Nucor expects third-quarter earnings to be lower sequentially and on-year, the steelmaker said in earnings guidance on Thursday. The post Nucor Sees Lower Q3 Earnings, Sheet Mills Take a Hit appeared first on Steel Market Update.
Turkish scrap import prices rose due to conclusion of several deals towards the end of last week as key buyers and sellers re-entered the market. The post CRU: Resumption of Trade Leads to Higher Turkish Scrap Import Prices appeared first on Steel Market Update.
Domestic scrap prices for shredded and HMS were sideways in September vs. August. However, busheling fell precipitously during the month, according to scrap sources surveyed by SMU. The post Prime Scrap Tags Sink in September, Shredded and HMS Flat appeared first on Steel Market Update.
As the deadline for a United Auto Workers (UAW) strike nears, the vast majority of market participants polled by SMU expect union workers will strike. The post Steel Buyers Expect UAW Strike, Survey Shows appeared first on Steel Market Update.
Turkish scrap import prices have remained relatively stable over the past two weeks due to slow trade activity. This was partly due to the holiday on August 30. CRU’s latest price assessment for HMS1/2 80:20 is $368 /metric ton CFR, up $1 /metric ton week-over-week (WoW) and up $21 /metric ton month-over-month (MoM). The holiday […] The post CRU: Turkish Scrap Prices Stabilize Due to Limited Buying Activity appeared first on Steel Market Update.
Scrap sources had a mixed outlook for US scrap prices for September. The post Scrap Outlook Mixed for September appeared first on Steel Market Update.
The ministry of economic development and digitalization in Moldova is considering establishing a state monopoly on delivery of ferrous and non-ferrous scrap metal. The new setup would apply to what the ministry termed as economic agents in the country who do not have fiscal relations with the budgetary system. Dubbed a fiscal monopoly, the ministry […]
Metals and electronics recycler Sims Ltd. reported lower earnings in its North America Metal division for its fiscal-year 2023 that ended June 30 due to “falling sales prices and strong domestic competition.” The post Sims’ FY’23 N. America Earnings Dip, But Touts Recent US Buys appeared first on Steel Market Update.
Global metal recycler Sims Limited has conditionally agreed to acquire ferrous recycler Baltimore Scrap Corp (BSC) and affiliated companies. Operating 17 sites across Maryland, Virginia, Pennsylvania, New York and New Jersey, BSC sells around 600,000 t/y of scrap. It runs four shredders and has what Sims described as extensive rail, barge and port infrastructure. “This […]
Despite reporting the third highest quarterly revenues in its history, Greenwave Technology Solutions still posted a loss for the quarter ended June 30. The post Greenwave Posts Loss, Foresees ‘Aggressive Consolidation’ in Industry appeared first on Steel Market Update.