Nucor Corp. has taken a planned outage at is direct-reduced iron (DRI) plant in Trinidad. “As it’s planned, we do not anticipate any impact on production,” a spokeswoman for the Charlotte, N.C.-based steelmaker said. Nucor did not specify when the Trinidad outage started or how long it might last. The issue will probably be discussed […] The post Nucor Takes Planned Outage at Trinidad DRI Plant appeared first on Steel Market Update.
When the books are written on a historic year for steel prices, we will probably look back at August and September as the months when things started falling apart. Why? Because that’s when the extraordinay gaps – between U.S. steel prices and those abroad, between steel prices and scrap prices, and between market senitment and […] The post Final Thoughts appeared first on Steel Market Update.
As “the next precious metal,” prime scrap is a growth opportunity and a logical fit for Cleveland-Cliffs, which announced Monday that it plans to acquire Detroit-based Ferrous Processing and Trading Co. (FPT). The $775-million deal, Cliffs’ first foray into scrap, comes as no big surprise to most market observers. Cleveland-Cliffs is the largest producer of […] The post Market Reaction: Cliffs’ Deal for FPT Could Shift Scrap Flows appeared first on Steel Market Update.
Cleveland-Cliffs Inc. has agreed to acquire Midwestern scrap recycler Ferrous Processing and Trading Co. (FPT) for $775 million. The deal means the Cleveland-based steelmaker has secured its own reserves of prime scrap, which Cliffs Chairman, President and CEO Lourenco Goncalves has previously characterized as a “precious metal.” FPT recorded earnings before interest, taxes, depreciation and amortization […] The post Cliffs Enters Scrap in a Big Way with $775M Deal for FPT appeared first on Steel Market Update.
Cleveland-Cliffs Inc. has agreed to acquire Midwestern scrap recycler Ferrous Processing and Trading Co. (FPT) for $775 million. The deal means the Cleveland-based steelmaker has secured its own reserves of prime scrap, which Cliffs Chairman, President and CEO Lourenco Goncalves has previously characterized as a “precious metal.” FPT recorded earnings before interest, taxes, depreciation and amortization […] The post Cliffs Enters Scrap in a Big Way with $775M Deal for FPT 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 hot rolled futures market was interesting this week as a strong reported decline in spot HR prices surprised many. The […] The post Hot Rolled Futures: Market Pauses to Read the Tea Leaves appeared first on Steel Market Update.
The David J. Joseph Co. (DJJ) has acquired two recycling operations that are expected to increase its capacity by 10%, parent company Nucor Corp. said. DJJ’s deals – terms of which were not disclosed – will support the Charlotte, N.C.-based steelmaker’s growth strategy and increase its ability to secure scrap for its electric arc furnace (EAF) […] The post DJJ Acquisitions to Boost Scrap Capacity by 10% as Nucor Expands Mills appeared first on Steel Market Update.
Schnitzer Steel Industries, Inc., expects to deliver its best fiscal fourth quarter operating performance since 2011 thanks to high prices and strong demand for both ferrous and nonferrous scrap, as well as strong demand for finished steel products. The Portland Ore.-based scrap recycler and long steel producer announced preliminary results for its fourth quarter and […] The post Schnitzer Expects Best FYQ4 Results in a Decade appeared first on Steel Market Update.
By CRU Senior Editor Ryan McKinley, from CRU’s Steel Sheet Products Monitor Sheet prices outside of the USA fell markedly this week as demand declines and inventories build. The largest of these declines occurred in Europe, as lower-priced imports forced Italian domestic prices to fall below the €1,000 /t mark for the first time since […] The post CRU: Price Declines Outside of the USA Accelerate appeared first on Steel Market Update.
Price dynamics in the steel market are starting to resemble an inverted yield curve, and market participants should treat the situation with appropriate caution. Plate mills and tube producers have announced significant price increases: $75 for tubular products ($3.75 per cwt), $80 per ton for plate and as much as $240 per ton for quenched and […] The post Final Thoughts appeared first on Steel Market Update.