According to figures from panelists speaking at the Steel Survival Strategies conference in New York sponsored by American Metal Market and World Steel Dynamics, prices for steelmaking input materials have risen over the past month.
Mr Ingrid Fermin GM & VP international markets for International Briquette Marketing Services said that hot briquette iron has risen modestly to USD 195 per tonne to USD 200 per tonne from USD 180 per tonne to USD 185 per tonne a month ago.
Mr PS Venkataramanan CEO Long Carbon North America at ArcelorMittal said that spot prices for slab had risen to USD 380 per tonne from USD 325 per tonne to USD 350 per tonne a month ago.
Mr Ernie Thrasher president of Xcoal of Latrobe PA said that coking coal was now selling for USD 120 per short tonne to USD 122 per short tonne FOB Port at Hampton Roads.
Mr Michael Coslov chairman & CEO of Tube City said that scrap prices have risen about USD 75 per long tonne across all grades since lows achieved earlier this. June scrap prices are up about USD 10 per long tonne to USD 20 per long tonne over May prices.
According to Me Fermin, though 2009 shows a surplus in capacity for hot briquette iron, demand and capacity will move into balance in 2010 and 2011 will show a shortage of capacity. HBI has shown a gradual recovery in pricing from a low of USD 130 per tonne in December 2008, moving to USD 145 per tonne by April and strengthening further to USD 185 per tonne a month ago and USD 200 per tonne now.
Mr Thresher further added that coking coal prices went on a roller coaster ride starting at USD 300 per short tonne as late as October 2008, before plunging to below USD 100 per tonne as recently as one month ago. He said that "We ran off the rails in November and December 2008, and the first half of 2009 has been ugly. I believe coking coal inventories are at the point where people will have to buy coking coal to make steel. By late 2010 or 2011, raw materials will again be in short supply."