Ferrous scrap prices most likely will move lower in July as scrap supplies are increasing at a greater pace than steel demand. Finished steel prices have shown some weakness lately as the market struggles to get back on track and are unlikely to get any help from scrap next month. Ferrous scrap prices rose $30-40 […] The post Ferrous Scrap Prices Likely Lower in July appeared first on Steel Market Update.
CRU analysts, speaking during a virtual version of their Annual New York Steel Briefing earlier today, said volatility is in the cards for steel pricing as demand increases and new EAF capacity comes online. CRU forecasts sheet consumption will fall 17.6 percent or 12.4 million metric tons year-over-year in 2020, and long and plate products […] The post CRU Forecasts Volatility for Steel Prices appeared first on Steel Market Update.
Why leave your employees in the dark? Last week we had one of our member companies upgrade to an Enterprise membership, and they added 429 of their employees to their account. Today, we had a steel mill ask to add another 100 people onto their existing account. From our inception, the goal of Steel Market […] The post Final Thoughts appeared first on Steel Market Update.
The following article on the hot rolled coil (HRC) steel and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week: Steel Uncertainty is leading to softer HR prices as optimistic forecasts are met by a slower than expected recovery process. A case […] The post Hot Rolled Futures: Uncertainty’s Leading to Softer Prices appeared first on Steel Market Update.
The term “sustainability” is most often associated with environmentalism. True to the word, U.S. Steel’s 2019 Sustainability Report details the steelmaker’s mission to reduce its global greenhouse gas (GHG) emission intensity by 20 percent over the next decade. But what makes a company’s success “sustainable” over the long term goes far beyond environmental considerations, said […] The post U.S. Steel’s “Sustainability” Efforts Go Beyond the Environment appeared first on Steel Market Update.
Raw materials prices have seen varying trends in the past month or two as the coronavirus has had varying effects on different commodities in different parts of the world. Iron ore prices have stayed relatively high due to strong demand in China, where COVID-19 restrictions have been eased. Virus-related disruptions to Brazilian mining operations have […] The post Raw Materials Prices: Iron Ore, Coking Coal, Pig Iron, Scrap, Zinc appeared first on Steel Market Update.
By CRU Prices Analyst George Pearson, from CRU’s Steel Monitor In the U.S. Midwest market this week, sheet prices were somewhat mixed with HR coil near steady w/w while HDG coil fell by $19 /s.ton to $650 /s.ton and CR coil inched up by $4 /s.ton to $697 /s.ton. Our full HDG coil price, reflecting […] The post CRU: European Steel Prices are Yet to Hit the Bottom appeared first on Steel Market Update.
By CRU Senior Analyst Ryan McKinley, from CRU’s Metallics Monitor The CRU metallics price indicator (CRUmpi) increased slightly in June, rising by 2.9 percent m/m to 208.3. The reduction in lockdowns and other Covid-19-related restrictions across the globe allowed scrap to become more readily available as demand increased in major importing markets. In the near term, we […] The post CRU: Easing of Lockdowns Stabilizes Global Scrap Prices appeared first on Steel Market Update.
Ferrous scrap prices, which were widely expected to move higher again in June, traded “mostly sideways” as supplies increased while demand continued to lag, report Steel Market Update sources. In May, ferrous scrap prices settled up $30 per ton for shredded and up $40-50 per ton for busheling as coronavirus shutdowns disrupted scrap generation and […] The post Ferrous Scrap Prices Move “Mostly Sideways” in June appeared first on Steel Market Update.
We had a good webinar with Lewis Leibowitz yesterday (Wednesday). Our next SMU Community Chat webinar will be held next Wednesday, June 10, and our featured guest speaker will be James Banker, Jr., Executive Vice President, NLMK USA. Banker will be the first steel mill to participate in one of our webinars. Jim has a […] The post Final Thoughts appeared first on Steel Market Update.