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 HR futures consolidate in quiet trading week as the market absorbs the anticipated first decline in the HR index since the […] The post Shorter Lead Times, Auto Inventories Affecting Futures Markets appeared first on Steel Market Update.
The following article is the opinion of Steel Market Update (SMU) founder and publisher, John Packard. There is a new kid in town, his/her name is Big River Steel. No other steel mills like BRS because they are taking market share and, well, everyone wants to keep all of their toys. Big River Steel Arkansas […] The post The Sky is Not Falling, Just Some Nuts Rolling on the Ground… appeared first on Steel Market Update.
The ferrous scrap markets have been all about doom and gloom up until the past couple of days. Obsolete grade and shredded scrap were reported trading down $25 per ton in Brazil. Prime grades were down $10 per ton. Our sources were telling us export prices were down and the exporters off the east coast […] The post Surprise! Scrap Prices Firming as February Negotiations Continue appeared first on Steel Market Update.
Over the weekend, we were able to discuss the status of ferrous steel scrap negotiations for February with a couple of scrap dealers as well as one individual associated with the pig iron markets. The Detroit areas mills were the first to settle and the decline in shred and obsolete grades was not as dramatic […] The post Early Scrap Down $25-$40 on Shred/Obsolete and $10-$35 on Primes appeared first on Steel Market Update.
Steel Market Update (SMU) has been struggling to get a clear view of the current market situation as we attempt to identify which direction we see flat rolled steel prices going from here. We have been receiving mixed messages over the past two weeks and we have been advising our readers to remain vigilant and […] The post HR Price Drops & Price Momentum Indicator Now at Neutral 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 Finally getting some traction in HR futures here this past week as prices declined along the curve and especially in the […] The post Hot Rolled Futures: Gaining Some Traction appeared first on Steel Market Update.
SMU scrap sources are all telling us that the recent transactions with Turkey have “surprised” dealers, the net result may well be a much weaker domestic scrap market than anticipated as we move into February negotiations next week. A weaker scrap market, especially if it were to drop $35-$40 per gross ton would dampen price […] The post February Scrap Pricing Now Poised to Drop $20-$40 appeared first on Steel Market Update.
Are cracks starting to develop in the floor of steel prices? Are any cracks a harbinger to a reversal of flat rolled steel prices? It is too early to tell. However, buyers and sellers of steel need to be aware of that the markets may be in the early stage of change. Since the beginning […] The post Cracks Developing in the Steel Pricing Floor? 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 It has been an active week even with the CME closed for Martin Luther King Day. This past week we have […] The post Hot Rolled Futures: Active Week Despite MLK Day appeared first on Steel Market Update.
AK Steel and NLMK USA raised flat rolled steel prices by $40 per ton ($2.00/cwt) on all new spot sales of flat rolled steels (hot rolled, cold rolled, galvanized). At the same time, SMU understands that Steel Dynamics has opened their order books for February and are quoting prices that are approximately $40 per ton […] The post Steel Buyers Weigh in on Domestic Spot Price Increase Announcements appeared first on Steel Market Update.