With steel prices at such surprisingly low levels, it’s only a matter of time before the domestic mills announce a price increase. The only point of debate is when. There’s clearly some disagreement over whether the market has found a bottom yet. Slightly more than half of the service center and OEM executives responding to […]
The following calculation is used by Steel Market Update to identify the theoretical spread between foreign hot rolled steel prices (delivered to U.S. ports) and domestic hot rolled coil prices (FOB domestic mills). We want our readers to be aware that this is only a “theoretical” calculation as freight costs, trader margin and other costs […]
The construction segment of the market is booming. This is what we heard from the HARDI steel conference call we participated in last week, and it is what we heard from many companies over the two days SMU was in New York City earlier this week. Whenever we travel, one of the things we always […]
By CRU Prices Analyst Estelle Tran Hundreds of steel executives from around the world gathered in New York City this week to hold meetings and learn about what will drive the steel markets in the second half of the year. The CRU Steel Briefing on Monday, June 17, provided attendees with our views on sheet […]
By CRU Senior Analyst Helen O’Cleary All eyes are on this month’s G20 summit in Osaka for a resolution to ongoing trade tensions between the USA and China, and markets are braced for U.S. tariffs on a further $300 billion of Chinese goods if negotiations do not progress to the USA’s satisfaction. News that Trump […]
More than 700 executives are registered with slightly more than two months to go before the start of the 2019 SMU Steel Summit Conference. We continue to see strong interest in this year’s event, which will be held in Atlanta, Ga., on Aug. 26-28. Once again, the Georgia International Convention Center (www.gicc.com) will be the […]
More than 700 executives are registered with slightly more than two months to go before the start of the 2019 SMU Steel Summit Conference. We continue to see strong interest in this year’s event, which will be held in Atlanta, Ga., on Aug. 26-28. Once again, the Georgia International Convention Center (www.gicc.com) will be the […]
There were many questions raised earlier this week about the announced new steelmaking and rolling capacities and whether those projects would indeed continue through completion. The questions came during various steel meetings held by analysts, steel mills, CRU and others in New York City. I participated in three events and found the question brought up […]
Last night, Steel Market Update participated in the annual Bank of America Merrill Lynch dinner hosted by metals and mining analyst Timna Tanners. We also spoke at the CRU Steel Briefing a little earlier in the day. Here are some of the key takeaways from those meetings. Mill Lead Times Short Flat rolled steel mill […]
By CRU Senior Analyst Erik Hedborg Iron ore prices have continued ascending in the past week as low port inventories in China have forced steelmakers to turn to seaborne cargoes. On Tuesday, June 18, CRU assessed the 62% Fe fines price at $108.00 /t, a $7.60 /t increase w/w. Seaborne supply has been particularly strong […]
I have been in New York City where one of the competitors of Steel Market Update was conducting a steel conference. There were a number of satellite mini-conferences surrounding the NYC event. I attended three of them: the CRU Steel Briefing, which attracted about 100-150 executives; the Bank of America Merrill Lynch dinner drawing a […]
By CRU Principal Analyst Chris Asgill Scrap supply has continued to outpace demand in most of the key scrap supply markets and CRU’s metallics price indicator (CRUmpi) has fallen a further 4.2 percent m/m to 231.2 (see chart). This is the lowest level for the indicator since June 2017. The depth of U.S. scrap price weakness surprised the […]
Please feel free to forward this issue of Steel Market Update to your customers, suppliers or executives within your company. The 2019 SMU Steel Summit Conference will be held at the Georgia International Convention Center. The dates for the conference are: Aug. 26-28, 2019. The convention center and the Gateway Hotels (Marriott Gateway, Renaissance and […]
Happy Father’s Day to all of the fathers reading tonight’s issue. I will be in New York City participating in the CRU Steel Briefing, which will be held at the Sheraton Hotel in Manhattan on Monday afternoon. Later that evening I will be attending the Bank of America Merrill Lynch steel dinner hosted by Timna […]
By CRU Senior Analyst Christine Meilton This month we’re looking at mine profitability and the tonnage at risk from lower metals prices and higher treatment charges, both for operating mines and new projects. Recent weeks have seen both zinc and lead prices tumble, and CRU believes that both metals have now passed a cyclical peak […]
Our website has been updated with the correct complete agenda and speakers, and we have added more detailed information about the SMU NexGen Leadership Award. We have also updated the sponsors and exhibitors logos for the 2019 SMU Steel Summit Conference on our website. We have updated the names of the companies attending (those showing […]
We intentionally pack the third day of our conference with powerhouse programs and speakers. This year will be no different and we highly encourage attendees to remain through the final agenda item on the program. 7:00 AM – Doors Open at the Georgia International Convention Center Coffee, soft drinks and pastries will be available in […]
2019 SMU Steel Summit Conference – Day 3 Written by: John Packard, President & CEO, Steel Market Update RE: 2019 SMU Steel Summit Conference, Aug. 26-28, 2019 – Location: Georgia International Convention Center, Atlanta, GA In Thursday’s issue of this past week, I laid out the first-day agenda and speakers, then on Sunday I did […]
Have you considered nominating that young up-and-comer in your organization for Steel Market Update’s NexGen Leadership Award? Deadline for nominations is Aug. 1. This is the first year for the award, which is designed to recognize truly exceptional emerging leaders, age 35 and under, for their extraordinary achievements. The honor is open to individuals employed in […]
Imported steel prices are no longer competitive with domestic steel mill pricing – even on light gauge galvanized and other specialty products that normally have gone to trading companies. Lead times are short, but as one steel executive put it to me this afternoon, “It’s not that the mills have no business. [For this time […]
Here we discuss the agenda, speakers and what we were thinking as we put together Day 2 of the SMU Steel Summit Conference, which is Tuesday, August 27, 2019. 7:00 AM to 8:00 AM – Doors Open at the Georgia International Convention Center Coffee, drinks and pastries will be available. Exhibition areas will be manned. […]
2019 SMU Steel Summit Conference – A Sneak Peek – Day 2 Written by: John Packard, President & CEO, Steel Market Update RE: 2019 SMU Steel Summit Conference, August 26-28, 2019 – Location: Georgia International Convention Center, Atlanta, GA On Thursday of this past week, I laid out the thought process involved with putting together […]
By CRU Senior Analyst Erik Hedborg Iron ore prices went through a correction in the past week as Chinese steel prices kept falling and seaborne supply remained robust. On Tuesday, June 4, CRU assessed the 62% Fe fines price at $98.50 /t, a $9.50 /t fall w/w. Our sources see the price fall as a […]
The Georgia International Convention Center (www.gicc.com) as well as the three Gateway Hotels (Marriott, Renaissance and SpringHill Suites) are all conveniently located at the first stop of the free SkyTrain out of the Atlanta International Airport (ATL). The second stop on the SkyTrain is for car rentals. Our overflow hotel – the Atlanta Airport Marriott […]
2019 SMU Steel Summit Conference – A Sneak Peek – Day 1 Written by: John Packard, President & CEO, Steel Market Update RE: 2019 SMU Steel Summit Conference, August 26-28, 2019 – Location: Georgia International Convention Center, Atlanta, GA The Georgia International Convention Center (www.gicc.com) as well as the three Gateway Hotels (Marriott, Renaissance and […]
The following calculation is used by Steel Market Update to identify the theoretical spread between foreign hot rolled steel prices (delivered to U.S. ports) and domestic hot rolled coil prices (FOB domestic mills). We want our readers to be aware that this is only a “theoretical” calculation as freight costs, trader margin and other costs […]
By CRU Principal Economist Lisa Morrison April reports related to manufacturing indicate a potential softening in the sector going forward. Since total IP growth for Q1 was revised down to register a decline of 0.5 percent q/q, we have reduced our forecast for 2019 IP growth to 2.0 percent from 2.7 percent previously. The ISM […]
Today, June 6, is D-Day. I know there are many who read this newsletter who are well-removed from those who served in World War II. For us baby boomers, the children of the men and women who served either in the military or supporting the war effort at home, we learned early in life about […]
As one perk of the award, the winner of the SMU NexGen Leadership Award will have a once in a lifetime opportunity to spend the day with one of the most interesting and accomplished CEOs in the steel industry, Mark Millett, Co-Founder, President and CEO of Steel Dynamics Inc. Mark D. Millett is President and […]
As one perk of the award, the winner of the SMU NexGen Leadership Award will have a once in a lifetime opportunity to spend the day with one of the most interesting and accomplished CEOs in the steel industry, Mark Millett, Co-Founder, President and CEO of Steel Dynamics Inc. Mark D. Millett is President and […]