Raw Steels MMI Steel prices continue to drop
Date: 2022-01-15
Raw Steels MMI: Steel prices continue to drop
April U.S. steel imports, production slide
U.S. steel imports and U.S. steel production started to soften. According to the U.S. Census Bureau, total U.S. imports of steel products saw an 11.68% decline from March to April. HRC, CRC, HDG and coiled plate imports saw respective 25.11%, 16.27%, 8.91% and 13.63% declines. Meanwhile, according to the World Steel Association, crude steel production in the U.S. fell from roughly 7.0 million tons in March to 6.9 million tons in April. Further, April’s total reflects a 3.9% year-over-year decline. As steel supply both through imports and production slid on the back of continuous, across the board steel price declines (albeit modest for plate), this may likely prove to be an early indication of a downward trend in US steel demand in the coming months.
Actual metals prices and trends
Chinese slab prices increased by 8.11% month-over-month to $812 per metric ton as of June 1. Meanwhile, the Chinese billet price decreased by 4.71% to $667 per metric ton. Chinese coking coal prices fell 2.23% to $524 metric ton. U.S. three-month HRC futures fell 14.76% to $976 per short ton. While the spot price decreased by 8.92% to $1,338 from $1,469 per short ton. U.S. shredded scrap steel prices fell 5.91% to $525 per short ton.
Post time: Jun-15-2022
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