By CRU Senior Analyst Erik Hedborg, from CRU’s Iron Ore Market Outlook Iron ore prices fell by $2 /dmt in the past week as port stocks continued to rise on high arrivals from Australia, while steel production in China declined slightly. On Tuesday, July 21, CRU has assessed the 62% Fe fines price at $111.0 […]
By CRU Prices Analyst George Pearson, from CRU’s Steel Sheet Products Monitor The U.S. Midwest market has continued to record lower weekly sheet prices. Our assessment of HR coil is now down $23 /s.ton since the July 1 assessment and market participants expect further price declines to emerge for all sheet products over the near […]
Nominations for the 2nd annual SMU NexGen Leadership Award, sponsored by the Steel Manufacturers Association, close on Aug. 1. There’s still plenty of time to make your nominations! The award is designed to recognize and celebrate the excellence of emerging leaders within the greater steel community. And every qualifying nominee will be given a free place at […]
By CRU Principal Analyst James Campbell, from CRU’s Steel Sheet Products Market Outlook Sheet demand collapsed in 2020 Q2 to the lowest level in a decade. As lockdowns eased in May, manufacturing activity improved, and prices increased in most regions. Global sheet demand is expected to improve in 2020 Q3 and accelerate in 2021. However, output will […]
By CRU Analysts Irina Melkonyan and Iris Speelmanns, from CRU’s Steel Sheet Products Market Outlook Russia is among the biggest steel exporters in the world, delivering to a wide range of destinations. However, steel demand in all regions diminished as the world was hit by Covid-19 and most steel producers globally have struggled. Unlike steelmakers […]
By CRU Chief Economist Jumana Saleheen, from the Steel Sheet Products Market Outlook There is widespread agreement that the dollar is overvalued by around 10 percent. CRU expects the trade weighted dollar (TW$) to remain overvalued and broadly stable for the rest of 2020, as pandemic uncertainty continues to support the dollar as a “safe-haven” […]
We are seeing further erosion in flat rolled steel pricing this week with the possible exception of Galvalume. Our sources are advising that hot rolled numbers are being offered in the low $400’s for tons. As capacity reopens at integrated mills, the possibility exists for HRC prices to breach the $400 per ton level for […]
After providing Tom Cullen, CEO of Magic Coil Products, a sneak preview of the platform for the 2020 SMU Virtual Steel Summit Conference he told us, “Wow! There is a lot to this.” So far, every single industry executive with whom we have shared insights into our platform (think of a platform as a special […]
By CRU Principal Analyst Josh Spoores, from CRU’s Steel Sheet Products Monitor Sheet prices in July at best rose very weakly, or else only held steady or fell in a number of markets versus our June 10 price assessments. The domestic Chinese market was alone in showing more than just a slight m/m gain. CRU’s […]
The 2020 SMU Virtual Steel Summit Conference promises to be much like every Steel Summit Conference: large audience, exceptional networking opportunities, strong exhibition area topped off by the strongest slate of speakers we have ever put forward. If you spend the few dollars needed to attend ($350 all in if your company is an SMU […]
The 2020 SMU Virtual Steel Summit Conference promises to be much like every Steel Summit Conference: large audience, exceptional networking opportunities, strong exhibition area topped off by the strongest slate of speakers we have ever put forward. If you spend the few dollars needed to attend ($450 is full price but $350 all in if […]
This week’s SMU comparison of foreign and domestic hot rolled prices shows that U.S prices continue 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, Italian, and East/Southeast Asian imports has widened over the last month. The following calculation […]
As expected, ferrous scrap prices declined in July, adding downward pressure to already weak finished steel prices. Steel Market Update sources report that obsolete scrap traded down $10-20 per ton, while prime grades were lower by $40 across the country. Scrap supplies have increased at a greater rate than steel production, say the experts, which […]
By CRU Prices Analyst George Pearson, from CRU’s Steel Monitor Sheet prices in the U.S. Midwest market have fallen from their early June peak as end-user demand, although higher than April and May, remains historically low. Over the near term, sheet prices will fall further as demand is limited by weak underlying economic activity and […]
Quite a bit has happened over the past two days as we have added new speakers and have had quite a few new registrations for the 2020 SMU Virtual Steel Summit Conference. First the speakers: SMU is pleased to announce the addition of Mark Millett, President & CEO of Steel Dynamics, and Maximo Vedoya, CEO […]
Quite a bit has happened over the past two days as we have added new speakers and have had quite a few new registrations for the 2020 SMU Virtual Steel Summit Conference. First the speakers: SMU is pleased to announce the addition of Mark Millett, President & CEO of Steel Dynamics, and Maximo Vedoya, CEO […]
By CRU Senior Analyst Erik Hedborg and Prices Analyst Rory Knight In the past four weeks, freight rates have nearly doubled as Brazilian iron ore shipments have increased while an increasing proportion of global exports are being shipped to distant markets, reducing fleet availability. This is benefiting European steelmakers, while hurting iron ore miners, particularly […]
The 2020 SMU Virtual Steel Summit Conference is coming together very nicely. Steel Market Update and our parent company the CRU Group have been working diligently on the agenda for the 2020 SMU Virtual Steel Summit Conference. We have been adding new speakers to the group we already had committed for the live event, and […]
Steel Market Update’s next Community Chat webinar on Wednesday, July 8, will host CRU Senior Analyst Ryan McKinley, who will offer an update on the global ferrous scrap market and answer metallics-related questions from listeners. Ferrous scrap prices began to trade this afternoon with obsolete grades dropping by $20 per gross ton, and prime grades […]
Steel Market Update’s next Community Chat webinar on Wednesday, July 8, will feature CRU Senior Analyst Ryan McKinley, who will offer an update on the global ferrous scrap market and answer metallics-related questions from listeners. This webinar begins at 11 a.m. ET and is free to anyone in the industry. Click here to register. {loadposition […]
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 […]