Category: Market

The cost and scope of Steel Dynamics Inc.’s flat-rolled aluminum mill in Columbus, Miss., and related scrap processing operations, have increased. The total cost of the project is now expected to be $2.5 billion, up from an initial $2.2 billion, SDI chairman, president, and CEO Mark Millett said during the quarterly earnings call last week. […] The post SDI Aluminum Mill Set to Cost Up to $2.5B, Mid ’25 Startup Slated appeared first on Steel Market Update.

The spread between hot-rolled coil (HRC) and prime scrap prices has remained relatively flat vs December levels, according to Steel Market Update data. Prices for both products rose in January vs. the end of 2022.  Our hot-rolled coil price average ticked up $5 per ton week over week to $740 per net ton ($37.00 per cwt) as […] The post Hot Rolled vs. Prime Scrap Price Spread Holds Steady appeared first on Steel Market Update.

SSAB Americas has announced plans to increase plate prices by at least $60 per ton ($3 per cwt). The price hike applies equally to as-rolled, normalized, quenched-and-tempered, and wide cut-to-length plate products. It is effective immediately on all new, non-contract orders confirmed to ship the week of March 5 or later, the company said in […] The post SSAB Aims to Raise Plate Tags by at Least $60/ton appeared first on Steel Market Update.

Let’s just clear the air of any confusion here. It looks like Nucor’s price increase – $50 per ton ($2.50 per cwt) – announced earlier this week was a catch-up to an increase of the same amount announced by Cleveland-Cliffs in mid-December. Assuming that’s the case, we’ve had two rounds of price increases since Thanksgiving. […] The post Final Thoughts appeared first on Steel Market Update.

Scrap market prices increased in January month over month on poor flows in December and surging export demand, according to scrap executives. “Obsolete flows are down seasonally, and export prices have shown dramatic increases over the last month,” one scrap executive said.   He said Detroit mills entered the market last week at prices up $60 per gross […] The post Scrap Prices Rise Boosted by Export Demand appeared first on Steel Market Update.

 By now, anyone who works in the steel industry understands how important sustainability is. Steel is the most recycled material in the world, and recycled steel is a prominent ingredient in electric-arc furnace (EAF) steelmaking. Steel Market Update’s final Spotlight of 2022 gets into sustainability with Philip Bell, president of the Steel Manufacturers Association (SMA), […] The post SMU Spotlight: Phil Bell Talks Sustainability appeared first on Steel Market Update.

Turkish scrap import prices increase w/w Turkish scrap prices have been rising consistently since the end of 2022 and into the first week of 2023. Last week, we were reported two confirmed deals at the level of ~$396 /t for HMS 80:20, which were closed at the end of December. Since then, a total of […]

Steel mills are less willing to negotiate prices as we enter into the new year. With the exception of Galvalume, all of the products SMU surveyed remained more fixed in price compared with the last market check two weeks ago, and a far cry from early November of last year.  In fact, the plate market […] The post Steel Mills Continue to Balk at Negotiating Lower Tags appeared first on Steel Market Update.

The following article on the hot-rolled coil (HRC), scrap and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week: Hot Rolled Hot-rolled futures have pushed higher in year-end thin trading. December daily futures trading volumes hovered around 19,000 short tons (ST) per […] The post HR Futures: Will Demand Support the Latest Price Push? appeared first on Steel Market Update.

Sheet prices entered 2023 moving upward on expectations of higher prime scrap prices, and on a modest uptick in activity as some buyers looked to get ahead of anticipated higher steel prices as well.  The gains also came on the heels of a price increase of $50 per ton ($2.50 per cwt) initiated last month […] The post SMU Price Ranges: Sheet Starts ’23 Moving Up appeared first on Steel Market Update.