Category: Prices

SMU Sources are advising us that obsolete grades of ferrous scrap are trading sideways (prices remaining the same as last month) while prime grades move lower by $10 to $15 per gross ton in the Chicago, Ohio Valley, Detroit and Indiana markets. Prior to negotiations beginning, the expectation was for obsolete grades to remain intact […] The post Ferrous Scrap Trading Sideways on Obsolete to Down $10-$15 on Primes appeared first on Steel Market Update.

Scrap trading has been slow to develop in all but the Detroit area mills. The domestic steel mills are trying to reduce the spread between shredded scrap and prime grades of scrap (busheling and bundles) which in some cases has expanded to $70 per gross ton. Scrap guru Michael Marley reported this afternoon that the […] The post Final Thoughts 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 A trickle of bullish news for steel helping to push values higher on very light HR futures volume and reduced selling interests. […] The post Hot Rolled Futures: Bullish News Pushing Values Higher appeared first on Steel Market Update.

Initial reports coming out of the financial community are suggesting ferrous scrap prices could be down $5 to $15 per ton once the August negotiations between the steel mills and their suppliers get under way. The expectation that the prime grades will be hit after spending a couple of months moving sideways. However, not all […] The post August Expected to be the Low Price Point for Ferrous Scrap Prices appeared first on Steel Market Update.

Steel Dynamics announced second quarter 2016 net income of $142 million on net sales of $2.0 billion. In comparison, net sales in Q1 totaled $1.7 billion with net income of $63 million and year ago sales were $2.0 billion with adjusted net income of $53 million. A decline in imports of flat rolled steel and […] The post Steel Dynamics Sees Stability in the Market appeared first on Steel Market Update.

As reported last week, obsolete grades of ferrous scrap came under price pressure as negotiations concluded for July deliveries. Prime grades, however, saw prices move sideways as the spread between shredded scrap and primes increased. The product that saw the most movement was shredded due to excessive inventories and little movement on the export front […] The post Ferrous Scrap Price Roundup appeared first on Steel Market Update.

To our USA customers welcome back from your 4th of July holiday. I saw this quote while doing some research this afternoon, “Fun is one of the most important and underrated ingredients in any successful venture” (Richard Branson) This is something I have believed in for my entire steel career. Speaking of fun, we have […] The post Final Thoughts appeared first on Steel Market Update.

The following article is by contributing writer Damon Sun of Daido International. Several key elements has happened in the last few weeks in the ferrous markets in Asia: 1) China Customs Bureau has started inspections for alloy content in the export of billets (square bars). The export tax rebate (9%) is applicable only to alloy […] The post Brexit and World Scrap Markets to Affect USA Steel Prices appeared first on Steel Market Update.

There have been a number of articles written recently regarding the move by the Chinese government to remove some of the tax incentives in the form of rebates to the Chinese steel producers who export certain steel products. Any move to remove export tax rebates on steel is seen as a positive by the rest […] The post China Moves to Remove Export Tax Rebates (or is it?) appeared first on Steel Market Update.

We purposely did not begin this article on where our sources are seeing ferrous scrap prices with an attention grabbing headline as we think readers would be confused. The confusion comes from the pressure the domestic steel mills are expected to put on obsolete grades, like shredded scrap and HMS (heavy melt scrap). Those of […] The post SMU Expectations for Ferrous Scrap Pricing for July appeared first on Steel Market Update.