Iron and steelmaking raw material and input prices - ore, scrap, gas, coal.
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STEELMAKING COMMODITY PRICES

World steel raw materials & energy prices

Other Prices
Ferroalloys
Metals
Steelmaking Raw Material and Input Costs
Year/ MonthThermal Coal
$/tonne
Coking Coal
$/ton
Iron Ore
Cents/dmtu
Natural Gas
$/1000m3
Steel Scrap $/tonneElectricity
Cents/KwH
2005 M156.882.765.0182.2200-2105.23
2005 M253.565.0182.2200-2055.26
2005 M354.665.0182.2200-2055.30
2005 M454.984.765.0198.4195-2055.31
2005 M555.065.0198.4155-1655.42
2005 M654.665.0198.4145-1505.86
2005 M754.585.765.0220.7195-2006.14
2005 M852.665.0220.7225-2356.20
2005 M948.565.0220.7235-2406.17
2005 M1045.583.265.0250.6205-2106.03
2005 M1140.865.0250.6200-2055.83
2005 M1241.065.0250.6180-1905.94
2006 M146.390.277.35275.8185-1905.78
2006 M251.177.35275.8215-2205.98
2006 M353.377.35275.8210-2155.88
2006 M456.794.277.35293.0220-2255.93
2006 M556.477.35293.0240-2506.00
2006 M656.177.35293.0255-2606.41
2006 M756.593.577.35302.4250-2556.61
2006 M854.677.35302.4245-2506.65
2006 M950.577.35302.4230-2356.37
2006 M1047.295.477.35311.4230-2456.16
2006 M1149.377.35311.4230-2456.04
2006 M1253.377.35311.4245-2506.00
2007 M155.094.384.7302.0264-2706.09
2007 M256.784.7302.0280-2856.18
2007 M359.384.7302.0295-3106.16
2007 M460.194.684.7281.9315-3206.19
2007 M560.084.7281.9295-3056.20
2007 M666.084.7281.9295-3006.51
2007 M772.195.184.7280.4280-2906.61
2007 M874.384.7280.4275-2856.83
2007 M973.384.7280.4280-2906.55
2007 M1080.297.884.7308.2275-2806.44
2007 M1190.684.7308.2280-2906.22
2007 M1297.584.7308.2295-3106.25
2008 M198.3n/a140.6369.7385-400n/a
2008 M2141.4140.6369.7390-405en/a
2008 M3132.1140.6369.7490-510en/a

Input Cost Notes

Earlier Commodity Cost Information
To download earlier (1980 onward) thermal coal, iron ore or natural gas time series, please click here. For earlier electricity prices, click here. Full data set in format above is also available with our compliments for year 2000 costs, for 2001 costs for 2002 cost estimates and for 2003 or for 2004 data We also publish historic and recent US export metallurgical coal prices (also called 'coking coal' or 'met coal').

Information Sources
Thermal coal, iron ore and natural gas data reproduced with thanks and permission from the International Monetary Fund (IMF Primary Commodity Prices: www.imf.org). Steel scrap figures are courtesy of Recycling International: www.recyclinginternational.com. Coking coal and electricity prices are provided with thanks from the Energy Information Administration (EIA) of the US Department of Energy: www.eia.doe.gov. Letter 'e' against any figure above indicates management estimate from steelonthenet.com.

Definitions
Thermal coal is Australian, 1200 btu/pound, less than 1% sulfur 14% ash, f.o.b. Newcastle/Port Kembla, with prices expressed in US $/metric tonne. Coking coal is average quarterly U.S. coke plant purchase price (source: EIA), with cost, insurance and freight included (c.i.f.); please note that this price series is expressed as a cost per short ton. Iron ore is 67.55% iron content, fine, contract price to Europe, f.o.b. Ponta da Madeira, shown in US cents per dry metric tonne unit (dmtu). Natural gas is Russian, border price in Germany, expressed in US $ per 1000 cubic meters of gas. Ferrous scrap is HMS1 heavy steel scrap (1/4 inch), monthly lowest scrap export price - highest scrap export price, f.o.b. Rotterdam, price in US $/metric tonne. Electricity prices are average monthly U.S. prices for industrial consumers in US cents per kilowatt hour.

Iron Ore Costs
We are frequently asked to clarify iron ore cost calculations, as expressed 'per iron unit', or 'per tonne of iron ore'. Accordingly, here is a simple example using figures from the table above, as would have been paid by a European steelmaker purchasing Brazilian iron ore. The Brazil 2006 fob price for 67.55% Fe iron ore was ~US cents 77.35/dmtu (equivalent to $0.7735/dmtu) as shown above (dmtu: dry metric tonne unit). The 2006 fob European price was thus $52.25/tonne of iron ore (which is $0.7735*67.55%). The unit dmtu refers to 1% Fe content, or to price per 10 kg iron unit.

International Labour Costs and Liquid Steel Cost
For current and historic international labour cost comparisons, please visit our global labour costs page, or to see how the input costs can be used to assess current steelmaking costs, visit our EAF steel cost or integrated steelmaking cost page.

To estimate the impact of a change in any main input cost (scrap, ore, other steel raw materials, energy, or labour) on the total, fixed or variable production costs of any steel product (semi-finished; or flat, long, or pipe and tube finished steel products) made through either main production process route (integrated steel manufacturing or electric arc steelmaking), please contact our steel cost modelling economists for assistance.






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