Category: Market

Schnitzer Steel Industries Inc. said its fourth quarter ended Aug. 31 results were negatively impacted by declining ferrous and nonferrous sales prices and demand. The trend partially offsets the benefits of strong prices for its finished steel products. Tighter supply flows and an extended outage at its Everett, Mass., recycling facility were partly to blame […] The post Schnitzer: Near Record Annual Results Despite Falling Prices appeared first on Steel Market Update.

Turkish scrap market has turned quiet again after some purchases in mid-October. We heard three fresh deals completed in , which slightly lifted our assessment to $372 /t CFR (+$4 /t w/w, +$28 /t m/m). Scrap prices(1) $/t23-Sep30-Sep07-Oct14-Oct21-OctHMS 1/2 80:20 CFR Turkey344365368368372Shredded CFR Turkey364385388388392Notes: (1) weighted average of known transactions from all points of origin. Persistent […]

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 HR spot physical indexes have remained anchored just above the mid-$700/net ton area with one more week to go before the […] The post HR Futures: Indecision Remains with Neutral to Bearish Sentiment appeared first on Steel Market Update.

A strong performance from its steel fabrication operations offset lower earnings within its flat rolled steel business, resulting in another strong quarter for Steel Dynamics Inc. The Fort Wayne, Ind.-based steelmaker and recycler reported net income of $914 million on sales of $5.65 billion in the third quarter ended Sept. 30. While sales were 11% […] The post SDI’s Q3 Results Helped by Steel Fabrication Segment appeared first on Steel Market Update.

Turkish scrap import prices unchanged w/w Last week, Turkish scrap prices remained stable at $368 /t CFR (+$0 /t w/w, +$19 /t m/m) in an absence of fresh deals. Both finished steel (export) and scrap (import) prices were mostly stable in the past week as industry convened for the Irepas conference during 9-11 October, while […]

By CRU Senior Analyst, Puneet Paliwal, from CRU’s Scrap, DRI/HBI & Pig Iron Monitor Global scrap prices stay subdued while those of ore-based metallics have found some support. Overall metallics demand continues to be hampered by the steel market weakness, a trend which may sustain through the short term, particularly in Europe. The CRU metallics price […] The post CRU: Metallics Prices Have Not Yet Bottomed appeared first on Steel Market Update.

The relationship between hot-rolled coil (HRC) and prime scrap prices has stabilized in the last few weeks, according to Steel Market Update data. After briefly stalling in August, hot rolled prices have began to slide downwards again since the beginning of this month. Busheling scrap prices settled at down $45 per gross ton last week, the […] The post Hot Rolled vs Scrap Price Spread Stabilizes appeared first on Steel Market Update.

Time for a contrarian, optimistic thought experiment. First the bad news: Sentiment is increasingly bearish on months of falling steel and scrap prices, nearly all respondents to our latest survey report that mills are willing to negotiate lower still, and flattish lead times provide paltry evidence for a rebound. A quick check of the headlines […] The post Final Thoughts appeared first on Steel Market Update.

H2 Green Steel (H2GS) is partnering with Midrex Technologies for its new direct reduced iron (DRI) facility in northern Sweden.  Using Midrex’s technology, H2GS’s 2.1-million-metric-tons-per-year facility will run on 100% green hydrogen. Paul Wurth, an SMS group company, will also provide technology and equipment for the first-of-its-kind DRI plant. “We started working together almost two […] The post H2 Green Steel Partners with Midrex, Gets Funding from Kobe Steel appeared first on Steel Market Update.

Steel Market Update sources report that ferrous scrap prices fell again in October. The drop marks the sixth consecutive month of declining scrap tags. Prime scrap prices fell an average of $45 per ton, while obsolete grades were relatively flat to down $25.  Scrap sources attributed falling prices to weakening demand on both the domestic and […] The post Scrap Prices Fall Again in October on Outages, Global Gloom appeared first on Steel Market Update.