Posted: November 3rd, 2010 | Author: Rod Sherkin | Filed under: Metals, Steel | No Comments »
Some steelmaking facilities in the US are closed due to poor market conditions. Capacity utilisation in the remainder has fallen to around 67 per cent.
End-user demand has not improved as the economic recovery has stalled. However, customers have allowed their inventories to sink to very low levels and so need to order some material. Despite mill announcements of increases, flat product transaction values have started to decline once more, following September’s brief upturn. The fourth quarter is historically weak and producers are aware that prices could contract even more. Foreign offers are lacking.
Canadian consumption remains quite depressed. Buyers, anticipating a downward price trend to the year end, are holding off from purchasing. The steelmakers, facing a cost squeeze, may need to reduce output in order to establish a better supply/demand balance. Customers’ inventories are adequate for current usage and they intend to keep them to a minimum, in the face of potential stock devaluation from tumbling market prices. Offshore selling values did fall over the past couple of months but offers are starting to rise again.
via STEEL INDUSTRY NEWS FROM MEPS INTERNATIONAL LTD, Steel Price News and Steel News Alerts, World Steel Price News, Steel Prices, Steel News, Steel Price, Steel Industry News.
Posted: October 23rd, 2013 | Author: Rod Sherkin | Filed under: Steel, USA | Tags: steel, steel coil, steel price, steel price USA | No Comments »
Platts upped its hot-rolled coil assessment Tuesday from $645-655/st to $655-665/st and concurrently moved cold-rolled from $750-760/st to $760-770/st. All prices are normalized to a Midwest (Indiana) ex-works basis.
Mill discipline appears to be pushing flat-rolled steel pricing up in the US, though at least some market sources said Tuesday they fear that a late-year run-up could invite a glut of imports in the first quarter.
Read the rest of US steel sheet prices rising, questions looming about first quarter » » »
Posted: July 5th, 2013 | Author: Rod Sherkin | Filed under: Steel | Tags: steel, steel price, steel supply, steel usa | No Comments »
Steel prices in the U.S. are rising and not necessarily because the market is improving. This week, the price of benchmark hot-rolled steel coil, used to make cars, was reported up at $630 per ton, a rise of more than 10% from a 2013 low of $570 on May 28.
That reverses a six-month slide in U.S. steel prices caused by too much steel on the market, both in the U.S. and globally.
A trio of unforeseen events have unexpectedly helped boost prices 10% in recent weeks to their highest levels since early January. A blast furnace outage in Ohio, along with one in Brazil, and a work lockout in Ontario have taken an estimated five million tons of annual capacity, or about 4% of total U.S. supply, off the market in the last three months.
Read the rest of Steel prices may fall after recent bump up » » »
Posted: April 29th, 2013 | Author: Rod Sherkin | Filed under: Steel | Tags: steel, steel glut, steel price, steel supply | No Comments »
Steel prices have slumped this month, setting off a scramble among steelmakers to maintain prices and market share despite a nationwide glut.
In a bid to maintain market share in the lukewarm economy, steel mills have been increasingly offering 5% to 8% discounts on index-linked contracts since the financial crisis. “Everybody’s been undercutting in the market because there’s way too much steel,” says Charles Bradford, an analyst with Bradford Research Inc. They’re also offering price rebates and waiving some extra fees on higher-grade products, according to buyers and traders.
Read the rest of Steelmakers Pinched by Price Plunge » » »
Posted: October 17th, 2012 | Author: Rod Sherkin | Filed under: Electricity, Steel | Tags: electrical steel coil, grain-oriented electrical steel coil, steel coil | No Comments »
According to MetalMiner IndX℠ data, grain-oriented electrical steel coil prices and electrical steel coil surcharges per metric ton have both been consistently declining over the past half-year, and the GOES coil price per ton as of September 2012 is the lowest it’s been since June 2006.
David Hartquist, an international trade lawyer and a partner at Kelley Drye & Warren LLP who represents SSINA, cited a large percentage increase for grain-oriented electrical steel so far this year.
Read the rest of Grain-Oriented Electrical Steel Prices Dropping as Imports Spike » » »
Posted: July 6th, 2012 | Author: Rod Sherkin | Filed under: Metals, Steel | Tags: steel | No Comments »
US hot rolled coil transaction figures slipped further in June, as was expected. There is still domestic overcapacity, despite the demise of RG Steel. Delivery lead times have shrunk and local mills are facing severe competition from attractively priced Russian coil now standing at the docks. Buyers are expecting a further decrease for the summer.
Hot rolled plate transaction figures declined again in June for a number of reasons.
Read the rest of U.S. Flat Product Prices Fall » » »
Posted: May 15th, 2012 | Author: Rod Sherkin | Filed under: Iron ore, Steel | Tags: iron ore, steel | No Comments »
Shanghai rebar fell to its lowest level in more than five months on Tuesday, stretching its losses into a third straight session, amid thin Chinese demand that could prompt producers in the world’s biggest steel market to curb output.
The most briskly traded rebar contract for October delivery on the Shanghai Futures Exchange touched a session low of 4,055 yuan ($640) a tonne, last seen on Nov. 30, before closing at 4,090 yuan, down 1.1 percent.
Read the rest of Chinese Rebar hits 5-1/2 month low as Iron Ore sags » » »
Posted: January 10th, 2012 | Author: Rod Sherkin | Filed under: Steel | Tags: steel | No Comments »
Steel prices in the U.S. are running away from their European counterparts, creating a gap that could last until spring as the debt crisis hobbles the euro-zone economy, analysts say.
The market has weakened considerably in Europe, but has recovered in the world’s largest economy, thanks to an upturn in industry reflected by better-than-expected economic data.
Read the rest of Steel Prices Reach a Fork in the Road » » »
Posted: January 3rd, 2012 | Author: Rod Sherkin | Filed under: Steel, Uncategorized | Tags: steel | No Comments »
The price of steel has diverged sharply in the US and Europe, underscoring the differing economic fortunes of the two regions.
The $500bn-a-year steel market is one of the best barometers of the health of the manufacturing and construction sectors, and the rare split in transatlantic prices offers an insight into business sentiment in the US and Europe as companies prepare to report their annual results.
The price of benchmark hot-rolled coil steel in the US Midwest rose to $756 a tonne in December, 12.5 per cent higher than in November, according to CRU, a leading consultancy.
Read the rest of US and Europe steel prices diverge sharply » » »
Posted: July 27th, 2011 | Author: Rod Sherkin | Filed under: Steel | Tags: steel | No Comments »
Prices have fallen from near $900/ton for hot rolled coils to levels now under $700 according to the most recent view by Platts.
Steel price momentum is one of the models used by Steel Reality to analyze the flat rolled steel market.
Recent steel mill earnings announcements have noted falling prices with some looking for current spot market prices to be near a bottom.
This dramatic decline now has steel prices lower than fair value, as determined by one of our other price models. The question on where steel prices go from here has some very interesting answers. In the past 18 months, steel prices have risen to $190 over fair value (past March) and have fallen to $70 below fair value (October & November of 2010). As of today, they are currently around $40 below fair value, threatening to create a margin squeeze at steel mills.
via WSJ: Steel Price Momentum Pushes Lower as Hot Rolled Prices Sink.