coking coal price

Tokyo Steel has cut its steel scrap prices again by JPY 500 per ton since January 10th.

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After the adjustment, its H2 scrap purchasing prices averaged at JPY 23,500 per ton to JPY 26,500 per ton.

On Thursday, January 15, the day’s biggest mover was the 3-month price of the US HRC futures contract, which saw a 1.5% decline to $588.00 per short ton. The US HRC futures contract spot price weakened by 0.7%, settling at $590.00 per short ton.

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Chinese steel prices closed flat for the day. 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. At CNY 2,890 ($466.57) per metric ton, the price of Chinese HRC was essentially unchanged. The price of Chinese coking coal continues hovering around CNY 1,080 ($174.36) per metric ton for the fifth day in a row.

The steel billet cash price was unchanged on the LME at $500.00 per metric ton. For the fifth consecutive day, the 3-month price of steel billet held flat on the LME at $480.00 per metric ton.

Back in 2011, Northeast Ohio was abuzz about the rebirth of its steel industry, Crain’s Cleveland Business reported. France’s Vallourec was investing close to $1 billion in a new steel mill in Youngstown, TimkenSteel was investing $225 million in its Stark County mills and, in Lorain, Republic and U.S. Steel were investing, respectively, $85 million and $95 million in their operations.

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All of those mills make what is known as “oil country tubular goods” (OTCG) — basically, the steel tubing needed to drill for gas and oil, along with the fittings and components used with the tubing itself. With each new shale well using more than 3 miles of pipe to go down and then laterally into the nation’s shale plays, all of the companies were rushing to serve this rapidly growing market.

Today, though, the region is reeling from news last week that U.S. Steel plans to idle its Lorain mill, putting more than 600 steel workers out of work.

After falling 1.8%, the spot price of the US HRC futures contract landed at $594.00 per short ton, making it the week’s biggest mover on the weekly Raw Steels MMI®. The 3-month price of the US HRC futures contract declined to $597.00 per short ton after drifting 0.8% since last week. US shredded scrap saw its price rise 0.6% over the past week to $336.00 per short ton.

The week’s biggest mover on the weekly Raw Steels MMI® was Korean pig iron, which saw a 16.5% decline to KRW 530,000 ($491.38) per metric ton. Following a steady week, prices for Korean steel scrap closed flat at KRW 169,000 ($156.68) per metric ton.

* Get the complete prices every day on the MetalMiner IndX℠

Chinese steel prices were mixed for the week. 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. Chinese HRC finished the week at CNY 2,890 ($466.57) per metric ton after falling 4.9%. Following a 1.0% increase in the week prior, the price of Chinese slab fell 11.1% last week to CNY 2,650 ($427.82) per metric ton. Chinese coking coal remained essentially flat from the previous week at CNY 1,080 ($174.36) per metric ton.

Closing at $480.00 per metric ton, the steel billet 3-month price remained unchanged on the LME for the week. Also on the LME, the cash price of steel billet remained steady from the previous week at $500.00 per metric ton.

The spot price of the US HRC futures contract closed last week at $594.00 per short ton, after a 1.8% drop. Following a 0.8% drop, the US HRC futures contract 3-month price finished the week at $597.00 per short ton. US shredded scrap rose 0.6% over the past week to $336.00 per short ton.

The Raw Steels MMI® collects and weights 13 global steel and raw material price points to provide a unique view into global steel price trends. For more information on the Raw Steels MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.

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.

* Get the complete prices every day on the MetalMiner IndX℠

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.

Brent crude oil prices hit their lowest in almost 6 years today in a market readying for further falls and steel responded on the London Metal Exchange with steep price falls of its own. A big OPEC producer stood by the group’s decision not to cut output to tackle a supply glut.

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On the contrary, the United Arab Emirates’ oil minister, Suhail bin Mohammed al-Mazroui, told Reuters on Tuesday that OPEC’s November decision not to cut output had been the right one.

“The strategy will not change,” he said. By not reducing output, “we are telling the market and other producers that they need to be rational.”

Canada, however, is responding to OPEC’s actions not by reducing its output of shale and oil sands production, but by digging in for the long haul.

On Monday, major producer Canadian Natural Resources Ltd. became the latest to underscore the resilience of oil-sands growth. The company told the Wall Street Journal lower oil prices will force it to trim investment on new projects and curtail its growth forecast—but it still expects overall output to grow about 7% over 2014 levels, and it vowed to keep spending on expanding output at its biggest oil-sands mine over the next 2 years.

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Chinese steel closed mixed on Monday. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($135.30) and a low price of CNY 840.00 ($135.30) per dry metric ton. After falling 0.4% to CNY 2,690 ($433.28) per metric ton, the price of Chinese slab reached a 30-day low. After a couple of days of decreasing prices, the price of Chinese HRC held steady at CNY 3,000 ($483.21).

The steel billet cash price saw essentially no change on the LME for the fifth day in a row, remaining around $500.00 per metric ton. The steel billet 3-month price saw little movement on the LME at $480.00 per metric ton.

The US HRC futures contract spot price fell 0.5% to $594.00 per short ton. The US HRC futures contract 3-month price saw little movement on Monday at $597.00 per short ton.

China’s cancellation on January 1 of an export tax rebate on steel alloys that contain boron may provide support for international steel prices and prompt Russia to fight for market share in the trade, analysts told the South China Morning Post.

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Boron is a chemical added to steel products to increase steel quality. But more and more Chinese steelmakers, including some unqualified ones, exploited this to earn export tax rebates, leading to trade friction especially with Southeast Asian countries, which imported large amounts of steel from China.

Many Chinese producers are simply replacing boron with chrome.

Closing at CNY 2,700 ($434.51) per metric ton on Friday, January 9, Chinese slab saw the biggest change at a 8.2%. Chinese HRC finished the day down 0.7% to CNY 3,000 ($482.79) per metric ton. For the fifth consecutive day, the price of Chinese coking coal held flat at CNY 1,080 ($173.81) per metric ton. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($135.18) and a low price of CNY 840.00 ($135.18) per dry metric ton.

* Get the complete prices every day on the MetalMiner IndX℠

The cash price of steel billet saw essentially no change on the LME for the fifth day in a row, remaining around $500.00 per metric ton. The 3-month price of steel billet saw little movement on the LME at $480.00 per metric ton.

Following a quiet couple of days, the spot price of the US HRC futures contract fell 1.3% last Friday to $597.00 per short ton. The US HRC futures contract 3-month price dropped by 0.8% to $597.00 per short ton after holding steady.

South Korea’s POSCO is likely to trim export prices of hot rolled coils (HRC) steel to Japan by CNY 2,000-3,000 a ton for the first quarter of 2015 Shanghai Metals Market reported.

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Currently, Japan’s suppliers have planned to cut their prices by the similar range to offset cheaper import materials. POSCO will also reduce its supply of HRC to Japan due to the weakening yen.

According to data released by Japan Iron & Steel Federation (JISF), Japan’s imports of HRC rose to 151,000 tons in September, up by 12.5% from the previous month and soaring by nearly 51.5% from the same month of last year.

Decreasing 0.3% made Chinese HRC the biggest mover of the day, finishing at CNY 3,020 ($486.11) per metric ton on Thursday, January 8. The price of Chinese coking coal continues hovering around CNY 1,080 ($173.84) per metric ton for the fifth day in a row. Chinese slab held its value yesterday at CNY 2,940 ($473.23) per metric ton. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($135.21) and a low price of CNY 840.00 ($135.21) per dry metric ton.

* Get the complete prices every day on the MetalMiner IndX℠

The cash price of steel billet was unchanged on the LME at $500.00 per metric ton. For the fifth day in a row, the steel billet 3-month price remained essentially flat on the LME at $480.00 per metric ton.

The 3-month price of the US HRC futures contract saw little movement yesterday, closing out around $602.00 per short ton. The US HRC futures contract spot price saw little movement yesterday at $605.00 per short ton.

The monthly Raw Steels MMI® registered a value of 74 in January, a decrease of 5.1% from 78 in December.

Steel prices can’t catch a break: commodities keep falling as oil sinks, the dollar keeps rising, foreign markets tumble, and  non-ferrous metals keep getting hit. On top of that, fundamentals within the industry don’t look very promising.

Steel ETF (SLX) since 2012

Steel ETF (SLX) since 2012. Source: MetalMiner

Since steel products are thinly-traded in financial markets it gets tricky to technically study steel prices. However, one of the things we frequently look at are steel stocks, as they are strongly tied to steel prices. In the chart above we see the market vectors steel ETF (an index composed of publicly traded companies predominantly involved in the production of steel products or mining and processing of iron ore).

Raw-Steels_Chart_January-2015_FNL

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U.S. Steel laid off a total of 756 workers in its oil and gas steel tube business this week as low oil prices and tumbling hot-rolled coil prices affected profitability.

FREE Download: The Monthly MMI® Report – covering Steel/Iron Ore markets.

Prices remained weak for the third straight week as a strong US dollar pushed commodities lower across the board.

* Get the complete prices every day on the MetalMiner IndX℠

Chinese steel prices were mixed for the week. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($135.27) and a low price of CNY 840.00 ($135.27) per dry metric ton. Closing out the third week of declining prices, the price of Chinese slab dropped by 0.3%, finishing at CNY 2,940 ($473.46) per metric ton. At CNY 3,030 ($487.95) per metric ton, the price of Chinese HRC finished the week down 0.3%. Chinese coking coal prices held steady from the previous week at CNY 1,080 ($173.92) per metric ton.

On the LME, the 3-month price of steel billet closed at $480.00 per metric ton after a flat week. Also on the LME, the cash price of steel billet traded sideways last week, hovering around $500.00 per metric ton.

Korean steel prices were flat for the week. Korean steel scrap traded sideways last week, hovering around KRW 169,000 ($153.05) per metric ton. At KRW 635,000 ($619.69) per metric ton, the price of Korean pig iron did not change since the previous week.

The Raw Steels MMI® collects and weights 13 global steel and raw material price points to provide a unique view into global steel price trends. For more information on the Raw Steels MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.

Benchmark Australian ore has advanced almost 8% since Christmas after prices hit a 5-and-a-half-year low of $65.60 a ton in December.

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The Financial Times reported that few are convinced the rally will last. Analysts believe the bounce in prices is being driven by restocking at steel mills ahead of the Chinese new year and changes to reserve requirements for Chinese banks. With more supply set to come on line and demand in China weak, many believe prices will come under further pressure this year, even trading into the $50s.

Decreasing 1.3% made Chinese slab the biggest mover of the day, finishing at CNY 2,940 ($473.46) per metric ton on Wednesday, January 7. After remaining flat for three days, the price of Chinese HRC fell 0.3% on Wednesday to CNY 3,030 ($487.95) per metric ton. The price of Chinese coking coal remained essentially flat at CNY 1,080 ($173.92) per metric ton. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($135.27) and a low price of CNY 840.00 ($135.27) per dry metric ton.

* Get the complete prices every day on the MetalMiner IndX℠

For the fifth consecutive day, the cash price of steel billet held flat on the LME at $500.00 per metric ton. The steel billet 3-month price continues hovering around $480.00 per metric ton on the LME for the fifth day in a row.

The 3-month price of the US HRC futures contract held steady around $602.00 per short ton. The spot price of the US HRC futures contract showed little movement on Wednesday, hovering around $605.00 per short ton.

U.S. Steel has idled another oil country tubular goods (OCTG) steel plant in Houston, where 142 will be laid off. The facility generates more than 100,000 tons annually of steel pipes and tubes for oil and gas exploration and drilling. It is believed to be the second steel-producer casualty of the massive drop in oil prices this year, which fell as low as $48 a barrel yesterday reaching a 5-year nadir.

FREE Download: The Monthly MMI® Report – covering Steel/Iron Ore markets.

The first casualty was another U.S. Steel plant in Lorain, Ohio, idled yesterday. U.S. Steel has laid off a total of 756 workers at the 2 facilities.

The US HRC futures contract 3-month price closed Tuesday, January 6 at $602.00 per short ton, halting its three-day flat run with a 0.5% drift. The spot price of the US HRC futures contract saw a 0.3% decline to $605.00 per short ton.

* Get the complete prices every day on the MetalMiner IndX℠

Chinese steel prices closed flat for the day. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($135.03) and a low price of CNY 840.00 ($135.03) per dry metric ton. The price of Chinese HRC continues hovering around CNY 3,040 ($488.68) per metric ton for the fifth day in a row. For the fifth consecutive day, the price of Chinese coking coal held flat at CNY 1,080 ($173.61) per metric ton.

The steel billet cash price saw little movement on the LME at $500.00 per metric ton. The 3-month price of steel billet saw essentially no change on the LME for the fifth day in a row, remaining around $480.00 per metric ton.

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