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 The HR spot market has continued to decline, however we have a bit of a divergence as the HR futures curve prices […] The post Futures: HR, BUS, and USSQ Q4’18 Futures Trading Higher appeared first on Steel Market Update.
Steel Dynamics is expecting third-quarter profitability to exceed second-quarter results, based on strong underlying demand and meaningful metal spread expansion. Average price for steel products is outpacing scrap costs for the quarter resulting in increased profitability for SDI’s sheet and long product steel operations. “Based on strong steel demand fundamentals and customer optimism, the company […] The post SDI Expecting Strong Market Dynamics appeared first on Steel Market Update.
Ferrous scrap prices in most regions have settled down by $20 to $30 per ton in September and could fall further in October as mills schedule maintenance outages, report some Steel Market Update sources. Others believe stronger export demand could help sustain prices next month. Prime grades declined by $20, while obsoletes dipped a bit […] The post Ferrous Scrap Prices Settle Down $20-30 in September 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 Due to the Monday UK bank holiday and the Atlanta SMU Steel Summit Conference this week, we had a slow start to […] The post Steel Futures: Steep Backwardation Persists in Final Months of 2018 appeared first on Steel Market Update.
Ferrous scrap prices are likely to decline further in September after a modest drop in August, agree Steel Market Update sources. CRU Steel Analyst Ryan McKinley expects a drop of about $20 per ton across the board in September, driven primarily by an overhang of shredded scrap in the market and weak export demand. “There […] The post Ferrous Scrap Prices Likely to Decline in September appeared first on Steel Market Update.
Recent price changes have been mixed for steelmaking commodities. In the last three months, coking coal and iron ore have trended up as pig iron, scrap and zinc have trended down. Table 1 summarizes the September prices of the five materials considered in this report and the month/month, three months/three months and year/year change. Iron […] The post Raw Material Prices: Iron Ore, Coking Coal, Pig Iron, Scrap and Zinc appeared first on Steel Market Update.
Table 1 summarizes the August prices of the five materials considered in this report and the month/month, three months/three months and year/year change. In the last month, coking coal FOB Australia’s East Coast eked out a small gain as the other four experienced price declines. At the Jackson Hole meeting of the Fed on Friday, […] The post Raw Material Prices: Iron Ore, Coking Coal, Pig Iron, Scrap and Zinc appeared first on Steel Market Update.
Steel Market Update expects to welcome nearly 900 executives to our Steel Summit Conference in Atlanta Aug. 27-29. There is still time to sign up if you would like to be one of them. To register, visit: www.SteelMarketUpdate.com/Events/Steel-Summit or by contacting our office at 772-932-7538. See the full conference program below: Making Sense Out of […] The post 2018 Steel Summit Program appeared first on Steel Market Update.
Effective Monday, August 13, the Trump administration doubled the tariffs on steel imports from Turkey to 50 percent, stunning the market and setting off a wave of speculation on how this trade action may impact the steel and scrap markets in North America. A tweet from President Trump early Friday set the change in motion: […] The post Steel Execs Anticipate Fallout from Trump Tariff on Turkey appeared first on Steel Market Update.
Steel pricing is the product of a complex interplay between supply and demand, along with other factors such as ferrous scrap prices, imports and government trade actions. Steel Market Update canvasses steel executives twice each month with its market trends questionnaire to take the pulse of the industry. The current prevailing view shows supplies tightening, […] The post SMU Market Trends: Supply, Demand, Pricing appeared first on Steel Market Update.