This report examines the import share of sheet, plate, long and tubular products and 16 subcategories. Since January 2020, imports’ share of the total sheet products has been 14.5 percent, down from 21.4 percent in 2015. The import share of HRC has been below 10 percent since January 2019. The most striking finding in this […]
Gauging how COVID-19 will impact global commerce, specifically the world’s steel industry, is almost as difficult to predict as the spread of the virus itself. CRU analysts will tackle the subject in a new webinar this week. As CRU Senior Analyst Erik Hedborg reports, the news is not all bad. For one, the pace of […]
Key Market Indicators show that the improvement in market trends in December and January translated to a jump in the present situation in February. This report is designed to be a big picture summary of data on which we have reported in detail during the month. In it we summarize 36 data streams that describe […]
By Senior Coal Analyst Ben Carstein, from CRU’s Metallurgical Coal Market Outlook Despite weakening fundamentals in the Chinese steel market, the seaborne metallurgical coal market, and hence prices, remain supported. Chinese HRC and rebar prices are up about RMB90 /t over the week. However, we believe this largely reflects trader purchases that have not been […]
In three months through December, demand for total rolled products declined by 6.1 percent. This Premium analysis by Steel Market Update is based on steel mill shipment data from the American Iron and Steel Institute (AISI) and import-export data from the U.S. Department of Commerce (DOC). It is meant as a more in-depth look compared […]
This report examines the import share of sheet, plate, long and tubular products and 16 subcategories. Since January 2019, the import market share of total sheet products has been below 15 percent with an 11-month average of 14.0 percent. The import share of HRC has been below 10 percent since January 2019. The most striking […]
Written by Senior Analyst Ryan McKinley. More in-depth regional analysis found in CRU’s Metallics Monitor. The CRU metallics price indicator (CRUmpi) fell by 8.9 percent m/m to 203.7 (see chart) following price falls in nearly every market. Supply outpaced demand due to mild winter conditions in much of the northern hemisphere. Key exceptions were Russian scrap and ore-based […]
By CRU Prices Analyst Estelle Tran, from CRU’s Bulk Ferro Alloys Monitor The steel market got a stronger than expected start to the year, lifting year-to-date U.S. steel mill capability utilization to 82.1 percent—the highest level since May 2019, according to the American Iron and Steel Institute. The Institute for Supply Management reported that the […]
I spent the second half of last week in Tampa where I was the master of ceremonies for the 31st Tampa Steel Conference hosted by the Port of Tampa. John Anton, IHS Markit Director of Steel Analytics / Pricing and Purchasing Service, provided the key economic and steel forecast for the group. He told the […]
Ferrous scrap prices for February are down around $20-30/GT for obsolete grades and $10-20/GT for prime grades, report Steel Market Update sources, adding to the downward pressure already being felt on finished steel prices. “This price trend is in line with the 10-year average price movement for February,” said CRU Senior Analyst Ryan McKinley. “Buying […]
By CRU’s China Steel Team, with Senior Analysts Richard Lu and Erik Hedborg. On Monday, Feb. 3, financial markets and commodity trade resumed after the extended Chinese New Year (CNY) holiday caused by the outbreak of the novel coronavirus (2019-nCoV). Equity markets fell sharply as fears of economic slowdown prompted investors to push the sell button. […]
Key Market Indicators show that the improvement in market trends that occurred in December continued into January. This report is designed to be a big picture summary of data SMU has reported in detail during the month. It summarizes 36 data streams that describe the state of the steel market and provide forward guidance for […]
Demand is looking good for the steel industry this year, especially in the construction sector, said panel members on the Steel Manufacturers Association media call today. Dave Sumoski, Nucor Executive Vice President – Merchant and Rebar Products, noted that construction is a major area for Nucor. The market for steel bar is very strong with […]
The following article discussing the global ferrous derivatives markets was written by David Feldstein. As an independent steel market analyst, advisor and trader, we believe he provides insightful commentary and trading ideas to our readers. Note that Steel Market Update does not take any positions on HRC or scrap trading, and any recommendations or comments […]
Steel Dynamics reported record steel shipments of 10.8 million tons and net sales of $10.5 billion in 2019 for the company’s second-best sales performance. Steel fabrication also set a yearly record with shipments of 644,000 tons, and almost doubled its operating income from 2018. Sales declined 11 percent to $11.5 billion from the record high […]
By CRU Analyst Chris Bandmann, from CRU’s Steel Long Products Monitor Europe: Germany has not seen any significant snowfall yet this winter, and these mild conditions had the potential to support the continuation of construction activities. Construction companies entered their holidays regardless, however, and steel demand has settled into a seasonal low point. Even so, […]
December’s licensed import volume for rolled steel products was the lowest since December 2009. Year over year, total rolled product imports in December were down by 27.8 percent on a three-month moving average (3MMA) basis. This follows the 27.4 percent decrease in November, 17.7 percent decrease in October and 15.5 percent decline in September on […]
Ferrous scrap prices are up another $20-30/GT in January, on top of similar increases the prior two months, lending support to the finished steel price increases announced this week. Sources put January scrap prices around the following: Shred, $315-330; HMS, $270-275; Bush, $320; and Plate, $285- $310 per ton. Scrap prices typically rise in January […]
Commercial Metals Company is looking forward to a steady construction market in 2020 for its merchant bar and rebar products. “We are positioned to continue benefiting from the positive trends in our core markets and remain optimistic about the construction market, as many of the macro indicators we monitor point to resilience ahead,” said President […]
By CRU Analysts, from CRU’s Bulk Ferroalloys Monitor U.S. finished steel prices have risen following price increase announcements that found support from service center restocking. Adding to this price support was the scrap market, where scarcer supply and increased mill demand put prices on an upward trajectory. Some steel products have enjoyed quicker price gains […]
By CRU Prices Analyst George Pearson, from the CRU Steel Sheet Products Monitor Sheet prices in the U.S. were mixed this week. HR coil at $555 was steady w/w, falling by $2 /s.ton, while CR and HDG coil products gained $26-30 /s.ton w/w after steadying last week. For HR coil, overall volume has picked back […]
Nucor announced the acquisition of another downstream company, TrueCore, a manufacturer of insulated metal panels for the cold storage market. “This acquisition fits well with our strategy to profitably grow our value-added product portfolio and provides great synergies with Nucor Buildings Group. As the market leader in metal buildings, we currently utilize a high volume […]
By CRU North America Senior Analyst Ryan McKinley, from CRU’s Steel Metallics Monitor The CRU metallics price indicator (CRUmpi) rose by 7.9 percent m/m to 211.1 (see chart) following price increases in nearly every market. Pervasive market tightness caused by adverse weather and higher domestic demand in major exporting markets forced buyers in import-reliant markets to accept higher […]
This Steel Market Update report examines the import share of sheet, plate, long and tubular products and 16 subcategories. Since January, there has only been one month when the import market share of total sheet products exceeded 15 percent. The import share of HRC has been below 10 percent since January. The most striking result […]
By CRU Principal Analyst James Campbell, from CRU’s Long Products Monitor Steel longs prices have changed direction this month with rises now observed in many markets. Although underlying demand has improved in some regions it is still weak elsewhere. Buyers in many regions have restocked in the last month while producers exposed to scrap and […]
November’s licensed import volume of total rolled steel products was the lowest since February 2010. Year over year, total rolled product imports in November were down by 27.4 percent on a three-month moving average (3MMA) basis. This follows the 17.7 percent decrease in October and 15.5 percent decline in September on the same basis. This […]
By CRU Senior Analyst Dmitry Popov, from CRU’s Iron Ore Market Outlook After two weeks of increases, iron ore prices moved marginally lower this week by $1 /t w/w as CRU has assessed the 62% Fe fines price at $89 /t, CFR China. The end of the upward momentum in iron ore prices was primarily […]
This report is designed to be a big picture summary of data SMU has reported in detail during the month. It summarizes 36 data streams that describe the state of the steel market and provide forward guidance for steel buyers and sellers. See the end of this piece for an explanation of the Key Indicators […]
In what will be seen as supportive of higher domestic steel prices, ferrous scrap prices are expected to jump by $30 per ton or more in December on tight supplies and improving demand in the U.S., following on a similar increase in November. “Going into December and year end , the U.S. scrap market has […]
SMU contributor Gaurav Chhibbar 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 Gaurav’s previous role, he was a trader at Cargill spending time in […]