Category: Market

US plate prices edged down again this week after seeing their largest decline in nearly five years the week prior. The latest declines are not exactly a surprise given plate prices had been holding an unsustainable premium over coil and buying has been largely hand-to-mouth. But the straw that broke the camel’s back might just […] The post Plate Market Report: Prices Slip Again, Direction Still Not Clear appeared first on Steel Market Update.

Steel Market Update sources report ferrous scrap prices declined as much as $70 per gross ton from July to August, the fifth consecutive month of declines since March–April’s record high prices. Prime scrap fell by $70 per ton from the month prior, while obsolete grades declined $15–40 per ton. For the first time since late-2020, […] The post Scrap Prices Drop in August, With Bush Near Shred Is Bottom Near? appeared first on Steel Market Update.

Turkish scrap prices continued to edge lower, down to $352 /t CFR HMS 1/2 80:20 (-$13 /t w/w, -$54 /t m/m) based on the latest deal from the US. Scrap prices(1) $/t08-Jul15-Jul22-Jul29-Jul05-AugHMS 1/2 80:20 CFR Turkey406406406365352Shredded CFR Turkey426426426385372Notes: (1) weighted average of known transactions from all points of origin. The activity in Turkish finished steel and […]

Schnitzer Steel Industries Inc. is shaking things up. The Portland, Ore.-based recycler and steelmaker has appointed Richard Peach to serve as its executive vice president and chief strategy officer, an expanded role. Peach previously acted as the company’s executive vice president, chief financial officer, and chief strategy officer. Schnitzer has also appointed Stefano Gaggini, currently […] The post Schnitzer Expands Strategy Role, Names New CFO appeared first on Steel Market Update.

Turkish scrap import price dropped to $365 /t for HMS 80:20 following low market activity for two consecutive weeks and weak finished steel market fundamentals. Competitive Russian billet offers have also put downward pressure on scrap demand and prices. Market participants expect this lack of demand to continue in August, which could see prices of […]

US plate prices were largely unchanged this week, but probably not for long now that Nucor has significantly lowered plate prices with the opening of its September plate order book. The move came after Nucor in early July kept prices flat with the opening of its August order book. Discrete plate prices, as well as prices […] The post Plate Market Report: Is There a Chink in the Price Armor? 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 HR futures market has been somewhat subdued this month, which is reflected in the price changes for July. Over the […] The post Ferrous Futures: Treading Water This Summer appeared first on Steel Market Update.

Steel Market Update sources expect ferrous scrap prices to weaken further in August, potentially registering the fourth consecutive month of declines since March and April’s record high prices. Obsolete grades are anticipated to decrease around $30 per gross ton over July, while prime scrap is expected to ease marginally. “Despite what I think is slightly […] The post August Scrap Prices Expected to Slightly Weaken appeared first on Steel Market Update.

Prices for all seven of the steelmaking raw materials tracked in this SMU analysis declined over the last 30 days, receding further from record-high levels seen in March and April. Through the latest data available as of July 27, coking coal prices decreased 56% compared to one month prior, pig iron and busheling scrap prices […] The post Raw Materials Prices Decline Further Through July appeared first on Steel Market Update.

Steel made by US electric arc furnace (EAF) producers emits 75% less carbon than steel produced by traditional blast furnace-based production. That’s according to an independent study conducted by Steel Market Update parent company CRU Group for the Steel Manufacturers Association (SMA). The results of that study were released today. Washington, D.C.-based SMA represents the […] The post SMA Study Conducted by CRU Finds US EAFs Emit 75% Less Carbon appeared first on Steel Market Update.