Scrap dealers were a little surprised by the end of this past week as ferrous scrap prices remained stable instead of rising $10 per ton as many had anticipated. Steel Market Update wanted to understand what happened that resulted in a sideways market and here is what we learned from one of our East Coast […] The post Ferrous Scrap Prices Move Sideways for September appeared first on Steel Market Update.
Steel Market Update (SMU) had been hearing that we should expect sideways scrap prices as we move into September. However, over the last couple of working days the signals are now pointing toward a strong sideways to slightly higher tilt to ferrous scrap pricing. We have heard numbers could go up as high as $10 […] The post Ferrous Scrap Prices for September: Firm Sideways to Up $10-$20 appeared first on Steel Market Update.
Pricing in the HRC futures market has continued slightly upward this week stemming from positive economic data and a bullish outlook within the steel industry. September prices have been trading around $655-667, October prices have been trading between $640-657, and Q4 has traded between $645-651, all about $5-10 improvements week on week. Further down the […] The post Hot Rolled Futures: Bull Market Becoming a Reality appeared first on Steel Market Update.
Today’s hot rolled coil futures (HRC) article comes to us from Andre Marshall, CEO of Crunchrisk, LLC and our Managing Price Risk I & II instructor. In his article he will review the S&P 500, copper pricing, crude oil pricing, steel, iron ore and ferrous scrap futures trading: Well the S&P 500 reached its high […] The post Hot Rolled Futures: World in Turmoil appeared first on Steel Market Update.
Ferrous scrap prices in the Midwest, Mid-Atlantic and East Coast have been moving sideways as the August negotiations come to a close. We are hearing from our scrap sources that the balance between supply and demand is quite good as flows have been solid and mill orders books are “decent.” Our scrap sources in Chicago […] The post August Scrap Numbers Moving Sideways, Pig Iron Firming appeared first on Steel Market Update.
SMU’s latest ferrous scrap report from Damon Sun of Daido International shows heavy melt scrap holding firm at $350/mt. Scrap imports from the US to Taiwan appear to be on hold. He reports recently selling 5000mt at $343/mt CFR Taichung. Kaoshiung was buying late last week at $348/mt but then stopped buying. Scrap from Thailand […] The post Asian Scrap Markets appeared first on Steel Market Update.
The HRC futures market has continued its upward trend in the past few weeks with recent bullish events in the physical market supporting prices. While nearby periods remain firm with August and September trading around $650-660, further down the curve cal 15 prices have trended upwards trading up to $643. Similarly, Q1 and cal 15 […] The post Hot Rolled Futures Prices Pop after Weeks of Malaise… appeared first on Steel Market Update.
The domestic steel mills are not canceling any remaining open July scrap orders which is an indication that the mills are busy, need the scrap and do not anticipate being able to buy scrap for less money in August than they did in July. SMU scrap sources are telling us demand is good and supply […] The post August Ferrous Scrap Prices Expected to Tread Sidways to Up $10 appeared first on Steel Market Update.
The SMU Key Market Indicators is a Premium Level product produced by Peter Wright in collaboration with Steel Market Update. Our Executive Level members have been getting access to all of the Premium Level data for the month of July (today is the last day). This includes access to all of the Premium data which […] The post SMU Key Steel Market Indicators Shows Increase in Positive Indicators appeared first on Steel Market Update.
Andre Marshall of Crunch Risk LLC has the honors this week to discuss the financial and HRC, iron ore and scrap futures markets in an attempt to make sense out of what can sometimes feel like total chaos. Financial Markets: Well we’re at all time highs again, having hit an intraday on the September S&P […] The post Hot Rolled Futures: New Highs appeared first on Steel Market Update.