coking coal price

Citing the collapse in global oil prices, U.S. Steel Corp. will idle its plant in Lorain, Ohio, laying off 614 workers, a company spokeswoman said Tuesday.

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The plant makes steel pipe and tube for oil-and-gas exploration and drilling. With oil prices currently around $50 a barrel, their lowest level since 2009, energy companies have far less incentive to drill for new supply, reducing demand for the plant’s products.

“The company has suddenly lost a great deal of business because of the recent downturn in the oil industry,” Tom McDermott, president of United Steelworkers local 1104 wrote to workers, in a letter reviewed by The Wall Street Journal. “What appeared just a few short weeks ago as being a productive year, [with new hires in December and extra turns going on], has most abruptly turned sour.”

Strengthening prices ended a three-day flat streak as the price of Chinese slab moved up by 1.0% on Monday, January 5 to CNY 2,980 ($480.30) per metric ton. The price of Chinese HRC saw little movement at CNY 3,040 ($489.97) per metric ton. The price of Chinese coking coal held steady at CNY 1,080 ($174.07) per metric ton. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($135.39) and a low price of CNY 840.00 ($135.39) per dry metric ton.

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

The US HRC futures contract 3-month price was unchanged at $605.00 per short ton. The US HRC futures contract spot price saw little movement on Monday, closing out around $607.00 per short ton.

China’s iron ore and rebar futures fell on the first trading day of the new year after the government scrapped an export tax rebate on boron-added steel products on Dec. 31.

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Iron ore futures for May delivery on the Dalian Commodity Exchange fell 1.6% to 500 yuan ($80) a ton in morning trade. The most traded May rebar contract on the Shanghai Futures Exchange was down 1.3% at 2,560 yuan per ton.

With the domestic steel sector struggling with chronic overcapacity and sluggish growth in demand, the export market provided a lifeline for mills and trading firms in 2014, with steel product shipments surging 46.8% in the first 11 months.

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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 ($135.20) and a low price of CNY 840.00 ($135.20) per dry metric ton. At CNY 3,040 ($489.29) per metric ton, the price of Chinese HRC was essentially unchanged. The price of Chinese coking coal saw little movement at CNY 1,080 ($173.83) per metric ton.

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

The US HRC futures contract spot price fell 0.2% to $607.00 per short ton. The US HRC futures contract 3-month price saw little change in its price last Friday at $605.00 per short ton.

Iron ore is ended the year down almost 50%, making it potentially the worst-performing major commodity of 2014.

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Driving the decline has been surging output from iron-ore mines in Australia and elsewhere that has flooded the global market with supply even as China, the world’s biggest buyer of the resource, is slowing down.

A slight uptick in iron ore prices this week was overshadowed by its dramatic yearlong slide, which could outpace even the fall in oil. The Wall Street Journal reported that some analysts believe the steelmaking ingredient will continue falling in the new year.

The US HRC futures contract spot price rose 0.5% on Wednesday, December 31, making it the day’s biggest mover. After three days of flat prices, it closed at $608.00 per short ton. The US HRC futures contract 3-month price remained essentially flat at $605.00 per short ton.

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Chinese steel prices were flat for the day. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($135.44) and a low price of CNY 840.00 ($135.44) per dry metric ton. The price of Chinese HRC showed little movement on Wednesday at CNY 3,040 ($490.15) per metric ton. The price of Chinese coking coal was unchanged at CNY 1,080 ($174.13) per metric ton.

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

 

Raw steel production fell to 654,000 tons in the Great Lakes region last week, the second consecutive week of decline.

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US steel production decreased by 5.5% in the week that ended Saturday, according to an American Iron and Steel Institute estimate. Raw steel production in the Great Lakes region of Indiana and the Chicago area dropped by 10,000 tons, or about 1.5%.

Production in the Southern District, typically the nation’s second-biggest steel-producing region, plunged to 556,000 tons, down from 628,000 tons the previous week.

Total domestic raw steel production last week was about 1.746 million tons, down from 1.848 million tons a week earlier, according to the Times of Northwest Indiana.

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Chinese steel prices were flat for the day. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($134.95) and a low price of CNY 840.00 ($134.95) per dry metric ton. Chinese HRC saw little change in its price on Tuesday at CNY 3,040 ($488.38) per metric ton. The price of Chinese coking coal held steady at CNY 1,080 ($173.51) per metric ton.

The steel billet cash price continues hovering around $500.00 per metric ton on the LME for the fifth day in a row. The steel billet 3-month price was unchanged on the LME at $480.00 per metric ton.

The 3-month price of the US HRC futures contract saw little movement yesterday at $605.00 per short ton. For the fifth consecutive day, the US HRC futures contract spot price held flat at $605.00 per short ton.

Adam Minter of Bloomberg News says China’s steel boom is over.

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The domestic economy is slowing, competition is increasing, and there’s widespread disgust and impatience with the smog pouring out of their stacks. In short, their lucrative business model for the past 3 decades is slowly dying.

On Monday, December 29, Chinese HRC jumped up 6.7%, landing at CNY 3,040 ($487.96) per metric ton and making it the day’s biggest increase. After hitting a 30-day low of CNY 2,950 ($473.52) per metric ton on Thursday, December 25, the price of Chinese slab rose 5.7% yesterday. For the fifth day in a row, the price of Chinese coking coal remained essentially flat at CNY 1,080 ($173.35) per metric ton. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($134.83) and a low price of CNY 840.00 ($134.83) per dry metric ton.

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

The steel billet cash price held steady 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.

Monday saw the US HRC futures contract 3-month price drift down 0.2% to $605.00 per short ton after three quiet days. The spot price of the US HRC futures contract held steady around $605.00 per short ton.

ArcelorMittal has laid off more than 50 workers at three coal mines in Southern West Virginia.

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ArcelorMittal spokesman Bill Steers tells the Bluefield Daily Telegraph the layoffs are necessary because of decreased demand for coal. The layoffs affect 58 workers at the company’s XMV, Concept and Extra Energy mines in McDowell County.

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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 ($135.21) and a low price of CNY 840.00 ($135.21) per dry metric ton. The price of Chinese HRC remained essentially flat at CNY 2,850 ($458.75) per metric ton. The price of Chinese coking coal held steady at CNY 1,080 ($173.84) per metric ton.

For the fifth consecutive day, the steel billet cash price 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 remained essentially flat at $606.00 per short ton. The US HRC futures contract spot price held steady last Friday, remaining around $605.00 per short ton.

Essar Steel Minnesota needs help from the Minnesota Legislature in 2015 to forestall repayment of a $67 million state subsidy used to build its new taconite plant in Nashwauk.

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Essar officials met with the Iron Range delegation of state lawmakers recently and said they can’t meet an October 2015 deadline to make not just taconite iron ore pellets but also steel at the facility that remains under construction nearly 8 years after the project began.

Moreover, the company says it has no plans or money to build the steel mill.

The price of Chinese slab fell 9.1% on Thursday, December 25 to CNY 2,790 ($448.58) per metric ton, making it the day’s biggest mover. The price of Chinese HRC fell 6.9% to a 30-day low of CNY 2,850 ($458.23) per metric ton yesterday. The price of Chinese coking coal saw essentially no change for the fifth day in a row, remaining around CNY 1,080 ($173.65) per metric ton. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($135.06) and a low price of CNY 840.00 ($135.06) per dry metric ton.

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

The 3-month price of the US HRC futures contract saw little movement at $606.00 per short ton. The spot price of the US HRC futures contract held steady yesterday, remaining around $605.00 per short ton.

Steel scrap prices fell precipitously around the world this week.

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Prices in China and India recorded big price falls as recyclers prepared for the new year in the US.

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The majority of US sheet steel buyers remained on the sidelines Tuesday ahead of the Christmas and New Year holidays, further weighing down prices, Platts reported.

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At least some buyers, however, were hopeful that a combination of improved first-quarter demand and low inventories will soon push buyers back into the market.

Chinese HRC saw a 5.2% increase on Wednesday, December 24, reaching CNY 3,060 ($491.60) per metric ton and making it the biggest upwards shift of the day. Chinese slab finished the day up 2.3% to CNY 3,070 ($493.21) per metric ton. For the fifth consecutive day, the price of Chinese coking coal held flat at CNY 1,080 ($173.51) per metric ton. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($134.95) and a low price of CNY 840.00 ($134.95) per dry metric ton.

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

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

The 3-month price of the US HRC futures contract was unchanged at $606.00 per short ton. The spot price of the US HRC futures contract remained essentially flat at $605.00 per short ton.

South Korea took the first step in a World Trade Organization dispute against the US’ anti-dumping duties on its exports of specialty steel yesterday.

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It has requested consultations in Geneva over US duties on oil country tubular goods, charging that the Commerce Department‘s methodology in the investigation violated multiple provisions of the WTO’s Antidumping Agreement and the General Agreement on Tariffs and Trade, according to diplomatic sources in Geneva.

Generally, dumping is found by comparing the price sold by the foreign company in the US market to the price of the same good in the country’s own market. But South Korea only produces oil country tubular goods for export, so the Commerce Department had to rely on other data to calculate the fair price. The duties were officially put in place in September, ranging from 9.89% to 15.75%.

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Chinese steel closed mixed yesterday. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($134.99) and a low price of CNY 840.00 ($134.99) per dry metric ton. Chinese slab prices rose 0.3% to CNY 3,000 ($482.09) per metric ton. The price of Chinese HRC flattened at CNY 2,910 ($467.63) per metric ton after two days of downward movement.

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 remained essentially flat at $480.00 per metric ton on the LME.

The US HRC futures contract spot price rose 1.5% to $605.00 per short ton. The US HRC futures contract 3-month price saw little change in its price on Tuesday at $606.00 per short ton.

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