Nucor, Steel Dynamics Cut Steel Sheet Production

Both Nucor‘s Hickman, Ark., facility and Steel Dynamics’ Butler, Ind., facility have taken one of their two casters offline, multiple market sources told Platts. At least one source also said production cuts are being considered at Nucor’s Crawfordsville, Ind., facility.

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The 3-month price of the US HRC futures contract held steady yesterday, remaining around $597.00 per short ton. After dropping for two days, the US HRC futures contract spot price flattened at $594.00.

Chinese HRC saw a 3.7% drop on Wednesday, January 14, landing at CNY 2,890 ($466.57) per metric ton and making it the biggest mover of the day. The price of Chinese slab fell to a 30-day low at CNY 2,650 ($427.82) per metric ton after shifting 1.5%. For the fifth consecutive day, the price of Chinese coking coal held flat at CNY 1,080 ($174.36) per metric ton. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($135.61) and a low price of CNY 840.00 ($135.61) per dry metric ton.

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The cash price of steel billet remained essentially flat at $500.00 per metric ton on the LME. The 3-month price of steel billet was unchanged on the LME at $480.00 per metric ton.
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