Category: Market

According to SMU sources, last week ArcelorMittal USA raised the minimum selling price on secondary grades of steel to approximately $500-$520 per ton ($25.00/cwt-$26.00/cwt). This has caused some concern within the industry with one fabricator who has been involved with secondary steel for the past 15 years reporting to Steel Market Update, “…I have been […] The post Steel Mills Push to Get Higher Secondary Price Minimums appeared first on Steel Market Update.

April ferrous scrap exports totaled 1,476,282 net tons (1,339,262 metric tons) with Turkey, Taiwan, Korea, Mexico, and China being the top five importing countries. These countries accounted for 73.2 percent of all scrap exports. Total April ferrous scrap exports were 0.7 percent higher than previous month and 36.7 percent higher than the same month one […] The post April Ferrous Scrap Exports Up 36.7% appeared first on Steel Market Update.

The past few weeks have been dire for the futures market in terms of volumes or price volatility. While the physical market has peaked for now, the futures market remains in a strong backwardation with prices for second half the year and calendar year 2015 stuck between 620-630 per ton. While the global picture, particularly […] The post Hot Rolled Futures Prices Range Bound appeared first on Steel Market Update.

We have been working on trying to get a handle on scrap prices and adjustments in the costs the domestic steel mills will have for scrap during the month of June. SMU sources advised us that with the exception of prime grades of scrap most mills cancelled their remaining orders at the end of the […] The post Shredded Scrap Was Weakest Grade in June Trading appeared first on Steel Market Update.

Ferrous scrap negotiations have begun between the U.S. and Canadian steel mills with most mills expecting lower prices. One way we know if the mills believe prices will fall is they will cancel any remaining orders from May that have not yet been completed from their scrap suppliers in the hopes of being able to […] The post Scrap Pricing Floor May Hinge on Turkish Buying appeared first on Steel Market Update.

Ferrous scrap price negotiations are beginning with at least one deal getting done in Detroit within the past few days at down $22 per gross ton. However, as one scrap dealer explained to us earlier today, scrap prices are all over the board. There are steel mills who are bringing furnaces back online and others […] The post Early Ferrous Scrap Indications are Down $5 to $22 per ton appeared first on Steel Market Update.

The past couple of weeks have been a bit brutal for the US hot rolled coil (HRC) forward curve. While the spot market is appearing to run out of steam the HRC forward curve has broken down particularly the second half 2014 periods and calendar 2015 periods.  May and June have withstood this recent selling […] The post Hot Rolled Futures: Prices Breakdown… appeared first on Steel Market Update.

Iron ore spot prices in China have been falling and may continue to decline to the lows last seen in September 2012 when prices for 62% Fe fines reached into the $80’s (currently trading at $97.5/dmt). Steel Market Update has been reviewing the relationship between iron ore and ferrous scrap prices using shredded scrap as […] The post Iron Ore Prices Slip Will Scrap Prices Follow? appeared first on Steel Market Update.

The finished steel stockists have been buying finished products the last two weeks.   However, the stockists are still keeping very little inventory on a wait and see mode due to the iron ore price collapse (currently abt $102/dmt).   The current finished product orders should keep the production smooth for the next 3 weeks in China. […] The post Electricity Curtailments Impacting Asian Scrap Markets appeared first on Steel Market Update.

U.S. and Canadian steel mills continue to keep a firm grip on pricing as supply (production) related problems keep lead times extended on most products. We are seeing the impact of foreign galvanized and Galvalume imports influencing at least one coated steel mill in the South. Domestic buyers appear to be accepting the higher prices […] The post SMU Price Ranges & Indices: Sideways But Firm appeared first on Steel Market Update.