Tag: CRU

Foreign cold-rolled (CR) coil remains much less expensive than domestic product even as domestic prices continue to decline, according to SMU’s latest check of the market.

Brazil’s chamber of foreign trade, Camex, has approved quotas on imports of 11 steel products and a 25% levy on shipments 30% above a product’s average import volume between 2020 and 2022.

Hybar has big plans for entering the American steel market. Although it is the newest player in the US rebar market, the startup is led by an experienced, nimble, and ambitious team, and backed by investors with deep pockets. Industry titan and Hybar CEO David Stickler joined SMU Managing Editor Michael Cowden on Wednesday’s Community Chat to update the SMU community on the company’s first mill, and its grand plans for the future.

US hot-rolled (HR) coil price premium over offshore hot band has tightened on the back of lower domestic tags, though stateside HR coil remains markedly more expensive than imports.

Latest AA extrusion shipment report shows persistently weak demand The US Aluminum Association released its latest shipment report for extruded products. According to the report, shipments in March 2024 totaled 383.2 million pounds, representing a drop of 10.6% y/y but a rise of 4.5% m/m. For the YTD period through March, total shipments are now […]

What a difference a month makes. In late March, it seemed like the US hot-rolled (HR) coil market was poised to cycle upward. Large buyers had re-entered the market and placed big orders earlier in the month. Several outages were underway or upcoming. And expectations were that lead times would continue to extend. Cliffs said […]

Constellium reported its latest quarterly results for Q1'24. Adjusted Ebitda came in at €137 million (USD$147 million), down 8.6% year over year (y/y) amid revenue of €1.7 billion (USD$1.8 billion), down 12% y/y. Shipments totalled 380,000 metric tons (mt) in Q1, representing a drop of 2% y/y.

Foreign cold-rolled (CR) coil remains much less expensive than domestic product, according to SMU’s latest check of the market.

If successful in its overtures to Anglo American, BHP will create the world’s largest diversified miner by a country mile. The rationale for this merger is scale and in mining, size matters. 

Week-over-week trading activity in US steel derivatives markets was relatively muted, with prices maintaining their downward direction since the beginning of the month. Bids have materialized at the lower end of this range in the May, as the nearby backwardation continues to roll on - just as we saw with April being a premium over May.

US hot-rolled (HR) coil remains more expensive than offshore hot band, though with a tighter premium as prices stateside and abroad have ticked lower in recent weeks.

Steel sheet prices in many regions of the world were steady week over week in the week ended April 17.

Foreign cold-rolled (CR) coil remains less expensive than domestic product, according to SMU’s latest check of the market.

Here’s a roundup of the latest news in the global aluminum market from our colleagues at CRU. Biden calls for tripling of Chinese steel and aluminum tariffs President Joe Biden is calling on the US Trade Representative (USTR) to consider increasing the existing section 301 import duty on Chinese steel and aluminum three-fold. The current […]

US hot-rolled (HR) coil has become gradually more expensive than offshore hot band in recent weeks, as stateside prices have stabilized while imports moved lower.

Earlier this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to imports and evolving market chatter.

The steel market appears to be finding a new, higher normal with the shocks of the pandemic and the Ukraine in the rearview mirror. The good news: a more profitable and consolidated post-Covid US steel industry has been able to invest in operations. That includes efforts to decarbonize. The bad news: That “new normal” could be tested. Because it’s not just domestic sheet prices that have been volatile. Geopolitics are too.

I’m writing these Final thoughts from the 2024 ISRI Convention and Exposition in Las Vegas. I wasn’t the only one with the good idea to attend. Approximately 6,625 others did – a new record for the event. So, a big congratulations to ISRI.

As the ISRI 2024 conference unfolds in Las Vegas, attendees are diving into crucial discussions shaping the future of the recycling industry. Here are the main topics being discussed: New steelmaking capacity coming online this year Export demand during this period Infrastructure spending Supply of pig iron and HBI Current logistics challenges May scrap prices […]

Last week was a newsy one for the US sheet market. Nucor’s announcement that it would publish a weekly HR spot price was the talk of the town – whether that was in chatter among colleagues, at the Boy Scouts of America Metals Industry dinner, or in SMU’s latest market survey. Some think that it could Nucor's spot HR price could bring stability to notoriously volatile US sheet prices, according to SMU's latest steel market survey. Others think it’s too early to gauge its impact. And still others said they were leery of any attempt by producers to control prices.

Total domestic aluminum mill products orders in March were up 0.2% compared to March 2023, according to the latest “Index of Net New Orders of Aluminum Mill Products” released by the US Aluminum Association (AA). This is much lower than the growth of 9.3% year over year (y/y) reported in February.

U.S. Steel Corp.’s impending sale to Japan’s Nippon Steel Corp. (NSC) has cleared one hurdle: USS stockholders voted overwhelmingly in favor of the nearly $15 billion merger.

While shipping and supply chains have always been subject to wars, pirates, privateers, geopolitical issues, and natural disasters, it seems that “it’s been busier lately when it comes to dealing with significant supply chain disruptions,” according to logistics expert Anton Posner.

To ease trade tensions with the United States, the economy ministry in Mexico is preparing measures to strengthen definitions on steel being shipped into the country. Mexico has faced accusations it is being used as a route for steel and aluminum produced in Asia to be sent on to the US, so-called triangulation.

US hot-rolled (HR) coil has become increasingly more expensive than offshore hot band as stateside prices have moved higher at a sharper pace vs. imports.

Next week, Las Vegas will host the largest recycled materials industry event. ISRI’s annual gathering at the Mandalay Bay Resort and Casino will unite more than 6,000 industry professionals to explore the latest trends in ferrous and nonferrous markets, provide networking opportunities, and support business growth. SMU and RMU eagerly anticipate participating, connecting with fellow attendees, and […]

Nucor made waves in the sheet market when it announced on Friday that it would begin publishing a weekly hot-rolled (HR) coil price. The Charlotte, N.C.-based steelmaker arguably made even bigger waves on Monday when it posted its first weekly HR number: $830 per short ton. That’s $70/st lower than the $900/st HR price Cliffs announced in late March. It’s also lower than prices in the mid-$800s that other mills were (less publicly) seeking.

They say all’s fair in love and war. But that doesn’t seem to be the case in steel. Being deemed “unfair” could get you slapped with shiny new Section 232 tariffs these days. Then again, “unfair” implies a judge. And people on opposing sides seldom agree with the judgment. Such seems to be the current case between the US and Mexico.

Personal Consumption Expenditures (PCE) inflation data was released on Friday, March 29, despite the stock market being closed for Good Friday. The year-over-year (y/y) PCE price index rose 2.5% in February, in line with market expectations but up from the 2.4% growth seen in January. The core PCE index, which excludes food and energy prices, rose 2.8% y/y in February, also in line with expectations and slightly down from 2.9% in January.

Directors of Swedish steelmaker SSAB have decided to replace blast furnace-based steelmaking at Lulea with a ‘green steel’ mini-mill process.