Tag: SMU

Steelmaker Cleveland-Cliffs marked sixth months of continued operation and production of hot-briquetted iron (HBI) at its direct reduction plant in Toledo, Ohio, with a ribbon-cutting celebration. In attendance for the June 9 on-site event hosted by Cliffs’ Chairman, President and CEO Lourenco Goncalves were Ohio Governor Mike DeWine, Rep. Marcy Kaptur (D, Ohio), and Toledo […] The post Cleveland-Cliffs Holds Ribbon-Cutting Event at New HBI Plant appeared first on Steel Market Update.

Hot-rolled coil prices charged higher yet again even as lead times stretched into August, a typically slower time of the year. Is a year-long hot streak for sheet possible? The answer in ordinary times would be ‘no’. But these are not ordinary times. Hot-rolled coil prices have hit a new all-time high of $1,675 per […] The post SMU Price Ranges & Indices: Hot-Rolled Coil Closes in on $1,700 per Ton appeared first on Steel Market Update.

U.S. ferrous scrap prices have settled up $60 per gross ton on prime grades and up $50 per gross ton on obsoletes, according to market participants. “Regional markets were very consistent with the up $50 (per gross ton) on obsolete grades and up $60 (per gross ton) for primes,” one scrap executive said. “This resulted […] The post June Scrap Up $50-60/gt – Sideways in July? appeared first on Steel Market Update.

I want to thank the National Association of Steel Pipe Distributors for giving me a chance to open their summer conference in Denver last week. I spoke about – what else, these days – steel prices. During the Q&A afterward and on the sidelines of the event, it was clear people were worried about (a) […] The post Michael Cowden Speaks About Steel Prices, Scrap & China appeared first on Steel Market Update.

I want to thank the National Association of Steel Pipe Distributors for giving me a chance to open their summer conference in Denver last week. I spoke about – what else, these days – steel prices. During the Q&A afterward and on the sidelines of the event, it was clear people were worried about (a) […] The post Final Thoughts appeared first on Steel Market Update.

Today, the domestic steel mills in Detroit began buying ferrous scrap for June up $60 per gross ton on prime grades (busheling and bundles) and up $50 per gross ton on cut grades and shred. It is anticipated the rest of the country will follow the Detroit lead. One of the questions we are constantly […] The post Final Thoughts appeared first on Steel Market Update.

Prices for all of the steelmaking raw materials tracked in this SMU analysis increased from April to May, with most products following large gains seen in previous months. Over the last 30 days, pig iron and coking coal prices have increased 17-19%, respectively. In that same period, prices increased for iron ore 9%, zinc 6%, scrap 5% and […] The post Raw Materials Prices: Iron Ore, Coking Coal, Pig Iron, Scrap, Zinc appeared first on Steel Market Update.

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 Increased directional volatility as well as inter-day volatility have helped increase hot rolled open interest. May is proving to be […] The post Hot Rolled Futures: Volatility Increases Open Interest appeared first on Steel Market Update.

The United States leads the world in production of sustainable steel and doesn’t get enough credit for its performance in reducing climate-changing CO2 emissions, said Steel Manufacturers Association President Philip Bell, during during Wednesday’s SMU Community Chat webinar. The minimill electric arc furnace is the preferred technology for lowering CO2 intensity. “The U.S produces over 70% […] The post Bell: American Steel, a Force for Good in the World appeared first on Steel Market Update.

Ferrous scrap prices in the U.S. are likely to see a big jump in June, estimated at $50-60 per gross ton or more, primarily as a result of strong demand from foreign buyers, sources tell Steel Market Update. “June will bring significant price increases for ferrous scrap. The biggest factor is the strength of the […] The post Ferrous Scrap Prices Expected to See Big Jump in June appeared first on Steel Market Update.