This is our first ever write up of global scrap trade. We believe that to understand the gyrations of the domestic scrap market we should study where the US stands as a global player. This data is not very current because some nations are slow to report but we still believe it gives a valuable […] The post Global Scrap Trade through Q3 2016 appeared first on Steel Market Update.
Since Tuesday Steel Market Update has received more input regarding the ferrous scrap markets and what we may be looking at regarding negotiations as we head into the month of January. We asked a couple of questions to World Steel Dynamic’s scrap guru, Mike Markley and this is what he told us: Initial thoughts are […] The post Ferrous Scrap Availability Could be “Tight” if Turkish Mills Enter Market appeared first on Steel Market Update.
If you are a steel buyer thinking that this rash of price increase announcements has run its course you may want to re-think the market forces again. One of the major scrap exporters booked a cargo of 80/20 mix to Turkey at $296 per metric ton delivered. They also sold shredded scrap at $301 delivered. […] The post Turkey Export Order a Sign of Higher Scrap Prices Come January appeared first on Steel Market Update.
Steel Dynamics is expecting fourth quarter profitability to decline from third due to lower shipments and metal spread compression. Shipments were down in both the flat and long products categories. In addition, lower steel pricing more than offset savings realized from lower ferrous scrap costs. Impairment charges for the quarter are still being assessed related […] The post Steel Dynamics Profits to Decline in Q4 appeared first on Steel Market Update.
We have an unusual hot rolled futures market article tonight which will be dealt with in two segments: First, we will have an article written by Andre Marshall of Crunch Risk, LLC as he deals with the financial markets (S&P 500), oil and copper and then he has some comments about an errant trade which […] The post Hot Rolled Futures: Unsettling Times! appeared first on Steel Market Update.
Flat rolled prices rose again this week according to Steel Market Update sources. Our hot rolled, cold rolled, galvanized and Galvalume indices increased by $10 to $20 per ton and are very close to maximizing the increase announcements made two weeks ago. At that time the target was clearly set for $600 per ton hot […] The post SMU Price Ranges & Indices: Consolidating Increases appeared first on Steel Market Update.
There has been a flurry of activity over the past 24 hours with our sources suggesting that the very early trades on ferrous scrap were done up $30 to $45 per gross ton. As we slide into late Tuesday our sources were advising that the numbers could be up as much as $50 per gross […] The post Scrap Pricing Moving Higher than Expected appeared first on Steel Market Update.
Ferrous scrap prices are poised to increase to the domestic steel mills and negotiations are under way. The domestic mills did not cancel the open orders that have not yet been delivered which is a sure sign that they expect prices to be higher in December than what they negotiated in November. A pig iron […] The post Early December Scrap Negotiations Suggest Market will be Up $30-$40 appeared first on Steel Market Update.
The following article on the hot rolled coil (HRC) and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week: Steel Interesting futures markets in steel lately. Today Q1’17 HR traded at $625/ST, 1,200 ST/mo. Also Jan/Feb’17 HR traded at $625/ST, 500 ST/mo. […] The post Hot Rolled Futures: Q1 ’17 Trades at $625 appeared first on Steel Market Update.
Steel Market Update went out to a couple of hundred steel buyers and executives today as we probe for information about flat rolled steel prices. At the same time we asked questions about price direction and demand. Tonight we will cover price direction (prior to AM increase announcement) and on Thursday we will cover their […] The post Service Centers/End Users Comment on Price Direction from Here appeared first on Steel Market Update.