August could see US scrap prices stabilizing, or even rising, depending on the grade or region, scrap sources told SMU. The post Domestic Scrap Tags Could Rebound in August: Sources appeared first on Steel Market Update.
Second-quarter net income decreased year-on-year for US steel producers Nucor and Cleveland-Cliffs as prices and turnover fell. Nucor is bracing for lower profits; Cleveland-Cliffs is looking forward to higher shipments. North Carolina-based Nucor said it expects company earnings in Q3 will be less than the $1.46 bn (€1.32 bn) achieved in Q2 because of decreased profitability […]
Hot-rolled coil prices remain rangebound between roughly $850-900 per ton ($42.50-45 per cwt), according to our latest market check. You could say that’s not news. Our HRC index settled at $870 per ton on Tuesday afternoon. A week-over-week decline of $20 per ton from $890 last week might be little more than noise. You’d want to […] The post Final Thoughts appeared first on Steel Market Update.
On Steel Market Update’s most recent Community Chat, we caught up with Timna Tanners, managing director of Wolfe Research, to hear her latest take on the steel market. Tanners chatted with SMU managing editor Michael Cowden about the myth of mill discipline within the sheet market. The market isn’t much more disciplined than a few […] The post SMU Community Chat: Tanners Talks the ‘Myth’ of Mill Discipline appeared first on Steel Market Update.
The spread between hot-rolled coil (HRC) and prime scrap prices continued to narrow in July, according to Steel Market Update data. SMU’s average HRC price rose this week, while busheling scrap tags fell. Our HRC average price rose $10 per net ton week over week to $890 per ton ($44.50 per cwt) as of Tuesday, July 11. Busheling tags, […] The post Prime Scrap, HRC Price Spread Narrows Further in July appeared first on Steel Market Update.
Domestic scrap prices fell for busheling and shredded grades in July, while tags were mostly sideways to slightly up on heavy melting scrap, sources said. “Between tight scrap supplies, slightly better-than-expected domestic demand in the South and Ohio Valley, and relatively stable export pricing, the market trended sideways for obsolete grades in those regions as well […] The post Bush, Shred Prices Down in July, HMS Mostly Sideways appeared first on Steel Market Update.
Romanian aluminium company Alro is to increase recycling potential by 60,000 t/y following installation of two double-chamber furnaces, a holding furnace and associated fume collection and treatment plant at Slatina. Though high energy prices have forced the company to cut back on primary aluminium production, its other commitments remain unchanged, according to chairman Marian Nastase […]
Next month is expected to bring some stability after months of falling scrap prices, with sources seeing the market as sideways. “The July market expectations are soft sideways,” one scrap source told SMU. “A stable export market combined with reduced inbound scrap flows should halt the recent run of large price drops.” He said that […] The post July Scrap Market Predicted To Be Sideways appeared first on Steel Market Update.
Companies should keep a watchful eye on pricing and lead times, according to members of the Heating, Air-Conditioning & Refrigeration Distributors International (HARDI) speaking on the June 27 meeting of its Sheet Metal/Air Handling Council. During May’s meeting, most HARDI participants thought that prices would continue to drop. Over half of the individuals thought it […] The post HARDI Members on Sidelines, Cautiously Watching Market appeared first on Steel Market Update.
The spread between hot-rolled coil (HRC) and prime scrap prices narrowed further in June, according to Steel Market Update data. Both the averages of SMU’s HRC and busheling scrap prices slipped this week. Our HRC average fell $5 per net ton week-over-week to sit at $930 per ton ($46.50 per cwt) as of Tuesday, June 13. Meanwhile, after settling, […] The post HRC, Prime Scrap Price Spread Narrows Again in June appeared first on Steel Market Update.