Perhaps it’s because the year started out with so much promise that the end of 2018 seemed so uninspiring. On balance, most in the steel business would call 2018 a good year, some even a great year. But few look forward to 2019 with the same optimism and confidence they felt a year ago at […] The post 2018 Year in Review; What Does It Mean for 2019? appeared first on Steel Market Update.
The year ended on a cautionary note with steel demand, prices and buyers’ sentiment showing downward momentum in December. Prices for flat rolled products continued their fourth-quarter declines with hot rolled dipping to $754, cold rolled to $865 and galvanized to $931 in December. Plate is the notable exception, holding steady around $1,000 per ton, […] The post December at a Glance: Downward Momentum appeared first on Steel Market Update.
Editor’s note: Steel Market Update is sharing the following Premium content with all its readers in this issue. For more information on how to upgrade to a Premium-level subscription, email info@SteelMarketUpdate.com. Table 1 summarizes the price changes through December of the five materials considered in this report. It reports the month/month, 3 months/3 months and […] The post Raw Material Prices: Iron Ore, Coking Coal, Pig Iron, Scrap and Zinc appeared first on Steel Market Update.
Worthington Industries reported net sales of $958.2 million for its fiscal 2019 second quarter ended Nov. 30, a 10 percent increase over the same quarter in fiscal 2018. However, its quarterly earnings were not as strong. Operating income totaled $35.9 million, a decrease of $16.2 million from the prior-year quarter. “I am pleased with the […] The post Worthington Feels Margin Pressure from Tariffs appeared first on Steel Market Update.
By CRU Senior Editor Ryan McKinley, from CRU’s Steelmaking Raw Materials Monitor Upward momentum for the CRU metallics price indicator (CRUmpi) slowed in July, but still rose by 2.8% m/m to 413.5. Metallics price increases were strongest in Europe amid high steel demand, with both HBI and scrap prices there rising from June levels. Scrap […] The post CRU: Metallics Markets Begin Cooling on Higher Supply, Policy Changes appeared first on Steel Market Update.
Ferrous scrap prices declined by $30-40 per ton in January—a month that typically sees prices rebound. Some scrap experts predict the downtrend may continue. How low prices could go is a source of some disagreement. January scrap settled at the following numbers in various regions, report SMU sources: Midwest/Ohio Valley: Shred – $330-335/GT; HMS – […] The post Will Ferrous Scrap Prices Continue to Decline? appeared first on Steel Market Update.
Ferrous scrap prices are down sharply in January, settling $30 to $40 per ton lower than December, report Steel Market Update sources. The decline was a surprise to many as scrap prices typically rebound in January following seasonal slowness at the end of the year. CRU Steel Analyst Ryan McKinley noted that this is the […] The post Ferrous Scrap Prices Down Sharply in January appeared first on Steel Market Update.
Following increases in October and November, ferrous scrap prices for December settled with relatively little change, report Steel Market Update sources. “Pittsburgh and points west went sideways. East of Pittsburgh and to the south, prices went down $10 per ton,” said one dealer. Export buying prices are off by $20 per ton, he added. “Declining […] The post Ferrous Scrap Prices Mostly Sideways in December appeared first on Steel Market Update.
Editor’s note: The following analysis of the U.S. rod and bar market was contributed by CRU Steel Analyst Ryan McKinley. Steel Market Update will periodically expand its coverage of the steel market with long products content from CRU as an added benefit to our members. U.S. mills announced wire rod price increases of $1.50/cwt across […] The post Stable Lead Times, Low Imports, Scrap Hikes Boost Long Products Prices in the U.S. 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 HR spot prices continued to fall this week breaking down through the $800/ST [$40/cwt] level. The HR futures followed suit. Futures […] The post Futures: HR and Scrap Forward Curve Steepness Moving in Opposite Directions appeared first on Steel Market Update.