Category: Prices

Steel Dynamics expects stronger profits in third quarter due to meaningful metal spread expansion. In the company’s third quarter guidance, SDI said higher steel pricing in Q3 will more than offset higher scrap prices, however, improved margins will be impacted by lower steel shipments across the product platform. Higher earnings for third quarter are driven […] The post SDI Flat Roll Operations Drive Stronger Profits for Q3 appeared first on Steel Market Update.

Scrap prices surprised scrap dealers and have deteriorated more than what was expected going into September negotiations with the domestic steel mills. Here is how one of the national scrap companies portrayed the tone of the negotiations: “As you can imagine, it’s been a hectic time since the return from the holiday last week.  As […] The post A Look at Midwest Scrap Pricing for September appeared first on Steel Market Update.

When speaking to one of the main ferrous scrap analysts in the industry our newsletter was paid a compliment when I asked if the scrap community was aware of our newsletter.  I was told, “They do already.  Many of them have a lot of confidence in your reports.  They refer to it more often then […] The post Final Thoughts appeared first on Steel Market Update.

The uncertainty in the market (called the “blahs” by a number of our steel sources) is affecting both buyers and sellers of steel. Steel mills have been doing all that they can in an attempt to keep flat rolled steel prices from slipping too far. One of our mill sources had a sense of humor […] The post Steel Mills Battle Market Blahs appeared first on Steel Market Update.

SMU scrap sources advised ferrous scrap prices have settled in Detroit with prime grades (Busheling and bundles) moving lower by $30 per gross ton and shredded scrap by $20 per gross ton. Dealers had been hoping that a slower flow of feeder stock into the yards coupled with stronger buying by long products mills might […] The post September Scrap Negotiations Continue as Detroit Settles Down $30 on Primes appeared first on Steel Market Update.

The following article on the hot rolled coil (HRC) and financial futures markets was written by Andre Marshall of Crunch Risk LLC. Here is how he  saw the financial markets as well as HRC and scrap trading over the past week: The Financial Blah Blah: The U.S has been the bright spot. Just look at […] The post Hot Rolled Futures: Here We Go Again! appeared first on Steel Market Update.

Ferrous scrap prices drifting lower by as much as $30 per gross ton (Detroit) on primes and $20 (Detroit) on shred will put some pressure on flat rolled steel spot prices in the coming weeks. Not all of the regions have settled prices and the dealers are resisting going down as much as what was […] The post Final Thoughts appeared first on Steel Market Update.

The prices for flat rolled steel have dropped over the past few weeks which is creating a situation where the domestic steel mills want to recoup a portion (or all) of the reductions by negotiating lower ferrous scrap pricing. The mills are asking for $20 per gross ton across the board (HMS, shred, prime grades) […] The post September Scrap Has Mills Pressuring Prices with Mixed Results Expected appeared first on Steel Market Update.

The following article on the hot rolled coil (HRC) and financial futures markets was written by Andre and Jack Marshall of Crunch Risk LLC. Here is how they  saw trading over the past week: Steel We traded 961 lots of hot rolled coil (HRC) futures in the week or 19,220 short tons (ST). With the […] The post Hot Rolled Futures: Fear Takes Hold appeared first on Steel Market Update.

The following article on the hot rolled coil (HRC) and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week: Steel HR futures prices are down over $10/ST Sep’16/Dec’17 over the last week, roughly in line with the different indexes being reported. SMU […] The post Hot Rolled Futures Trading More Briskly as Sellers Enter the Market appeared first on Steel Market Update.