November was a busy month for ports on the Great Lakes and St. Lawrence Seaway as businesses stockpiled year-end inventory prior to the closure of the 2020 shipping season. The Great Lakes Seaway Partnership reports international trade of agriculture and wind turbine components remained steady last month, while steel shipments increased. “As the 2020 Seaway […]
By CRU Analyst Estelle Trans, from CRU’s Global Steel Trade Service U.S. buyers have been watching sheet steel prices skyrocket and found themselves weighing high-priced imports out of necessity. The steel market remains supply short, even with the restart of U.S. Steel Gary No. 4 this month, and market contacts expect that the market will […]
By CRU Principal Analyst Chris Asgill, from CRU’s Global Steel Trade Service Scrap prices have surged over the past month, with import prices up $50-90 /t m/m. Turkish prices have gained the most significant ground, though were below Asian prices a month ago. At the time of our assessment last week Turkish prices were approaching $400 /t […]
Flat Rolled = 40.0 Shipping Days of Supply Plate = 45.7 Shipping Days of Supply Flat Rolled Service center flat rolled steel inventories continue to reach new lows. At the end of November, service centers carried 40 shipping days of supply, down from 43.1 days in October. November had 19 shipping days, compared to October’s […]
Not only are wholesalers who service the HVAC and construction industries wondering how high galvanized steel prices can possibly go, they’re even more worried about how low prices could go once the market normalizes next year. In a conference call this morning, members of the Heating, Air Conditioning & Refrigeration Distributors International (HARDI) reported firm […]
How much higher can steel prices go? It’s impossible to know, but given the current lead times, level of demand and the support higher prices are getting from distribution, and it appears prices may have some more upside. Steel Market Update estimated the average HRC price this past week at $865 per ton, with reports […]
Iron ore surged in early-December as Vale’s lowered guidance fueled concerns about iron ore availability going into 2021. Short-term market tightness also contributed to the rise as Chinese demand remained strong, while seaborne supply has continued to struggle. On Tuesday, Dec. 8, CRU assessed the 62% Fe fines price at $147.0 /dmt, an increase of $15.5 /dmt […]
By CRU Senior Analyst Erik Hedborg from CRU’s Steelmaking Raw Materials Monitor The iron ore price rally has continued in the past week as the market tightness worsened, with continued strong demand while seaborne supply has taken a major hit following the halting of operations at Australia’s two largest iron ore ports due to bad weather. […]
Editor’s note: SMU Contributor David Feldstein is president of Rock Trading Advisors. David has over 20 years of trading experience in financial markets and has been active in the ferrous futures space for over eight years. You can learn more at www.thefeldstein.com or add him on twitter @TheFeldstein and on Instragram at #thefeldstein. During the […]
Editor’s note: SMU Contributor David Feldstein is president of Rock Trading Advisors. David has over 20 years of trading experience in financial markets and has been active in the ferrous futures space for over eight years. You can learn more at www.thefeldstein.com or add him on twitter @TheFeldstein and on Instragram at #thefeldstein. It now […]
Editor’s note: SMU Contributor David Feldstein is president of Rock Trading Advisors. David has over 20 years of trading experience in financial markets and has been active in the ferrous futures space for over eight years. You can learn more at www.thefeldstein.com or add him on twitter @TheFeldstein and on Instragram at #thefeldstein. For some […]
Editor’s note: SMU Contributor David Feldstein is president of Rock Trading Advisors. David has over 20 years of trading experience in financial markets and has been active in the ferrous futures space for over eight years. You can learn more at www.thefeldstein.com or add him on twitter @TheFeldstein and on Instragram at #thefeldstein. Today’s CME […]
Editor’s note: SMU Contributor David Feldstein is president of Rock Trading Advisors. David has over 20 years of trading experience in financial markets and has been active in the ferrous futures space for over eight years. You can learn more at www.thefeldstein.com or add him on twitter @TheFeldstein and on Instragram at #thefeldstein. February’s service […]
Editor’s note: SMU Contributor David Feldstein is president of Rock Trading Advisors. David has over 20 years of trading experience in financial markets and has been active in the ferrous futures space for over eight years. You can learn more at www.thefeldstein.com or add him on twitter @TheFeldstein and on Instragram at #thefeldstein. If you […]
Editor’s note: SMU Contributor David Feldstein is president of Rock Trading Advisors. David has over 20 years of trading experience in financial markets and has been active in the ferrous futures space for over eight years. You can learn more at www.thefeldstein.com or add him on twitter @TheFeldstein and on Instragram at #thefeldstein. So far […]
Editor’s note: SMU Contributor David Feldstein is president of Rock Trading Advisors. David has over 20 years of trading experience in financial markets and has been active in the ferrous futures space for over eight years. You can learn more at www.thefeldstein.com or add him on twitter @TheFeldstein and on Instragram at #thefeldstein. Check out […]
Among steelmaking raw materials, the prices of pig iron, scrap, zinc and aluminum have seen big gains in the past three months. Pig iron and scrap prices have seen significant increases compared to the late summer months. Iron ore and coking coal prices had widened through mid-September but have since declined, with coking coal prices […]
Growing up I was a bit of a history nerd and my original intention was to be a political science major when I entered Hamline University where I went to college. Over time I morphed into a bit of a political nerd, so elections are exciting times for me. They may not be for many […]
By CRU Principal Analyst James Campbell, from CRU’s Long Products Monitor Most long product prices around the world increased this month as the recovery in demand continues. For some markets and products, the increase in supply has been outpaced by demand. Wire rod remains the strongest product right now as the increase in construction activity […]
BY CRU Research Analyst Eduardo Tinti, from CRU’s Steelmaking Raw Materials Monitor Iron ore prices edged up for the second consecutive week as Chinese domestic steel prices rallied and the seaborne iron ore supply weakened. On Tuesday, Nov. 10, CRU assessed the 62% Fe fines price at $122.0 /dmt, $4.5 /dmt higher w/w. Chinese domestic […]
By CRU Principal Analyst Josh Spoores, from CRU’s Steel Sheet Products Monitor The global sheet market has seen a few key trends emerge across a variety of regions. First, demand has continued to rise from the pandemic-related lows recorded earlier this year. While sheet demand continues to be driven by sequential increases in automotive demand, […]
By CRU Senior Analyst Erik Hedborg, from CRU’s Steelmaking Raw Materials Monitor The bullish sentiment in the Chinese steel industry has resulted in continuous strong demand for iron ore. Meanwhile, iron ore supply from Australia has been weak throughout November and inventories in China have remained at a low level as a result. On Tuesday, […]
By CRU Senior Analyst Erik Hedborg, from CRU’s Steelmaking Raw Materials Monitor Iron ore prices have continued to surge in the past week as robust Chinese demand has coincided with lower Australian exports. As a result, prices have climbed above $130 /dmt and on Tuesday, Dec. 1, CRU assessed the 62% Fe fines price at […]
U.S. Steel narrowed its loss to $234 million in the third quarter from a net loss of $589 million in the second quarter. Net sales increased to $2.34 billion from $2.09 billion. “Our third-quarter results exceeded our guidance and demonstrated the power of the actions we have taken since the onset of COVID-19 with dramatically […]
Ferrous scrap prices are expected to see a strong finish to 2020, say the experts, rising by an estimated $35-55/GT, lending support to finished steel prices that also continue to rise. Except for some slight weakness in October, ferrous scrap prices have moved upward for the past three months, and that trend is expected to […]
Ferrous scrap prices are expected to see a strong finish to 2020, say the experts, rising by an estimated $35-55/GT, lending support to finished steel prices that also continue to rise. Except for some slight weakness in October, ferrous scrap prices have moved upward for the past three months, and that trend is expected to […]
While trading was still ongoing as of Friday, it appeared ferrous scrap prices for February would settle sideways for prime grades, but down for obsoletes, as shred supplies have increased and export demand has decreased. Steel Market Update sources reported the February busheling price unchanged at around $495/GT and the shred price down by $50-60 […]
By CRU Prices Analyst George Pearson, from CRU’s Steel Sheet Products Monitor HR coil was the standout product across all regions this week. HR coil deal prices and buyer bids increased in Vietnam, strong demand data supported prices in China, and tight availability continued to bolster U.S. prices and sure up the market in Europe. […]
SMU contributor Tim Stevenson is a partner at Metal Edge Partners, a firm engaged in Risk Management and Strategic Advisory. In this role, he and his firm design and execute risk management strategies for clients along with providing process and analytical support. In Tim’s previous role, he was a Director at Cargill Risk Management, and […]
SMU contributor Tim Stevenson is a partner at Metal Edge Partners, a firm engaged in Risk Management and Strategic Advisory. In this role, he and his firm design and execute risk management strategies for clients along with providing process and analytical support. In Tim’s previous role, he was a Director at Cargill Risk Management, and […]