There are specific reasons for the tightness of supply that exists in the market today. Events have been in motion for the past 25 years that have culminated in the limitations of supply. For those of you who have attended SMU Steel Summit Conferences you may recall a presentation done by Paul Lowrey, Managing Director […] The post Final Thoughts appeared first on Steel Market Update.
Given the heightened urgency to reduce carbon emissions and address climate change, nearly all the world’s automakers plan to replace at least some of the internal combustion cars and trucks in their lineups with fully electric vehicles (EVs). GM, notably, has pledged to introduce 30 new EVs by 2025 and to produce nothing but EVs […] The post What Does the Trend Toward Electric Vehicles Mean for Steel? appeared first on Steel Market Update.
Given the heightened urgency to reduce carbon emissions and address climate change, nearly all the world’s automakers plan to replace at least some of the internal combustion cars and trucks in their lineups with fully electric vehicles (EVs). GM, notably, has pledged to introduce 30 new EVs by 2025 and to produce nothing but EVs […] The post What Does the Trend Toward Electric Vehicles Mean for Steel? appeared first on Steel Market Update.
Schnitzer Steel tripled its net income from first to second quarter FY 2021 to $46 million, supported by robust revenues of $600 million. Strong demand for recycled metals, higher finished steel prices and elevated scrap pricing resulted in expanded metal spreads and operating margins. Net income per ferrous ton increased to $47 from $14 per […] The post Schnitzer Earnings Soar on High Scrap Prices 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 limited availability of hot rolled steel on the spot market continues to dictate higher prices, and in turn has […] The post Hot Rolled Futures: Price Expectations Ramp Up 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 Hot rolled futures markets have taken a pause from the high velocity upward price moves of last month and the […] The post Hot Rolled Futures: A Price Pause? 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 Hot rolled futures markets have taken a pause from the high velocity upward price moves of last month and the […] The post Hot Rolled Futures: A Price Pause? appeared first on Steel Market Update.
Among steelmaking raw materials, the prices of pig iron, shredded scrap, busheling scrap and aluminum rose again in March on top of large gains in previous months. Prices increased as much as 14% month-over-month for those four products. Iron ore prices are slightly down compared to levels one month prior, while coking coal prices have […] The post Raw Materials Prices: Iron Ore, Coking Coal, Pig Iron, Scrap, Zinc appeared first on Steel Market Update.
Steel Dynamics Inc. forecast higher first- and second-quarter results, fueled by strong shipments and record steel prices, according to guidance issued Wednesday. “First-quarter 2021 profitability from the company’s steel operations is expected to be significantly higher than sequential fourth-quarter results, driven by flat roll metal spread expansion, as strong demand continues to support flat roll steel prices,” […] The post Steel Dynamics Reports Strong Momentum in First Quarter appeared first on Steel Market Update.
U.S. electric-arc furnace mills have a leg up on the world when it comes to meeting new carbon emissions standards–for now, said CRU Senior Analyst Ryan Smith. That’s according to a “carbon curve” Smith presented that is part of CRU Group’s Emissions Analysis Tool. The carbon curve is similar to the cost curve many steel […] The post U.S. EAFs Have Head Start in Race to Go Green: CRU’s Smith appeared first on Steel Market Update.