junction has returned their EAF and hot strip mill back to production this week. The mill was idled in April with JSW doing some work on the equipment. This will put some cheaper hot rolled coil into the market (one mill commercial officer telling me they […]
I need everyone to shake off your webinar fog…. The 2020 SMU Virtual Steel Summit Conference will not be a series of mind-numbing webinars. It is time to give you a peek at a mock-up of the lobby for the 2020 SMU Virtual Steel Conference. When you click on your registration link for our virtual […]
By CRU Prices Analyst George Pearson, from CRU’s Steel Monitor In the U.S. Midwest market this week, sheet prices were somewhat mixed with HR coil near steady w/w while HDG coil fell by $19 /s.ton to $650 /s.ton and CR coil inched up by $4 /s.ton to $697 /s.ton. Our full HDG coil price, reflecting […]
It’s time to register for CRU’s 5th Annual New York Steel Briefing. The event, now virtual due to the coronavirus, will feature CRU analysts sharing their outlooks for steel and how to manage through volatile markets. Date: Tuesday, June 23, 2020 Time: 10:00 – 11:00 AM EST Overview: The Covid-19 pandemic has caused unprecedented disruption across domestic […]
By CRU Senior Analyst Ryan McKinley, from CRU’s Metallics Monitor The CRU metallics price indicator (CRUmpi) increased slightly in June, rising by 2.9 percent m/m to 208.3. The reduction in lockdowns and other Covid-19-related restrictions across the globe allowed scrap to become more readily available as demand increased in major importing markets. In the near term, we […]
By Anh Nghiem, CRU Steel Prices Lead, from CRU’s Steelmaking Raw Materials Monitor The iron ore price was stable last week but increased sharply on Monday after the news on suspension of mining activities at Vale’s Itabira mining complex during the weekends due to the outbreak of the Covid-19 pandemic. The mine produced 36 Mt […]
By CRU Senior Analyst Erik Hedborg, from CRU’s Steelmaking Raw Materials Monitor The suspension of iron ore production at Vale’s Itabira Complex resulted in prices surging after the weekend. On Tuesday, June 9, CRU has assessed the 62% Fe fines price at $105.0 /dmt, up $4.5 /dmt w/w. In China, demand has remained robust as […]
By CRU Senior Analyst Erik Hedborg, from CRU’s Steelmaking Raw Materials Monitor In the past week, iron ore has fallen by $11 /dmt, the largest price drop since August 2019. The price fall comes after declining steel margins and slightly lower steel production levels in China. At the same time, offloading activities at Chinese ports have […]