ArcelorMittal’s joint venture AMNS Calvert ran at near capacity in the first quarter of 2021, delivering record first-quarter results. Hot strip mill production jumped 19.3% to 1.3 million metric tons from the fourth quarter. EBITDA nearly tripled to $159 million from $56 million in the prior quarter. The mill is currently supplied with slab sourced […]
In a surprise announcement, U.S. Steel said it is canceling the endless casting and cogeneration project at Mon Valley Works. The company has already spent $170 million on the $1.3 billion project. “This is not the end of Mon Valley,” President and CEO David Burritt emphasized during the first quarter earnings call on Friday. The […]
By CRU Analyst George Pearson from CRU’s Steel Monitor Chinese prices have rebounded this week after three consecutive weeks of decline. However, trading in markets outside of China was lower last week as buyers waited for further developments in Chinese prices and this fed through to lower w/w gains in Europe and the U.S. U.S. […]
Ternium has strong confidence in the growth potential for the Mexican steel industry. Despite a poor performance by the government in helping the economy recover from the impact of the pandemic, CEO Maximo Vedoya expects the industrial base will continue to grow. One of the drivers will be reshoring of the supply base, which will […]
With trading for May not quite finished this week, ferrous scrap prices appeared surprisingly strong, with obsolete grades up about $20/GT and prime grades moving sideways. Steel Market Update sources put the May price for shred in the range of $450-460 per gross ton, busheling at $590-600 per gross ton, and P/S at $440-445 per […]
SSAB Americas reported lower shipments of 480,000 metric tons in the first quarter of 2021 despite strong demand for heavy plate in North America. Due to weather issues in February and lower slab inventories at the beginning of the quarter, shipments fell 16% from the previous quarter and 9% compared to Q1 2020. Higher steel […]
Among steelmaking raw materials, the prices of iron ore, pig iron, zinc and aluminum rose through mid-April, on top of large gains seen in previous months. Prices increased as much as 10% month-over-month for those four products. Iron ore prices have reached record levels, while coking coal prices remain down. Pig iron and scrap prices […]
Cleveland-Cliffs expects historically high steel prices and record profits to continue for the balance of the year. The integrated steelmaker forecasts that U.S. hot-rolled coil prices will average $1,100 per ton for the remaining three quarters the year, according to guidance released with first quarter earnings data on Thursday, April 22. That’s 21.5% below SMU’s […]
Cleveland-Cliffs expects historically high steel prices and record profits to continue for the balance of the year. The integrated steelmaker forecasts that U.S. hot-rolled coil prices will average $1,100 per ton for the remaining three quarters the year, according to guidance released with first quarter earnings data on Thursday, April 22. That’s 21.5% below SMU’s […]
Given the heightened urgency to reduce carbon emissions and address climate change, nearly all the world’s automakers plan to replace at least some of the internal combustion cars and trucks in their lineups with fully electric vehicles (EVs). GM, notably, has pledged to introduce 30 new EVs by 2025 and to produce nothing but EVs […]
Given the heightened urgency to reduce carbon emissions and address climate change, nearly all the world’s automakers plan to replace at least some of the internal combustion cars and trucks in their lineups with fully electric vehicles (EVs). GM, notably, has pledged to introduce 30 new EVs by 2025 and to produce nothing but EVs […]
Swedish steelmaker SSAB and automaker Volvo have teamed up to make what they hope will be the first vehicles made from fossil-free steel. Volvo plans to begin production of concept vehicles this year using fossil-free steel produced by SSAB, which is pioneering a hydrogen-based steelmaking process. Small-scale serial production will begin in 2022, and mass […]
U.S. Steel’s Edgar Thomson Plant in Braddock, Pa., has been hit by an unplanned outage stemming from a burst water main, according to sources familiar with the matter. Crews have been working to repair the issue at the Pittsburgh-area steel mill since approximately 2:30 a.m. ET on Tuesday, April 6, they said. U.S. Steel, which is […]
U.S. Steel’s Edgar Thomson Plant in Braddock, Pa., has been hit by an unplanned outage stemming from a burst water main, according to sources familiar with the matter. Crews have been working to repair the issue at the Pittsburgh-area steel mill since approximately 2:30 a.m. ET on Tuesday, April 6, they said. U.S. Steel, which is […]
Iron Ore Company of Canada (IOC) has declared force majeure on its contracts after a fire at its port facilities in Sept-Îles, Quebec. The blaze broke out on the No. 2 reclaimer on March 31, and the cause of the fire “remains unknown at this time,” the Canadian iron ore miner and pellet producer said. […]
By CRU Principal Analyst Erik Hedborg and Analyst Nikki Ni, from CRU’s Steel Sheet Products Monitor The city of Tangshan, two hours east of Beijing, plays an extremely important role in the global steel market. It is the largest steelmaking hub in the world and accounts for 14% of China’s crude steel production, equal to […]
Among steelmaking raw materials, the prices of pig iron, shredded scrap, busheling scrap and aluminum rose again in March on top of large gains in previous months. Prices increased as much as 14% month-over-month for those four products. Iron ore prices are slightly down compared to levels one month prior, while coking coal prices have […]
By CRU Prices Analyst Estelle Tran, from CRU’s Global Steel Trade Service The strength and longevity of the current uptrend in steel prices has surprised many market participants, and mill maintenance outages are expected to keep lead times extended. The latest lead time survey on March 15-17 from Steel Market Update, which is part of […]
U.S. electric-arc furnace mills have a leg up on the world when it comes to meeting new carbon emissions standards–for now, said CRU Senior Analyst Ryan Smith. That’s according to a “carbon curve” Smith presented that is part of CRU Group’s Emissions Analysis Tool. The carbon curve is similar to the cost curve many steel […]
U.S. electric-arc furnace mills have a leg up on the world when it comes to meeting new carbon emissions standards–for now, said CRU Senior Analyst Ryan Smith. That’s according to a “carbon curve” Smith presented that is part of CRU Group’s Emissions Analysis Tool. The carbon curve is similar to the cost curve many steel […]
By CRU Senior Analyst Erik Hedborg, from CRU’s Steelmaking Raw Materials Monitor Iron ore prices have been steady in the past week as stricter pollution controls in China have been lifted and seaborne supply has been strong. On Tuesday, March 16, CRU has assessed the 62% Fe fines price at $166.0 /dmt, up $1.0 /dmt […]
By CRU Principal Analyst Matt Watkins from CRU’s Global Steel Trade Service International prices have rebounded in March from a dip that happened in February (see chart 1). Larger m/m gains have occurred in flats than in longs, which have been more impacted by a pullback in scrap costs, but almost all prices are up […]
By CRU Analyst George Pearson, from CRU’s Steel Sheet Products Monitor Details of China’s Tangshan emission control policy that circulated in the last week have provided a further boost to Chinese steel prices but have weighed on prices for iron ore. The high cost of freight is still reducing the competitiveness of sheet imports in […]
By CRU Senior Analyst Erik Hedborg, from CRU’s Steelmaking Raw Materials Monitor Iron ore prices have risen by $10 /dmt in the past week as Tangshan cuts have raised steel margins and steelmakers in other regions are seeing an uplift in production. On Tuesday, March 30, the 62% Fe fines price was assessed at $168 […]
By CRU Analyst Atul Kulkarni, from CRU’s Steel Sheet Products Monitor The U.S. manufacturing PMI rose to a 38-year high during March as the Biden government’s $1.9 trillion stimulus package improved sentiment. U.S. vehicle production and durable goods new orders stayed strong during February. Although U.S. crude steel capacity utilization increased during March, sheet supply […]
By CRU Principal Analyst Erik Hedborg, from CRU’s Steelmaking Raw Materials Monitor Iron ore prices jumped by $7.0 /dmt in the past week as steel margins continued to rise and concerns about Brazilian supply sparked new fears regarding iron ore availability. On Tuesday, April 20, CRU has assessed the 62% Fe fines price at $182.0 […]
By CRU Analysts Kevin Bai and Zhenzhen Jiang, from CRU’s Steel Sheet Products Monitor Policy aimed at reducing pollution in Tangshan, Hebei province, has started to restrict hot metal supply and lift steel prices in China. This Insight summarizes the policy, assesses the immediate impact of the measures and explores potential implications on China’s crude […]
By CRU Principal Analyst Erik Hedborg, from CRU’s Steelmaking Raw Materials Monitor Iron ore prices have jumped by over $30 /dmt in the past week as Chinese markets reopened with exceptionally bullish sentiment among futures traders. Both iron ore and steel prices witnessed unprecedented price increases in the past week and on May 11, CRU […]
By CRU Analyst George Pearson, from CRU’s Steel Monitor Chinese prices continued to buck the global trend this week as further government meetings about preventing higher steel prices being passed on to consumers were taken seriously by the market and trading activity reduced. Prices in Europe and the U.S. are still rising, with U.S. plate […]
By CRU Principal Analyst Erik Hedborg, from CRU’s Steelmaking Raw Materials Monitor Iron ore prices have risen in the past week and are currently trading at close to $220 /dmt. We see little change on the demand side and sources have mentioned that supply uncertainty is the main driver of the recent rally. On Tuesday, June […]