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 […]
Cleveland-Cliffs Inc. is running all eight of its active blast furnaces and has no plans to take significant downtime in the second quarter, the company’s top executive said. “We do not have any major outages scheduled in Q2. We are focused on getting steel out the door,” Chairman, President and CEO Lourenco Goncalves said during […]
Cleveland-Cliffs Inc. is running all eight of its active blast furnaces and has no plans to take significant downtime in the second quarter, the company’s top executive said. “We do not have any major outages scheduled in Q2. We are focused on getting steel out the door,” Chairman, President and CEO Lourenco Goncalves said during […]
Russian steelmaker NLMK said sales in its U.S. division increased 16% in Q1 2021 to 430 million metric tons. The increase was driven by hot-rolled and galvanized steel. Sales of hot rolled increased 17% from the fourth quarter of 2020 and galvanized steel sales soared 37%. Sales of cold rolled fell 13%. On a year-over-year […]
The following article on the hot rolled coil (HRC), scrap and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week: Hot Rolled Hot rolled futures markets have taken a pause from the high velocity upward price moves of last month and the […]
The following article on the hot rolled coil (HRC), scrap and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week: Hot Rolled Hot rolled futures markets have taken a pause from the high velocity upward price moves of last month and the […]
The following article on the hot rolled coil (HRC), scrap and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week: Hot Rolled The limited availability of hot rolled steel on the spot market continues to dictate higher prices, and in turn has […]
The following article on the hot rolled coil (HRC), scrap and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week: Hot Rolled Liquidation has led to some near-term retracement of hot rolled futures prices after a very long runup. The first week […]
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 […]
Steel Dynamics Inc. forecast higher first- and second-quarter results, fueled by strong shipments and record steel prices, according to guidance issued Wednesday. “First-quarter 2021 profitability from the company’s steel operations is expected to be significantly higher than sequential fourth-quarter results, driven by flat roll metal spread expansion, as strong demand continues to support flat roll steel prices,” […]
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 […]
The United States’ two leading steel industry associations have cheered the Senate confirmation of Michael Regan, the new head of the Environmental Protection Agency. The move comes as the U.S. steel industry increasingly looks to burnish its credentials as a green industry – and as the potential of a carbon-border tax boosts the economic viability […]
By CRU Senior Analysts Ryan Smith and Ryan McKinley, from CRU’s Steelmaking Raw Materials Monitor Steel Market Update is pleased to share this Premium content with Executive members. For information on upgrading to a Premium-level subscription, email Info@SteelMarketUpdate.com. The need for virgin iron units in the U.S. market is rising as new electric-arc furnace (EAF) […]
By CRU Senior Analyst Ryan McKinley from CRU’s Steel Metallics Monitor The CRU metallics price indicator (CRUmpi) rose by 14.4% m/m in March to 354.4, bouncing back above levels seen in January. China’s return to the steel market following New Year holiday celebrations there helped lift steel and scrap prices in Asia, while seasonally constrained […]
I am going to spend some time discussing Steel Market Update this evening. I started SMU in August 2008 as a one-man show. The company has grown over the years both in size and scope. The sale of the company to CRU has turned out to be a blessing (I think for both companies), and […]
Ferrous scrap prices have traded flat to down in April following a big jump in March. Steel Market Update sources report the price for obsolete grades down $20/GT, while prime grades traded sideways. The price for shredded scrap is about $430/GT delivered to the mills in the Midwest and South. Prime grades are around $130-140 […]
With negotiations still ongoing this week, it appears ferrous scrap prices will see a big jump in March, as was widely expected. Steel Market Update sources reported that scrap pricing announced in Detroit today was up $70 per ton on prime grades and up $50 per ton on obsoletes. Other regions of the country are […]
With negotiations still ongoing this week, it appears ferrous scrap prices will see a big jump in March, as was widely expected. Steel Market Update sources reported that scrap pricing announced in Detroit today was up $70 per ton on prime grades and up $50 per ton on obsoletes. Other regions of the country are […]
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 […]
Among steelmaking raw materials, the prices of iron ore, pig iron and steel scrap moderated through February following large gains seen in previous months. Prices declined as much as 16% month-over-month for those three products, but remain 34-57% higher compared to three months prior and as much as 87% higher than levels one year ago. […]
Stelco management presented an optimistic outlook for the Canadian mill in 2021. Fourth-quarter revenue rose 79 percent from the third quarter to CAD $424 million on higher steel pricing and increased volume. Shipments rose 46 percent sequentially to 489,000 net tons. Shipments are expected to jump another 35 percent in the first quarter of 2021. Stelco […]
Stelco management presented an optimistic outlook for the Canadian mill in 2021. Fourth-quarter revenue rose 79 percent from the third quarter to CAD $424 million on higher steel pricing and increased volume. Shipments rose 46 percent sequentially to 489,000 net tons. Shipments are expected to jump another 35 percent in the first quarter of 2021. Stelco […]
Voestalpine has temporarily halted production as its hot-briquetted iron plant in southern Texas, the company said. “Our HBI plant in Texas experienced a temporary shutdown and made the decision to continue the shutdown,” a spokeswoman for the Austrian steelmaker said in an email to Steel Market Update on Feb. 18. The company made the decision […]
Good news for NLMK USA customers as the mill has worked out a tentative agreement with the union at their Farrell, Pa., facility, which will end the strike that goes back to late August. Once back in production, this will help (slightly) with some of the supply issues we have been seeing in the market. […]
Rio Tinto, Paul Wurth SA and SHS Stahl Holding Saar are exploring a potential hydrogen-based hot-briquetted iron (HBI) operation in Canada. The Anglo-Australian miner, the equipment manufacturer and the German steelmaker have already inked a memorandum of understanding. They will now conduct a feasibility study about an “industrial-scale” low-carbon iron production plant, according to a […]
Some of you may have noticed that we have adjusted our language when it comes to the SMU Price Momentum Indicator. At this moment, the momentum indicators for hot rolled, cold rolled, galvanized, Galvalume and plate steels are pointing toward higher prices over the near term (next 30 to possibly as far out as 60 […]
Nucor is investing to grow in capability not capacity, said Nucor President and CEO Leon Topalian in remarks Tuesday during the virtual Tampa Steel Conference, co-hosted by Steel Market Update. “It’s not about tons and volume, but about servicing customers’ long-term needs,” he said. One growing customer segment for Nucor is the auto industry. Nucor […]
Nucor is investing to grow in capability not capacity, said Nucor President and CEO Leon Topalian in remarks Tuesday during the virtual Tampa Steel Conference, co-hosted by Steel Market Update. “It’s not about tons and volume, but about servicing customers’ long-term needs,” he said. One growing customer segment for Nucor is the auto industry. Nucor […]