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 Physical HR prices continue to decline at a steady pace. Spot indexes have declined almost $140/ST since the end of […] The post Hot Rolled Futures: Treading Water! appeared first on Steel Market Update.
Steel Market Update sources expect ferrous scrap prices to decline in June, following record high prices in March through May. Some expect prime grades to decline as much as $50 per gross ton from May, with obsolete grades down anywhere from $20-$50 per ton. “Markets are worsening by the day. It looks like there is continued […] The post Scrap Prices Expected to Decline $30-50/ton in June appeared first on Steel Market Update.
Editor’s note: Steel Market Update is please to share this Premium content with Executive members. For information on how to upgrade to a Premium-level subscription, email Info@SteelMarketUpdate.com. Following record price increases in March and April, prices for six of the seven steelmaking raw materials tracked in this SMU analysis declined over the last 30 days. […] The post Raw Materials Prices Ease in May appeared first on Steel Market Update.
With significant EAF capacity coming online over the next few years, the talk of a tight scrap market creating problems for the EAF community has been an ongoing concern. But Mark Millet, president and CEO of Steel Dynamics Inc., is not overly concerned. He says innovation is the key to overcoming this potential obstacle. Speaking […] The post SDI’s Millett: Innovation Will Resolve Scrap Supply Issues appeared first on Steel Market Update.
Editor’s note: Paul Lowrey did a presentation at the Tampa Steel Conference in February 2022 covering a range of industry issues. It was well received by the audience. and SMU asked him to do it again at Steel Summit 2022 with updates. This is an excerpt of his anticipated presentation. I’m approaching 30 years in […] The post Lowrey: It’s a Great Time To Be in the Steel Industry appeared first on Steel Market Update.
Steel Dynamics Inc. (SDI) has agreed to acquire Mexican ferrous and nonferrous scrap recycler Roca Acero SA de CV. The Fort Wayne, Ind.-based EAF steelmaker did not disclose the purchase price but said the deal would be paid for in cash. The agreement remains subject to customary closing conditions and regulatory approvals, SDI said. “We […] The post SDI Buys Mexican Scrap Recycler Roca Acero appeared first on Steel Market Update.
According to the latest Steel Market Update data, the spread between hot rolled coil prices and prime scrap prices has leveled out over the past eight weeks, after reaching an 18-month low in early March. The latest spread through May 10 is down compared to this time last year, but still higher than pre-pandemic spreads. […] The post HRC-Bush Spread Analysis: Peaking Out After March Rebound? appeared first on Steel Market Update.
Steel Market Update sources report ferrous scrap prices fell $75-100 per gross ton in May, following record high prices in March and April due to the war in Ukraine. Heavy melt (HMS) was down nearly $100 per gross ton, whereas shredded and busheling prices were down $75 per gross ton. “Demand is okay, but there’s just too much supply […] The post Scrap Prices Decline $75-100/Ton in May appeared first on Steel Market Update.
Steel Market Update sources report ferrous scrap prices fell $75-100 per gross ton in May, following record high prices in March and April due to the war in Ukraine. Heavy melt (HMS) was down nearly $100 per gross ton, whereas shredded and busheling prices were down $75 per gross ton. “Demand is okay, but there’s just too much supply […] The post Scrap Prices Decline in May appeared first on Steel Market Update.
Editor’s note: SMU Contributor David Feldstein is president of Rock Trading Advisors. Rock provides customers attached to the steel industry with commodity price risk management services and market intelligence. RTA is registered with the National Futures Association as a Commodity Trade Advisor. David has over 20 years of professional trading experience and has been active […] The post Ferrous Futures: Rangebound and Itching for a Big Move – Up or Down? appeared first on Steel Market Update.