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How did the US steel market end last week?

In the US steel market, imports and exports increased last week.

How did the US steel market end last week?

Looking at country-by-country developments;


Australia's coking coal exports fell by 4% in six months. India was the main export destination (20.5 million tons).

In June, iron ore shipments from Port Hedland increased to 51,929,362 tons, up on a monthly and annual basis.

The Australian coking coal price closed the week at $240 and iron ore at $105.18.


In the week ended July 29, US crude steel production increased slightly by 0.5% on a weekly basis. Total production was 1.749 million short tons.

In June, the US imported 461,400 tons of slab. Brazil was the largest importer with 280,000 tons.

US imports of CRC and hot rolled flat steel were 101,053 tons and 225,000 tons, respectively.

The US steel market was down in the week in question. The HRC price was $56 lower at $1,006.00 and the CRC price was $54 lower at $1,185.00. Scrap prices were $365 for scrap HMS1 and $350 for scrap HMS 1/2 (80:20). The pig iron price fell slightly to $430. The iron ore price closed the week at $105.18.


The Brazilian slab price held steady at $610, while the pig iron price fell to $404. Iron ore price closed the week at $159.20.

Looking at company-based developments;

Nucor Corporation kept its plate prices at $1,570/short ton for the third month in a row as it prepares to open its September bookings.

Vale Indonesia reported higher revenue in the first half of the year thanks to increased production and cost control. The group's first-half revenue reached $658.9 million.

Hybar secured sufficient financing ($700 million) for its innovative green steel mill project. Once fully operational, Hybar's plant is expected to produce 630,000 tons of rebar annually and employ around 154 skilled professionals.


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