coking coal price

Outlooks for steel and iron ore remained negative as we near 2015. BHP Billiton said demand in China will remain low next year.

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The iron ore giant’s CEO, Andrew Mackenzie, also said that BHP will try to make up for the weak demand in iron ore by selling more copper.

Chinese slab dropped to CNY 2,900 ($468.71) per metric ton making it the biggest mover on the weekly Raw Steels MMI® this week, after drifting 13.4%. The price of Chinese HRC fell 3.2% to CNY 3,060 ($494.57) per metric ton after rising 6.4% the week before. Chinese billet prices were off slightly at CNY 2,800 ($452.55) per metric ton, down from CNY 2,840 ($461.98) a week ago. Prices for Chinese coking coal remained constant, closing the week at CNY 1,080 ($174.55) per metric ton. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($135.76) and a low price of CNY 840.00 ($135.76) per dry metric ton.

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

Closing at $480.00 per metric ton, the 3-month price of steel billet remained unchanged on the LME for the week. At $500.00 per metric ton, the steel billet cash price remained essentially flat on the LME.

The US HRC futures contract spot price closed last week at $616.00 per short ton, after a 2.2% drop. At $618.00 per short ton, the US HRC futures contract 3-month price finished the week down 1.1%. At $328.00 per short ton, the week finished with no movement for US shredded scrap.

Korean steel prices were flat for the week. Korean steel scrap traded sideways last week, hovering around KRW 214,000 ($193.81) per metric ton. Closing at KRW 635,000 ($619.69) per metric ton, Korean pig iron remained unchanged for the 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.

China’s monthly imports of most major commodities rose in November on favorable prices and stockpiling, although a gloomy outlook for steel dragged iron ore arrivals down to their second lowest this year.

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Year-on-year comparisons were, however, lackluster with double-digit percentage drops in coal and iron ore imports and a near 4% decline in copper shipments, reflecting China’s waning appetite for commodities as its economic growth slows to the weakest since the global financial crisis.

With a decline of 9.9% to CNY 2,900 ($469.67) per metric ton on Tuesday, December 9, Chinese slab recorded the biggest price drift of the day. The price of Chinese HRC rose 3.7% yesterday, just off the 30-day low of CNY 3,060 ($495.58) per metric ton it hit on Friday, December 5. The price of Chinese coking coal remained essentially flat at CNY 1,080 ($174.91) per metric ton. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($136.04) and a low price of CNY 840.00 ($136.04) 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. The 3-month price of steel billet saw little movement on the LME at $480.00 per metric ton.

After holding steady for the past few days, the 3-month price of the US HRC futures contract fell 1.4%, closing at $616.00 per short ton. The US HRC futures contract spot price weakened by 0.3%, settling at $616.00 per short ton.

ArcelorMittal is idling Indiana Harbor West’s finishing operations, and has notified workers it plans to shut down the electric arc furnace at the nearby Indiana Harbor Long Carbon.

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Hundreds of steelworkers in East Chicago would be displaced, but they’ve been told they will be transferred and keep their jobs with the company.

Steelworkers who wished to remain anonymous said ArcelorMittal has idled the No. 2 galvanizing line at ArcelorMittal Indiana Harbor West, which was once the world’s most productive galvanizing line. United Steelworkers Local 1011 notified workers that ArcelorMittal tentatively plans to idle No. 1 aluminizing line at ArcelorMittal Indiana Harbor West, formerly the LTV steel mill, in December 2015 in anticipation of shifting the production to the company’s new AM/NS Calvert plant in Alabama.

The steel giant also told employees it planned to close the electric arc furnace at Indiana Long Carbon Plant No. 4 in March 2015, and buy foreign steel from sister plants instead.

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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 ($136.60) and a low price of CNY 840.00 ($136.60) per dry metric ton. Chinese slab prices rose 0.5% to CNY 3,220 ($523.62) per metric ton. The price of Chinese HRC showed little movement yesterday at CNY 2,950 ($479.71) per metric ton.

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 saw essentially no change on the LME for the fifth day in a row, remaining around $480.00 per metric ton.

The spot price of the US HRC futures contract fell 1.3% to $618.00 per short ton. The US HRC futures contract 3-month price held steady around $625.00 per short ton.

The outlook for China’s steel market has improved slightly, with expectations of new orders rising and steel output tipped to stay at November levels, according to the latest Platts China Steel Sentiment Index, which shows a headline reading of 37.39 out of a possible 100 points in December.

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Although the December index is up 11.77 points from 25.61 in November, it marks the 6th consecutive month the headline index was below 50 points. The CSSI reflects expectations of market participants for the month ahead. Similar to a purchasing managers’ index, a CSSI reading above 50 indicates an increase/expansion and a reading below 50 indicates a decrease/contraction.

The day’s biggest mover was Chinese HRC, dropping 6.6% to settle at CNY 2,950 ($479.40) per metric ton on Friday, December 5. Chinese slab was down 4.4% from the previous market day, closing at CNY 3,203 ($520.52) per metric ton. The price of Chinese coking coal remained steady at CNY 1,080 ($175.51) per metric ton. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($136.51) and a low price of CNY 840.00 ($136.51) per dry metric ton.

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

For the fifth consecutive day, the steel billet cash price held flat 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 US HRC futures contract 3-month price remained essentially flat at $625.00 per short ton. After dropping for two days, the US HRC futures contract spot price flattened at $626.00.

AK Steel said that the reline of the blast furnace hearth at its Ashland, Kentucky Works was successful and the blast furnace has returned to full production following an approximate 4-week, planned outage for maintenance work. The outage had been planned to occur in 2015 but was advanced to fully address operational issues that began earlier this year.

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The company said that the Ashland blast furnace is now operating at its full capacity, which is significantly above pre-outage levels. In addition to the hearth reline, other routine maintenance work was also completed on the blast furnace.

“We are very pleased that the Ashland blast furnace is back on-line and operating well,” said James L. Wainscott, Chairman, President and CEO of AK Steel. “Completion of this outage helps position us to serve our customers’ needs for years to come.”

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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 ($136.61) and a low price of CNY 840.00 ($136.61) per dry metric ton. Chinese HRC held its value on Thursday at CNY 3,160 ($513.91) per metric ton. At CNY 1,080 ($175.64) per metric ton, the price of Chinese coking coal was essentially unchanged.

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 steel billet 3-month price saw little movement on the LME at $480.00 per metric ton.

The US HRC futures contract spot price weakened by 0.6%, settling at $626.00 per short ton. The US HRC futures contract 3-month price saw little change in its price yesterday at $625.00 per short ton.

MetalMiner‘s monthly Raw Steels MMI® registered a value of 78 in December, a 6% decrease from 83 in November.*

*Note: Effective 12/1/14, MetalMiner updated some of the source data from China used to calculate this index. Therefore the December index reading appears a little more volatile when compared to the November reading. Any movements in the January reading will once again reflect only market price changes as opposed to market and source data prices changes.

Raw-Steels_Chart_December-2014_FNL

As we commented last month, things were pointing to further weakness in steel prices. While prices topped in summer, scrap prices managed to hold well. However, in October, scrap prices finally succumbed, confirming that increases in steel prices were not sustainable.

The future doesn’t look too bright either, as we get into 2015. Steel-Insight Editor James May recently gave some reasons based on fundamentals of why coil prices could fall over 20% by Q2 next year.

Read more

A leading Chinese steel industry body predicts a modest increase in steel demand for 2015 as economic growth slows down in China, according to Caixin.

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The China Metallurgical and Industry Planning and Research Institute believes demand for steel products will reach 720 million tons next year, up 1.4%  from this year. At the same time, the steel industry will produce 834 million tons of crude steel, an increase of 1.71% from 2014.

The institute also predicts China will import 1 billion tons of iron ore next year, an increase of 6.4% from 2014. The head of the institute and the deputy chair of the government-backed China Iron and Steel Association, Li Xinchuang says he thinks $60 per ton would be the floor price for iron ore.

Chinese slab saw a 9.1% increase on Wednesday, December 3, reaching CNY 3,350 ($544.94) per metric ton and making it the biggest upwards shift of the day. Chinese HRC prices inched up 1.3% to CNY 3,160 ($514.04) per metric ton. Following two days of downward movement, the price of Chinese coking coal held steady at CNY 1,080 ($175.68) per metric ton. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($136.64) and a low price of CNY 840.00 ($136.64) 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 steel billet 3-month price was unchanged on the LME at $480.00 per metric ton.

The spot price of the US HRC futures contract declined 0.2% to $630.00 per short ton. The US HRC futures contract 3-month price saw little movement yesterday at $625.00 per short ton.

This week in steel, production from the Great Lakes region of the US fell off, and Nucor and Big River Steel renewed their Arkansas plant fight, this time in federal court.

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As 2015 approaches, most are predicting lower prices for the new year, as well.

A 22.3% decline in Chinese coking coal made it the biggest mover of the week, closing at CNY 1,080 ($175.68) per metric ton on the weekly Raw Steels MMI®. Chinese billet prices fell to CNY 2,840 ($461.98) per metric ton, down from CNY 3,110 ($506.93) a week ago. Chinese HRC rose 6.4% over the past week to CNY 3,160 ($514.04) per metric ton. Chinese slab dropped 3.7% over the past week to CNY 3,350 ($544.94) per metric ton. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($136.64) and a low price of CNY 840.00 ($136.64) per dry metric ton.

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

On the LME, the 3-month price of steel billet remained steady from the previous week at $480.00 per metric ton. Following a steady week, prices for on the LME the steel billet cash price closed flat at $500.00 per metric ton.

US shredded scrap weakened by 4.4% to land at $328.00 per short ton. With a 0.6% decrease, the US HRC futures contract spot price closed the week at $630.00 per short ton. Since last week, the price of the US HRC futures contract 3-month price fell to $625.00 per short ton after moving 0.5%.

Korean steel prices were flat for the week. Closing at KRW 214,000 ($192.28) per metric ton, Korean steel scrap remained unchanged for the week. Following a steady week, prices for Korean pig iron closed flat at KRW 635,000 ($619.69) per metric 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.

Raw steel production slid after a 3-week surge, dropping to 655,000 tons.

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US steel production fell by 2.4% in the week that ended Saturday, according to an American Iron and Steel Institute estimate. Local production fell by 22,000 tons, or about 3.2%, the Times of Northwest Indiana reported.

Most of the raw steel production in the Great Lakes region takes place in Indiana and the Chicago area.

Production in the Southern District, typically the nation’s second-biggest steel-producing region, fell to 634,000 tons, down from 643,000 tons the previous week.

Total domestic raw steel production last week was about 1.835 million tons, down from 1.882 million tons a week earlier.

Chinese coking coal saw the biggest price decline of the day, dropping 3.6% to close at CNY 1,080 ($175.47) per metric ton on Tuesday, December 2. The price of Chinese HRC ended a two-day climb, settling at CNY 3,120 ($506.93) per metric ton. The price of Chinese slab remained steady at CNY 3,070 ($498.80) per metric ton. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($136.48) and a low price of CNY 840.00 ($136.48) 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 saw little movement on the LME at $480.00 per metric ton.

The US HRC futures contract spot price fell 0.6% to $631.00 per short ton yesterday after two days of no change. The US HRC futures contract 3-month price fell 0.5% yesterday to $625.00 per short ton after three straight days with no change.

Big River Steel, which has received a state permit to build a new steel mill in eastern Arkansas, said Friday that a federal judge should block a challenge mounted by an existing nearby Nucor Steel mill.

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Big River Steel said in court documents that the challenge by Nucor was a “collateral attack” on a company that already has permission from state regulators to build a $1.3 billion plant near Osceola. Nucor already fought the permit and lost at the state level.

Nucor has claimed in federal court that Big River Steel has violated the Clean Air Act and that it should be able to press claims under the law’s “citizen suit” provision. Big River Steel claims that is giving Nucor another bite at the apple.

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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 ($136.73) and a low price of CNY 840.00 ($136.73) per dry metric ton. Chinese coking coal saw its price drop 19.4% to a 30-day low of CNY 1,120 ($182.31) per metric ton on Monday. The price of Chinese slab reached a 30-day low after decreasing 11.8% to CNY 3,070 ($499.72) 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 saw essentially no change on the LME for the fifth day in a row, remaining around $480.00 per metric ton.

The US HRC futures contract 3-month price saw little movement yesterday at $628.00 per short ton. The spot price of the US HRC futures contract saw little change in its price yesterday at $635.00 per short ton.

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