Category: Prices

Steel Market Update asked one of our Steel Summit Conference speakers, Mike Marley of MetalPrices.com to comment on why scrap prices moved lower as the month of July progressed compared to the early indications of higher ferrous scrap prices during the first few days of the month. Here is his response: There were a couple […] The post SMU Steel Summit Speaker Mike Marley Forecasting Lower Scrap Prices in August appeared first on Steel Market Update.

The hot rolled steel futures market has perked up in the past few weeks with recent bullish events in the physical market supporting prices.  After months of trading in a strong backwardation, prices on the nearby months July, August and September have pushed higher trading near parity with spot prices, between $650-665 per ton.  Further […] The post Hot Rolled Futures Prices Pop after Weeks of Malaise… appeared first on Steel Market Update.

The following article on the Asian scrap markets was written by Damon Sun one of Steel Market Update contributing writers and an active participant in the Asian ferrous scrap markets: From last week onwards, the Far East Asian scrap markets have been weakening on the containerized sales, but the bulk scrap sales have insisted and […] The post Asian Scrap Markets: Price Slide Until End of August appeared first on Steel Market Update.

The Detroit scrap market settled on Monday with cut grades (such as heavy melt or HMS) rising by $10 per gross ton and shredded scrap by $15 per gross ton. Prime grades, such as #1 busheling traded sideways compared to last month. Our scrap sources are telling us that the best deals made (from a […] The post Scrap Market Has Upward Blip Now Trending Sideways appeared first on Steel Market Update.

Our ferrous scrap sources are advising Steel Market Update that June saw the bottom to scrap prices and July will see prices move sideways (no change) to as much as up $20 per gross ton. If scrap prices do indeed rise by as much as $20 per ton, this could be important for steel buyers […] The post Ferrous Scrap Prices Bottomed in June – Sideways to Up $20 in July (maybe…) appeared first on Steel Market Update.

The HRC futures market has been stuck in a rut over the past couple of weeks in terms of both volumes and price volatility.  The market remains backwardated with the spot price now at 670 and the July futures value around 650, Q3 630 and Q4 630.  While prices in the physical market have softened […] The post HRC Futures Prices Showing signs of Support… appeared first on Steel Market Update.

A reminder right up front that Steel Market Update will not publish on Thursday and Sunday evenings due to the 4th of July holiday here in the United States. We will return to our regular schedule beginning on Tuesday of next week. If, by chance, there is some breaking news which needs to be covered […] The post Final Thoughts appeared first on Steel Market Update.

Our ferrous scrap sources are advising Steel Market Update that June saw the bottom to scrap prices and July will see prices move sideways (no change) to as much as up $20 per gross ton. If scrap prices do indeed rise by as much as $20 per ton, this could be important for steel buyers […] The post Ferrous Scrap Prices Bottomed in June – Sideways to Up $20 in July (maybe…) appeared first on Steel Market Update.

The HRC futures market has been stuck in a rut over the past couple of weeks in terms of both volumes and price volatility.  The market remains backwardated with the spot price now at 670 and the July futures value around 650, Q3 630 and Q4 630.  While prices in the physical market have softened […] The post HRC Futures Prices Showing signs of Support… appeared first on Steel Market Update.

According to SMU sources, last week ArcelorMittal USA raised the minimum selling price on secondary grades of steel to approximately $500-$520 per ton ($25.00/cwt-$26.00/cwt). This has caused some concern within the industry with one fabricator who has been involved with secondary steel for the past 15 years reporting to Steel Market Update, “…I have been […] The post Steel Mills Push to Get Higher Secondary Price Minimums appeared first on Steel Market Update.