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Steelmaking Commodity Prices.

World steel raw material & energy costs


Price per cost unit
YearMonthThermal Coal
$/tonne
Iron Ore
$/tonne
Natural Gas
$/BTU m
Electricity
c/kWh
2015161.4468.239.256.62
2015269.0562.758.276.88
2015364.7658.058.276.79
2015456.2452.286.776.55
2015561.1960.36.686.65
2015658.9662.636.676.98
2015759.952.396.697.3
2015859.1456.196.357.32
2015957.6556.956.287.18
20151054.2653.126.036.87
20151152.4746.865.56.59
20151252.2140.55.096.42
2016149.0241.884.46.44
2016250.2746.833.976.42
2016352.2156.23.916.46
2016450.6960.923.976.44
2016551.3155.134.336.57
2016652.8551.984.767.03
2016761.2457.264.677.23
2016867.3960.894.057.23
2016972.7257.794.257.14
20161094.259.095.346.73
201611103.4373.15.696.66
20161288.1580.025.426.67
2017183.7380.416.146.59
2017279.9889.446.056.63
2017380.987.6556.71
2017483.6570.225.016.6
2017574.4262.435.066.78
2017681.0957.484.897.19
2017787.4967.7457.31
2017898.5876.075.487.22
2017997.8271.535.967.17
20171097.1161.666.186.91
20171196.6464.246.696.73
201712100.8172.257.146.54
20181106.4576.346.666.95
20182105.9577.466.726.81
2018396.6670.356.76.66
2018493.6965.756.936.58
20185105.2966.17.496.82
20186114.3365.047.457.18
20187119.5764.567.67.34
20188117.3467.158.087.22
20189114.1668.449.527.17
201810108.7373.418.796.91
201811100.7373.268.276.88
201812101.3769.157.986.65
2019198.5676.167.266.58
2019295.4288.226.016.68
2019393.1286.475.186.73
2019486.7793.704.926.53
2019582.32100.24.346.71
2019672.49108.93.596.91
2019772.08120.23.627.18
2019865.693.073.687.44
2019966.093.084.217.09
20191068.988.55.066.85
20191167.085.05.156.73
20191266.292.74.626.37
2020169.795.83.636.33
2020267.687.72.916.42
2020366.789.02.726.40
2020458.684.72.126.41
2020552.593.71.586.48
2020652.2103.31.756.95
2020751.6108.51.807.17
2020850.1121.12.867.09
2020954.6123.83.95n/a
20201058.4119.84.89n/a
20201162.8124.44.84n/a

Table last updated: 21st December 2020. Next update: ~ 20th January 2021.


Comment on recent commodity price trends

Note the very marked escalation in the cost of Russian natural gas in recent months. Current gas prices are more than double the price level of mid-2020. Such dramatic cost increases were clearly not evident in earlier years.


Notes and commodity definitions

Thermal Coal: Australian, 1200 btu/pound, less than 1% sulfur 14% ash, fob Newcastle, Port Kembla. This data is expressed in US $ per metric tonne.

Iron Ore: price figures are for Chinese imported iron ore fines (62% Fe spot, CFR Tianjin port). The units are $ per metric tonne.

Natural Gas and Electricity Costs: Gas is Russian origin, border price in Germany expressed in US $ per million metric British Thermal Units. Electricity figures are average monthly US costs for industrial consumers. Units are cents per kilowatt hour.



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