Turkish scrap import prices unchanged w/w The Turkish scrap market was again inactive last week as our assessment remained unchanged at $339 /t CFR for HMS 1/2 80:20 (+$0 /t w/w, -$33 /t m/m) due to a lack of new deals. Scrap prices(1) $/t 28-Oct 04-Nov 11-Nov 18-Nov 25-Nov HMS 1/2 80:20 CFR Turkey 372 348 […]
The government of Trinidad and Tobago will lift the prohibition on foreign shipments of steel scrap by 31 December. But the ban on in-demand copper will remain. The measures were introduced in August to provisionally last six months to tackle the theft of infrastructure, notably copper and fibre optic cables from telcom TSTT which left […]
SMU’s sheet prices slipped again this week. But some market participants predicted that sheet was at or near a bottom. The anticipation of that bottom appeared to pull some big buyers off the sidelines. Large purchases from some pulled the low end of our hot-rolled coil range below $600 per ton ($30 per cwt) and […] The post SMU Price Ranges: Big Buyers Jump in Hoping for Floor appeared first on Steel Market Update.
Turkish scrap import prices decreased w/w Last week, Turkish scrap prices dropped on a deal from the USA. Our assessment fell to $339 /t CFR for HMS 1/2 80:20, down by $11 /t w/w and $33 /t m/m. The downward movement in the scrap market is mainly due to the stagnant state of the finished […]
The spread between hot-rolled coil (HRC) and prime scrap prices has begun to narrow again after three months of stability, according to recent Steel Market Update data. Prices for both products continue to move lower, as they have most weeks since May. The latest HRC-prime spread is exactly one-fourth of what it was this time […] The post Hot Rolled vs Prime Scrap Spread at 26-Month Low appeared first on Steel Market Update.
By CRU Research Analyst Aaron Kearney-Keaveny, from CRU’s Steelmaking Raw Materials Monitor The CRU metallics price indicator (CRUmpi) for November fell by 3.5% month-on-month (MoM), to 298.3, which is the lowest level since December 2020. Global scrap demand continues to be undermined by weak steel market fundamentals in key markets. Over the past few months, […] The post CRU: Scrap Prices Continue Fall, Decouple From Other Metallics appeared first on Steel Market Update.
Prices of steelmaking raw materials moved in differing directions over the last 30 days, as they did the month prior, according to Steel Market Update’s latest analysis. Through the latest data available as of Nov. 16, pig iron and aluminum increased 7% in the last month, coking coal prices rose 6%, and zinc prices increased 4%. […] The post Steelmaking Raw Material Prices Update: Some Up, Some Down 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 The indicated value of HR spot has declined roughly $31 per short ton ($687/ST to $656/ST) this month. For comparison purposes, […] The post HR Futures: Shifting Expectations in Forward Curve Prices appeared first on Steel Market Update.
Is this the week that prices bottomed, or do we still have room to fall? If you think ~$600 per ton ($30 cwt) is the bottom, you might point to some positive big-picture developments: strong energy prices, moves by China to prop up its property sector, or the weakening of the US dollar. You might […] The post Final Thoughts appeared first on Steel Market Update.
Ferrous scrap prices declined from October to November, marking the seventh consecutive month of falling prices, according to Steel Market Update sources. Buyers reported prime scrap fell as much as $30 per gross ton in some regions, while shredded prices were flat to down $20 per gross ton. Sources continue to attribute price declines to […] The post November Scrap Prices Slide by $10-30/Ton appeared first on Steel Market Update.