Steelmaking currently accounts for approximately 8% of global greenhouse gas emissions. The only way to achieve net zero goals is to significantly reduce steel emissions worldwide. And there is no way to do that without recycling.
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.
Steel is a foundation of the global economy. It is an essential raw material for nearly every industry, from automotive and construction to transportation, machinery, and energy.
Prices of steelmaking raw materials have moved in different directions over the last 30 days, according to Steel Market Update’s latest analysis.
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.
AHMSA’s new investors, Argentem Creek Partners, have plans for a potential staggered restart of operations at the Mexican steelmaker.
Cleveland-Cliffs’ Lourenco Goncalves said the company is still interested in acquiring U.S. Steel, though no bid is currently on the table, according to a local report.
Electra has commissioned a clean ironmaking pilot plant in Boulder, Colo.
Rio de Janeiro-based metals and mining conglomerate Vale could potentially build a new plant for the production of iron ore briquettes in the US.
With the help of a large government grant, SSAB may soon expand its operations in the US – including constructing a fossil-fuel-free green ironmaking facility in Mississippi.
The Department of Energy (DOE) announced on Monday six projects that will receive up to $1.5 billion in funding to further decarbonize the iron and steel industry.
With Earth Day almost a month away, the world’s attention often turns to the manufacturing sector with calls for greener production processes.
2024 started with a $200 per short ton (st), one-week demon drop in the CME Midwest hot-rolled (HR) coil futures. Then, HR futures consolidated in the low $800s/st with the April future trading to as low as $770/st as the curve shifted into contango or upward sloping. A big move was expected, and a big […]
As uncertainty swirls around Nippon Steel Corp.’s (NSC) proposed buy of U.S. Steel, the Japanese steelmaker continues to make assurances that it has the best interests in mind for running the iconic Pittsburgh-based steelmaker.
U.S. Steel expects higher earnings in the first quarter of this year vs. the previous quarter.
Prices of most steelmaking raw materials have moved lower over the last 30 days, according to Steel Market Update’s latest analysis.
Estelle Tran, prices lead at CRU, Michael Cowden, managing editor at SMU and Josh Spoores, principal analyst at CRU, will be the featured speakers on a special CRU webinar. It will take place on Thursday, March 21, at 10 a.m. ET. You can learn more and register here.
The strong resilience of iron ore prices has come to an end with the weak steel performance worldwide and significantly improved iron ore availability in China.
The March scrap trade is set to pick up steam next week.
Domestic prices have been sliding since the beginning of the year, and I don’t see any obvious reasons why the slide might stop this week. But let’s put the timing of a bottom aside for a minute. The question among some of you seems to be whether we’ll see another price spike, or at least a “dead-cat bounce,” before the typical summer doldrums kick in.
In the period between mid-February and mid-March, CRU forecasts global demand for steelmaking raw materials to change little from the previous month,but buying activity will improve towards the end of next month
I’ve had discussions with some of you lately about where and when sheet prices might bottom. Some of you say that hot-rolled (HR) coil prices won’t fall below $800 per short ton (st). Others tell me that bigger buyers aren’t interested unless they can get something that starts with a six. Obviously a lot depends on whether we're talking 50 tons or 50,000 tons. I've even gotten some guff about how the drop in US prices is happening only because we’re talking about it happening.
Over my years of observing the steel market, there's been a recurring belief that current market disruptions in either the physical spot market or steel futures are temporary anomalies, destined to fade, and that normalcy will soon return. However, the events of the first few weeks of 2024 served as a stark reminder that this expectation seldom materializes, and that the US steel market is still the most volatile steel market in the world.
The iron ore market has been largely calm, with China observing the Chinese New Year (CNY) holiday period, while demand in Europe and JKT has been slow to pick up. Supply has been somewhat weaker, but overall, the price has held steady. Supply from Port Hedland remained unchanged w/w despite Roy Hill having no shipments […]
Timna Tanners, managing director of equity research at Wolfe Research, will be the featured speaker on our next SMU Community Chat. The chat will be on Wednesday, Feb. 7, at 11 a.m. ET. You can join the ~600 people who have already registered here.
Timna Tanners, managing director of equity research at Wolfe Research, will be the featured speaker on our next SMU Community Chat on Feb. 7.
SMU’s Jan. 24 Community Chat, featuring CRU's Principal Analyst Erik Hedborg, provided viewers with an update on the current state of the global iron ore market.
Canadian flat-rolled steelmaker Algoma Steel said its blast furnace could be down for approximately two weeks following an incident at its coke batteries over the weekend. “We expect some impact on shipments, the extent of which will depend on the timeline to resume blast furnace operations,” the Sault Ste. Marie, Ontario-based company said
CRU principal analyst Erik Hedborg, who has deep experience in iron ore and in pellets, will be the featured speaker on our next SMU Community Chat.
This latest SMU steel market survey is a snapshot of a sheet market inflecting lower. A significant 43% of survey respondents said that the hot-rolled (HR) coil market has already peaked. Compare that to only 8% when we released our last steel market survey on Jan. 5.