Cleveland Cliffs CEO Lourenco Goncalves is looking forward to the completion of the company’s HBI pellet plant in Toledo, Ohio. The project is on time and under budget and construction has begun on the 400-foot tower that will be completed by the end of 2019. Startup of HBI production is anticipated in mid-2020. The company […] The post Cliffs Confident its “Ahead of the Curve” appeared first on Steel Market Update.
The following article on the hot rolled coil (HRC) steel and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week: Steel The mid-week spot price increase announcement by mills to $860/ST has curbed activity in the futures as participants try to digest the […] The post Futures: Mills’ Mid-Week HR Spot Price Increases Lead to HR Futures Trading Pause appeared first on Steel Market Update.
The month of September saw steel prices continue a steady decline that began in August. Steel Market Update data in the table below shows the benchmark hot rolled price slid from more than $900 per ton in the summer to the current price around $854. The same for cold rolled, which went from $1,000 a […] The post September at a Glance appeared first on Steel Market Update.
Ferrous scrap prices have been on the decline, but may find a bottom in October, as most Steel Market Update sources forecast flat to slightly higher pricing next month. CRU Steel Analyst Ryan McKinley reports that sentiment seems to be building for a “strong sideways” market in October. “If this play’s out, it will be […] The post Ferrous Scrap Prices to Stop Their Slide in October? appeared first on Steel Market Update.
The following article on the hot rolled coil (HRC) steel and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week: Steel The HR spot market has continued to decline, however we have a bit of a divergence as the HR futures curve prices […] The post Futures: HR, BUS, and USSQ Q4’18 Futures Trading Higher appeared first on Steel Market Update.
Steel Dynamics is expecting third-quarter profitability to exceed second-quarter results, based on strong underlying demand and meaningful metal spread expansion. Average price for steel products is outpacing scrap costs for the quarter resulting in increased profitability for SDI’s sheet and long product steel operations. “Based on strong steel demand fundamentals and customer optimism, the company […] The post SDI Expecting Strong Market Dynamics appeared first on Steel Market Update.
Ferrous scrap prices in most regions have settled down by $20 to $30 per ton in September and could fall further in October as mills schedule maintenance outages, report some Steel Market Update sources. Others believe stronger export demand could help sustain prices next month. Prime grades declined by $20, while obsoletes dipped a bit […] The post Ferrous Scrap Prices Settle Down $20-30 in September appeared first on Steel Market Update.
The following article on the hot rolled coil (HRC) steel and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week: Steel Due to the Monday UK bank holiday and the Atlanta SMU Steel Summit Conference this week, we had a slow start to […] The post Steel Futures: Steep Backwardation Persists in Final Months of 2018 appeared first on Steel Market Update.
Ferrous scrap prices are likely to decline further in September after a modest drop in August, agree Steel Market Update sources. CRU Steel Analyst Ryan McKinley expects a drop of about $20 per ton across the board in September, driven primarily by an overhang of shredded scrap in the market and weak export demand. “There […] The post Ferrous Scrap Prices Likely to Decline in September appeared first on Steel Market Update.
Recent price changes have been mixed for steelmaking commodities. In the last three months, coking coal and iron ore have trended up as pig iron, scrap and zinc have trended down. Table 1 summarizes the September prices of the five materials considered in this report and the month/month, three months/three months and year/year change. Iron […] The post Raw Material Prices: Iron Ore, Coking Coal, Pig Iron, Scrap and Zinc appeared first on Steel Market Update.