Category: Market

Keynote speaker Paul Lowrey presented at the SMU Steel Summit Conference today, explaining his market thoughts through data on US steel market capacity, steel mill consolidation, and the scrap market. As president of Steel Research Associates (SRA) with a career spanning 30 years, Lowrey opened his segment explaining, “I’ve been labeled by some as a […] The post Paul Lowrey: It’s a Great Time to Be in the Steel Industry appeared first on Steel Market Update.

The transformation the steel industry has undergone has been accelerated over the past 18-24 months, with even greater dynamics underway, said a panel of steel executives and analysts during the first day of Steel Market Update’s 2022 Steel Summit conference in Atlanta, Ga. Demand trajectories across regions are diverging, finished steel consumption in China is […] The post The Global Steel Industry: A Reshaping is Underway appeared first on Steel Market Update.

Turkish scrap import prices increased w/w Turkish scrap slightly edged higher to $395 /t CFR for HMS 1/2 80:20 (+$3 /t w/w, -$11 /t m/m). Market activity has picked up after the initial price increase, and we heard five deals ranging from $387 /t to $402 /t CFR Turkey for HMS 80:20. Scrap prices(1) $/t22-Jul29-Jul05-Aug12-Aug19-AugHMS 1/2 […]

US plate prices edged down marginally this week, declining for the third straight week. The easing was driven by a tightening of the range, though sources feel pricing has flattened. The repeated declines are not exactly a surprise given plate prices have been holding an unsustainable premium over coil, while buying remains strategic and mainly hand-to-mouth. […] The post Plate Market Report: Prices Down Marginally, Demand Unchanged 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 Weekly changes in the value of spot HR have continued to drop an average of about $30/net ton but it should […] The post Hot Rolled Futures: Peak Summer Pause? appeared first on Steel Market Update.

The Trinidad and Tobago government has outlawed the shipping of most scrap steel and copper abroad for, provisionally, six months to tackle the theft of infrastructure. Telcom TSTT and water company WASA have been worst hit, with service to customers affected. The prohibition is intended to be short term while the government devises a legislative […]

Though longer term market fundamentals remain good, global metal recycler Sims Limited says significant volatility makes the short-term outlook uncertain. “Aggressive interest rate rises to combat rapidly increasing inflation have reduced the demand for steel, copper and aluminium, and therefore the demand for recycled metal,” the Australia-based company said in commentary accompanying release of its […]

Turkish scrap import prices increased w/w Last week, Turkish scrap prices rose sharply on three new deals from western Europe and North America, lifting our assessment for HMS 1/2 80:20 to $392 /t CFR (+$40 /t w/w, -$14 /t m/m). Scrap prices(1) $/t15-Jul22-Jul29-Jul05-Aug12-AugHMS 1/2 80:20 CFR Turkey406406365352392Shredded CFR Turkey426426385372412Notes: (1) weighted average of known transactions from […]

North Star BlueScope is “substantially complete” with a $700 million expansion that will provide the Delta, Ohio, EAF sheet mill with additional annual capacity of nearly 950,000 short tons (850,000 metric tonnes). The mill produced the first coil from its expansion in June and has begun the 18-month process of ramping up the facility to […] The post BlueScope Cranking Up North Star HRC Expansion, Eyeing CR and Coated appeared first on Steel Market Update.

The spread between hot-rolled coil (HRC) and prime scrap prices continues to narrow, according to Steel Market Update data. Busheling scrap prices have declined each of the last four months, as have hot-rolled prices – but at a greater rate than scrap. The result: a shrinking delta between the two products. The latest spread is one-third what […] The post Hot Rolled vs Scrap Price Spread Narrows appeared first on Steel Market Update.