Category: Market

Finished steel price momentum has been particularly difficult to gauge of late and what happens to ferrous scrap prices next month may be telling. Scrap for May appears to be under pressure. Despite relatively healthy U.S. steel demand and domestic mills cranking out flat rolled steel at nearly full capacity, scrap prices have seen declines […] The post Consensus View: Ferrous Scrap Prices Under Pressure for May appeared first on Steel Market Update.

Finished steel price momentum has been particularly difficult to gauge of late and what happens to ferrous scrap prices next month may be telling. Scrap for May appears to be under pressure. Despite relatively healthy U.S. steel demand and domestic mills cranking out flat rolled steel at nearly full capacity, scrap prices have seen declines […] The post Consensus View: Ferrous Scrap Prices Under Pressure for May appeared first on Steel Market Update.

Ferrous scrap settled up $20 per ton in March, but demand is softening and supplies are building, leading to predictions of April scrap prices that move sideways or decrease by $5 to $10 per ton. Outages at five mills in late March and early April will dampen scrap demand, said CRU North America Analyst Ryan […] The post Small Decline Forecast for April Ferrous Scrap appeared first on Steel Market Update.

Commercial Metals Company reported net earnings of $14.9 million on net sales of $1.4 billion for the second quarter of its fiscal 2019 year ending Feb. 28, 2019. Revenue for the quarter increased 33 percent year-over-year due to favorable market conditions and strategic growth initiatives, including completion of the Gerdau S.A. acquisition in November. The […] The post CMC Earnings Defy Weather and Seasonality appeared first on Steel Market Update.

The following article on the hot rolled coil (HRC) steel and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week: Steel Interestingly, this month the hot rolled spot price has been edging higher on the back of the latest mill price increase […] The post Hot Rolled Futures: Market’s Unconvinced appeared first on Steel Market Update.

Ferrous scrap prices for March settled up $20/GT, report Steel Market Update sources. “The ferrous market was up $20 across the board without much deviation across the country. That puts Midwest shred at around $355-360 and busheling at $370-380. Export has rebounded this week by about $5-10 from recent sales. The most recent sale to Turkey […] The post Ferrous Scrap Prices Up $20 in March appeared first on Steel Market Update.

Ferrous scrap prices are expected to settle around $20/GT higher for March following weakness in January and February, report Steel Market Update sources. “The March domestic market seems to have $20/GT baked into it,” commented one dealer in the Northeast. “Poor inflows due to bad weather and seasonality, along with a stronger export market, are […] The post Ferrous Scrap Expected to Settle Up $20 for March appeared first on Steel Market Update.

In the last month, there has been a positive turnaround of raw materials prices.  Table 1 summarizes the price changes through February of the five materials considered in this analysis. It reports the month/month, 3 month/3 month and 12 month/12 month changes and tells us that price movements with the exception of busheling have been […] The post Raw Material Prices: Iron Ore, Coking Coal, Pig Iron, Scrap and Zinc appeared first on Steel Market Update.

The following article on the hot rolled coil (HRC) steel and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week: Steel Market chatter suggests that February has been a fairly active month for HR physical steel sales as spot price indexes have pushed […] The post Hot Rolled Futures: Q2’19 to Q4’19 Backwardation Gets Steeper appeared first on Steel Market Update.

Ferrous scrap for February is settling at sideways prices for obsolete grades and down about $20 per ton for prime grades, report Steel Market Update sources. This latest dip follows on a $30-40 per ton decrease in January, largely attributed to weak demand from overseas. “A rising export market, which curtailed East Coast suppliers from […] The post Ferrous Scrap Prices: Prime Grades Down $20, Obsoletes Sideways in February appeared first on Steel Market Update.