Let’s just clear the air of any confusion here. It looks like Nucor’s price increase – $50 per ton ($2.50 per cwt) – announced earlier this week was a catch-up to an increase of the same amount announced by Cleveland-Cliffs in mid-December. Assuming that’s the case, we’ve had two rounds of price increases since Thanksgiving. […] The post Final Thoughts appeared first on Steel Market Update.
Scrap market prices increased in January month over month on poor flows in December and surging export demand, according to scrap executives. “Obsolete flows are down seasonally, and export prices have shown dramatic increases over the last month,” one scrap executive said. He said Detroit mills entered the market last week at prices up $60 per gross […] The post Scrap Prices Rise Boosted by Export Demand appeared first on Steel Market Update.
Turkish scrap import prices increase w/w Turkish scrap prices have been rising consistently since the end of 2022 and into the first week of 2023. Last week, we were reported two confirmed deals at the level of ~$396 /t for HMS 80:20, which were closed at the end of December. Since then, a total of […]
Global scrap prices have stabilised or increased in late 2022, supported by seasonal weather disruption and inflated freight rates. This, coupled with improved sentiment following the China reopening, has triggered a wave of restocking that led us to revise upwards the forecast for 2023 Q1 and slightly for Q2, when we believe steel prices will […]
Steel mills are less willing to negotiate prices as we enter into the new year. With the exception of Galvalume, all of the products SMU surveyed remained more fixed in price compared with the last market check two weeks ago, and a far cry from early November of last year. In fact, the plate market […] The post Steel Mills Continue to Balk at Negotiating Lower Tags appeared first on Steel Market Update.
Sheet prices entered 2023 moving upward on expectations of higher prime scrap prices, and on a modest uptick in activity as some buyers looked to get ahead of anticipated higher steel prices as well. The gains also came on the heels of a price increase of $50 per ton ($2.50 per cwt) initiated last month […] The post SMU Price Ranges: Sheet Starts ’23 Moving Up appeared first on Steel Market Update.
Steel Market Update is taking some time off for Christmas and the New Year. Our last issue of 2022 will be published on Thursday, Dec. 22. Our offices will be closed the week of Dec. 26-30, as well as on Monday, Jan. 2. In addition, we will not update prices on Tuesday, Dec. 27. We […] The post Holiday Notice: Christmas and New Year appeared first on Steel Market Update.
Turkish scrap import prices increase w/w Last week, the Turkish scrap market turned quiet again following active buying activity in the prior week. Consequently, our assessment for HMS 1/2 80:20 remained unchanged w/w at $381 /t CFR (+$42 /t m/m) due to a lack of new deals. The previous price rebound in Turkish scrap market […]
The spread between hot-rolled coil (HRC) and prime scrap prices is narrowing for the second consecutive month, according to Steel Market Update data. Prices for both products increased in December, following five consecutive months of declines. The latest HRC-prime spread is one of the lowest recorded in more than two years. The spread is now back […] The post Hot Rolled vs Prime Scrap Price Spread Remains Low appeared first on Steel Market Update.
Turkish scrap import prices increase w/w The Turkish scrap market has continued the rebound and buying activity was more active last week. Our assessment for HMS 1/2 80:20 increased to $381 /t CFR on five fresh deals, up by $7 /t w/w and $31 /t m/m. Scrap prices(1) $/t11-Nov18-Nov25-Nov02-Dec09-DecHMS 1/2 80:20 CFR Turkey350339339374381Shredded CFR Turkey370359359394401Notes: (1) […]