Category: Prices

BY CRU Analyst Alexander Ordosch For the week ending Sept. 20, Turkish scrap import prices fell for the seventh consecutive week to $228 /t CFR for HMS 80:20, down $11 /t w/w. We assessed two deals from the UK totaling 37 kt of scrap. The current price is the lowest in the weekly price assessment on record and the lowest level […] The post CRU: Turkish Scrap Import Prices Fall to Lowest Level Since 2016 appeared first on Steel Market Update.

Scrap prices are heading down and could dip below the $200/GT mark as the gap between scrap supplies and demand continues to widen. With mill operating rates declining under 80 percent and scrap export markets dropping drastically, expect steel prices to follow suit, said scrap consultant John Harris, CEO of Aaristic Services. Scrap is the […] The post Harris: “Scrap is the Bellwether for Global Steel Prices” appeared first on Steel Market Update.

Domestic steelmakers managed to reverse the year’s long downtrend in steel prices for a few weeks in July and August, but the turnaround was short-lived. As of mid-September, Steel Market Update’s Price Momentum Indicator is pointing firmly lower for hot rolled, cold rolled and coated steel prices, as well as for steel plate, as the […] The post SMU Market Trends: Mills Lose Pricing Momentum appeared first on Steel Market Update.

Steel Dynamics is expecting earnings to drop in the third quarter due to lower profits from its steel operations. Lower scrap prices were not enough to offset lower shipments and declining steel pricing. The steelmaker expects earnings in the range of $0.66 to $0.70 per diluted share compared to $0.87 per share in the second […] The post SDI Expects Lower Shipments and Pricing in Q3 appeared first on Steel Market Update.

By CRU Analyst Ryan McKinley Domestic scrap prices in the U.S. fell by $30-40 /l.ton in September depending on region and grade—by about $20 /l.ton lower than was generally expected by the market. The steeper-than-expected decline was caused by a confluence of factors including ample supply, mill outages and a weakening export market. Obsolete prices were […] The post CRU: Oversupply and Outages Push U.S. Scrap Prices Lower Than Expected appeared first on Steel Market Update.

By CRU Principal Analyst Chris Asgill The pervasiveness of steel market weakness came to the fore this month, particularly for steel long products, leading to a sharp drop in scrap prices in almost every market we assess. Consequently, the CRU metallics price indicator (CRUmpi) dropped by 8.3 percent m/m to 209.4 (see chart), the lowest level since November […] The post CRU: Scrap Prices Collapse Amid Weak Steel Markets appeared first on Steel Market Update.

John Packard is on vacation… Have the mills lost their pricing momentum on flat rolled? It sure looks that way, based on the latest Steel Market Update data. About 38 percent of the OEM and service center executives responding to SMU’s market trends questionnaire this week report that the mills have lost their momentum and […] The post Final Thoughts appeared first on Steel Market Update.

Following on a small $20 increase in August, ferrous scrap prices for September are down $30 to $40 per ton as U.S. mills adjusted to lower demand and planned for upcoming fall shutdowns. “Prices fell this month amid a confluence of factors including ample supply, a weakening export market and mill outages,” reported CRU North […] The post Ferrous Scrap Drops $30-40 Per Ton in September appeared first on Steel Market Update.

The following article on the hot rolled coil (HRC) steel and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week: Steel In the last 30 days we have seen the prices in the HR forward curve drop by an average of $70/ST […] The post Hot Rolled Futures & BUS Futures Continue Their Descent appeared first on Steel Market Update.

Despite slight upward momentum in steel pricing in August, steel buyers’ sentiment languished in the +40s on SMU’s index. This tepid optimism likely reflects widespread concerns in the market about steel demand in the second half and the staying power of steel prices following the recent increases announced by the mills. The average price for […] The post August at a Glance appeared first on Steel Market Update.