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 HR spot physical indexes have remained anchored just above the mid-$700/net ton area with one more week to go before the […] The post HR Futures: Indecision Remains with Neutral to Bearish Sentiment appeared first on Steel Market Update.
Turkish scrap import prices unchanged w/w Last week, Turkish scrap prices remained stable at $368 /t CFR (+$0 /t w/w, +$19 /t m/m) in an absence of fresh deals. Both finished steel (export) and scrap (import) prices were mostly stable in the past week as industry convened for the Irepas conference during 9-11 October, while […]
The relationship between hot-rolled coil (HRC) and prime scrap prices has stabilized in the last few weeks, according to Steel Market Update data. After briefly stalling in August, hot rolled prices have began to slide downwards again since the beginning of this month. Busheling scrap prices settled at down $45 per gross ton last week, the […] The post Hot Rolled vs Scrap Price Spread Stabilizes appeared first on Steel Market Update.
Time for a contrarian, optimistic thought experiment. First the bad news: Sentiment is increasingly bearish on months of falling steel and scrap prices, nearly all respondents to our latest survey report that mills are willing to negotiate lower still, and flattish lead times provide paltry evidence for a rebound. A quick check of the headlines […] The post Final Thoughts appeared first on Steel Market Update.
Turkish scrap import prices increased w/w Last week, Turkish scrap prices were largely stable, slightly inching up on two new deals to $368 /t CFR (+$3 /t w/w, -$3 /t m/m). Scrap prices(1) $/t 09-Sep 16-Sep 23-Sep 30-Sep 07-Oct HMS 1/2 80:20 CFR Turkey 371 349 344 365 368 Shredded CFR Turkey 391 369 364 385 […]
Supported by high finished steel and scrap prices, Schnitzer Steel Industries Inc. expects its results for full-year fiscal 2022 to be the second best in the company’s history. This week, the Portland, Ore.-based scrap recycler and long steel producer announced its preliminary results for the fourth quarter and fiscal year ended Aug. 31, 2022. Although […] The post Schnitzer to Report Weak Fiscal Q4, Strong Full-Year Results appeared first on Steel Market Update.
Steel Dynamics Inc. (SDI) has completed its acquisition of Mexican ferrous and nonferrous scrap recycler Roca Acero SA de CV. The Fort Wayne, Ind.-based EAF steelmaker did not disclose the purchase price but said the deal was paid for in cash. “Combined with our existing metals recycling facilities in Mexico, the addition of Roca significantly […] The post SDI Completes Purchase of Mexican Recycler Roca Acero appeared first on Steel Market Update.
Turkish scrap import prices increased w/w Turkish scrap prices rebounded on a fresh deal last week, for the first time since the beginning of September. Our assessment for HMS 1/2 80:20 rose to $365 /t CFR, up by $21 /t w/w and down by $31 /t m/m. Scrap prices(1) $/t 02-Sep 09-Sep 16-Sep 23-Sep 30-Sep HMS […]
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 Hot-rolled (HR) futures participants market watch as they wait for signs that demand will return even as the dollar continues to […] The post Hot Rolled Futures: Participants Watch for Signs Demand Will Return appeared first on Steel Market Update.
The committee of industrial development in Kazakhstan plans to prolong a prohibition on foreign shipments of ferrous and non-ferrous metal scrap and wastes for another six months from 6 October. But the proposal will first be open to public discussion until 5 October, the Metals Daily News service in Ukraine reported. A six-month ban was imposed on […]