TSI Iron Ore: Market Remains Firm Iron ore prices have continued to be strong as Rebar futures have bounced off recent months lows last week and spot steel in China continues to go higher. Over the past couple of weeks iron ore prices have pushed up around $5/ton down the curve with Q1 trading around […] The post Iron Ore & Scrap Futures Firming appeared first on Steel Market Update.
CHICAGO, IL – November 6, 2013 SMS Mill Services Michigan, LLC (SMS) is pleased to announce that it has been awarded a steel slab conditioning services agreement with Severstal North America (SNA) at its Dearborn, Michigan operation. With engineering already in process, SMS will provide infrastructure, equipment and personnel to fully scarf (skin), cut to […] The post SMS Awarded Slab Conditioning Services Agreement with Severstal NA appeared first on Steel Market Update.
According to Steel Market Update (SMU) sources scrap prices are headed higher for the month of November delivery into the domestic steel mills. Early reports have Detroit settling up $30 per gross ton on all grades. We have also heard shred prices are up $30 per gross ton in the Cleveland and Pittsburgh markets and […] The post Early Reports Have Shredded Scrap up $30 in Detroit, Pittsburgh, Cleveland appeared first on Steel Market Update.
The inputs which affect steel prices increased slightly during the month of September with the exception of shredded scrap and 58% Fe Iron Ore prices. Busheling and HMS scrap prices increased by $3 to $5 per ton in the Midwest. Iron ore spot pricing – which is measured out of China – showed one product […] The post Input Costs Affecting Pricing, Iron Ore, Scrap, Zinc and Aluminum appeared first on Steel Market Update.
Our ferrous scrap sources are advising Steel Market Update to expect a minimum of $20 per gross ton increase in scrap prices as we head into the month of November mill buys. We are finding there is some weakness being exhibited on the east coast with the Claymont plate mill being shut down by Evraz, […] The post Anticipated November Scrap Pricing May Push Flat Rolled Pricing Higher appeared first on Steel Market Update.
Commercial Metals Company reported earnings of $4.1 million on net sales of $1.7 billion for its FY 2013 fourth quarter (ending August 31, 2013). Net earnings included an asset impairment charge of $25.9 million related to its Australian operation. In comparison, CMC reported net earnings of $30.2 million in fourth quarter 2012. CMC net earnings […] The post CMC Reports 8th Consecutive Quarter of Positive Earnings appeared first on Steel Market Update.
TSI Iron Ore: Market Soften As Rebar Slides Iron ore prices have been fairly volatile over the past week as conflicting data and information coming out of China as moved the needle in opposite directions. The upshot to all of this intraday volatility is that prices remain fairly unchanged on a week-on-week basis. With rebar […] The post Iron Ore and Scrap Futures: Busheling Higher – Ore Softens appeared first on Steel Market Update.
CHARLOTTE, N.C., Oct. 7, 2013 — Nucor Corporation NUE +0.08% announced that The Steel Manufacturers Association (SMA) presented Nucor’s Executive Chairman Dan DiMicco with its Iverson-Selig award, recognizing his outstanding contributions to the minimill steel industry. The award is named after Nucor’s founder Ken Iverson and Marvin Selig, founder of CMC Steel, who were two […] The post Dan DiMicco Receives SMA Award appeared first on Steel Market Update.
In a normal ferrous scrap market the first deals done at the beginning of the month are usually those with the best pricing. The month of October is turning out to be one of the exception months as many dealers rejected the preliminary lower offers and managed to trade steel scrap at the same numbers […] The post October Scrap Prices Firm Up as Week Progressed appeared first on Steel Market Update.
TSI Iron Ore: Market Quiet During Chinese Golden Week… Iron ore prices have remained steady over the past week as the Chinese have been off for their Golden Week holiday. Demand while steady appears to be seen as fragile by many. The market remains in backwardation with prices down the curve continuing to trade at a […] The post Iron Ore, Scrap Futures – Ore Quiet Due to Holiday – Scrap Climbs appeared first on Steel Market Update.