The following article on the hot-rolled coil (HRC), scrap and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week: Hot Rolled The HR futures market has been somewhat subdued this month, which is reflected in the price changes for July. Over the […] The post Ferrous Futures: Treading Water This Summer appeared first on Steel Market Update.
Steel Market Update sources expect ferrous scrap prices to weaken further in August, potentially registering the fourth consecutive month of declines since March and April’s record high prices. Obsolete grades are anticipated to decrease around $30 per gross ton over July, while prime scrap is expected to ease marginally. “Despite what I think is slightly […] The post August Scrap Prices Expected to Slightly Weaken appeared first on Steel Market Update.
Prices for all seven of the steelmaking raw materials tracked in this SMU analysis declined over the last 30 days, receding further from record-high levels seen in March and April. Through the latest data available as of July 27, coking coal prices decreased 56% compared to one month prior, pig iron and busheling scrap prices […] The post Raw Materials Prices Decline Further Through July appeared first on Steel Market Update.
US plate prices have been holding steady and bucking the downtrend presently seen across sheet and coated products. Plate demand has remained largely steady, while buyers have maintained lean inventories, only taking volumes to fill gaps. The price dynamic has led to historically high premiums over hot-rolled coil (HRC) prices. Presently, plate prices are more […] The post Plate Market Report: Delta Unsustainable, Bound to Fall appeared first on Steel Market Update.
The spread between hot-rolled coil (HRC) and prime scrap prices is back on the downward trend seen prior to the Russia-Ukraine war, according to Steel Market Update data through this week. The HRC-scrap spread peaked last September, falling to an 18-month low in early March and briefly rebounding through May. The latest spread is nearly […] The post Hot Rolled vs Scrap Price Spread Narrows appeared first on Steel Market Update.
Hot-rolled coil prices fell again this week and now have a tenuous grip on $900 per ton ($45 per cwt). We remain at the lowest price levels since mid-December 2020 – more than 18 months ago. What’s going on? For starters, we know that the low end of our range might come as surprise to some […] The post Final Thoughts appeared first on Steel Market Update.
Steel Market Update sources reported ferrous scrap prices fell significantly in July, the third consecutive month of declines since peaking in March and April. Prime grades declined as much as $150 per gross ton, while obsolete grades decreased $30-50 per ton. Scrap prices are now in line with levels seen in the first two months […] The post Prime Scrap Prices Fall as Much as $150/Ton in July, Bottom Near? appeared first on Steel Market Update.
The following article on the hot-rolled coil (HRC), scrap and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week: Hot Rolled After a brisk bout of futures activity in HR to close out the first half of 2022, we are experiencing much […] The post Hot Rolled Futures: Probing for a Price Floor in a Thin Summer Market appeared first on Steel Market Update.
There has been a broad consensus that wherever the current market bottoms will be higher than pre-pandemic norms. But as our latest survey results indicate, estimates of where that bottom is keep moving lower. About half of respondents to our latest survey think prices will be $800-899 per ton two months from now. In late […] The post Final Thoughts appeared first on Steel Market Update.
Steel Market Update sources expect ferrous scrap prices to fall again in July, the third consecutive month of declines since March and April’s record high prices. Both prime and obsolete grades are expected to decrease $50 per gross ton or more, with some saying prime could fall as much as $100 per ton. “The swiftness […] The post Scrap Prices Expected to Fall Further in July appeared first on Steel Market Update.