Category: Market

Sims Metal Management, a metals and electronics recycler headquartered in Australia, announced North American results for FY 2013 ending June 30, 2013. Underlying EBITDA for North American operations rose 30 percent year-over-year to $102.3 million. (Underlying EBITDA is a measure of the actual profits realized by a company used for business process planning, rather than […] The post Sims Reports Lower Results for FY 2013 appeared first on Steel Market Update.

We have been receiving a number of calls and emails regarding our Steel Summit Conference.  Seems like we are disappointing a large number of people by not producing the conference this year. We will make up for it next year. Early indications for September is for shredded scrap to drift another $10 per gross ton […] The post Final Thoughts appeared first on Steel Market Update.

U.S. Midwest #1 Busheling Ferrous Scrap (AMM) Typically Quiet Mid-Month Market While the HRC futures market is experiencing a summer lull, the AMM Busheling contract has been virtually non-existent the past few weeks. After the physical market for busheling priced sideways this month the futures market has not reacted. It seems that the usual pattern […] The post Iron Ore & Scrap Futures appeared first on Steel Market Update.

Written by: Brett Linton June ferrous scrap exports totaled 1,405,041 metric tons (1,548,791 net tons) with Turkey, Taiwan, South Korea, Vietnam, and Egypt being the top five countries where scrap was sent. Exports to most of the big players in the market, with the exception of Taiwan, South Korea and Vietnam, dropped dramatically from the […] The post June Ferrous Scrap Exports Down Across the Board appeared first on Steel Market Update.

From Steel Market Update perspective there are a number of keys to watch during the month of August:   •    Scrap prices: Shredded scrap prices are forecast to be down $10-$20 per gross ton due to oversupply.  Other scrap grades such as cut grades and prime are forecast to be sideways to down $5 per […] The post August Keys to Staying Ahead of the Curve appeared first on Steel Market Update.

By John Packard On Saturday, Upstate Shredding held an open house for their new Port of Albany, New York recycling and shipping facility.  What makes this one special is that the scrap operation sits on water which will provide the company with access to barge shipments to customers such as Nucor as well as ocean […] The post Upstate Shredding Port of Albany Facility Takes Aim at Export appeared first on Steel Market Update.

Written by: Bradley Clark, Director of Steel Trading, Kataman Metals TSI Iron Ore: Prices Up, Up and Away… Iron Ore over the past few weeks remains a true bright spot in the commodities complex as stronger than expected summer steel demand in China has driven prices to highs not seen in months and monthly shipments […] The post Iron Ore & Scrap Futures: Up, Up and Away and Firm in a Sideways Market appeared first on Steel Market Update.

Written by: Bradley Clark, Director of Steel Trading, Kataman Metals The HRC futures market has been exceptionally quiet over the past few weeks with almost no volume trading as the recent price hikes, uncertainty of pricing going forward and middling futures pricing has led most traders to sit on the sidelines awaiting the next price […] The post Hot Rolled Futures Hold Steady in the Face of an Uncertain Physical Market appeared first on Steel Market Update.

Written by: John Packard Chicago area scrap deals were lower on shred and basically sideways on #1 HMS and #1 Busheling according to SMU sources as of today.    #1 heavy melt was put at $351-$355 per gross ton. Shredded Scrap was put at $366 per gross ton. #1 Busheling was reported to be sideways […] The post Chicago Area Scrap Settles Down $10 on Shred – Primes Move Sideways appeared first on Steel Market Update.

One of our scrap sources – a Northeast based shredding company – reported sales to one of the mill scrap brokerage companies with two sales on shredded scrap.  One 35,000 ton lot at down $20 per gross ton shipping by rail, a second lot of shred sold down $15 per gross ton to ship by […] The post U.S. Scrap Prices “Sloppy” as Mills Buy at Lower Levels appeared first on Steel Market Update.