Is the market at a bottom or not? Cleveland-Cliffs and US Steel have each announced price hikes of $60 per ton ($3 per cwt). And we’re told other mills might follow. If this isn’t a bottom, it sure looks like domestic mills are trying to create one with a floor of ~$600 per ton for […] The post Final Thoughts appeared first on Steel Market Update.
Turkish scrap import prices unchanged w/w The Turkish scrap market was again inactive last week as our assessment remained unchanged at $339 /t CFR for HMS 1/2 80:20 (+$0 /t w/w, -$33 /t m/m) due to a lack of new deals. Scrap prices(1) $/t28-Oct04-Nov11-Nov18-Nov25-NovHMS 1/2 80:20 CFR Turkey372348350339339Shredded CFR Turkey392368370359359Notes: (1) weighted average of known transactions […]
Turkish scrap import prices decreased w/w Last week, Turkish scrap prices dropped on a deal from the USA. Our assessment fell to $339 /t CFR for HMS 1/2 80:20, down by $11 /t w/w and $33 /t m/m. The downward movement in the scrap market is mainly due to the stagnant state of the finished […]
The spread between hot-rolled coil (HRC) and prime scrap prices has begun to narrow again after three months of stability, according to recent Steel Market Update data. Prices for both products continue to move lower, as they have most weeks since May. The latest HRC-prime spread is exactly one-fourth of what it was this time […] The post Hot Rolled vs Prime Scrap Spread at 26-Month Low 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 The indicated value of HR spot has declined roughly $31 per short ton ($687/ST to $656/ST) this month. For comparison purposes, […] The post HR Futures: Shifting Expectations in Forward Curve Prices appeared first on Steel Market Update.
Turkish scrap import prices slightly increased w/w Turkish scrap market turned quiet again and prices for imported material have remained largely stable. Our assessment slightly rose by $2 /t w/w to $350 /t CFR for HMS 1/2 80:20 on one confirmed deal from a US seller, while prices were $18 /t lower m/m. Scrap prices(1) $/t14-Oct21-Oct28-Oct04-Nov11-NovHMS […]
Turkish scrap import prices unchanged w/w The Turkish scrap market remained silent last week. Our assessment is unchanged at $372 /t CFR for HMS 1/2 80:20 (+$0 /t w/w, +$7 /t m/m) due to a lack of new confirmed deals. Although no deals were heard for scrap, market participants have indicated scrap prices are under […]
SMU has released its latest full survey results, and I want to highlight some big changes that we’ve seen in the data compared to just two weeks ago. Chief among them is what appears to be a big shift in service center pricing and buying patterns. We had seen most service centers trying to hold […] The post Final Thoughts appeared first on Steel Market Update.
Schnitzer Steel Industries Inc. said its fourth quarter ended Aug. 31 results were negatively impacted by declining ferrous and nonferrous sales prices and demand. The trend partially offsets the benefits of strong prices for its finished steel products. Tighter supply flows and an extended outage at its Everett, Mass., recycling facility were partly to blame […] The post Schnitzer: Near Record Annual Results Despite Falling Prices appeared first on Steel Market Update.
Turkish scrap market has turned quiet again after some purchases in mid-October. We heard three fresh deals completed in , which slightly lifted our assessment to $372 /t CFR (+$4 /t w/w, +$28 /t m/m). Scrap prices(1) $/t23-Sep30-Sep07-Oct14-Oct21-OctHMS 1/2 80:20 CFR Turkey344365368368372Shredded CFR Turkey364385388388392Notes: (1) weighted average of known transactions from all points of origin. Persistent […]