Editor’s note: Paul Lowrey did a presentation at the Tampa Steel Conference in February 2022 covering a range of industry issues. It was well received by the audience. and SMU asked him to do it again at Steel Summit 2022 with updates. This is an excerpt of his anticipated presentation. I’m approaching 30 years in […] The post Lowrey: It’s a Great Time To Be in the Steel Industry appeared first on Steel Market Update.
Steel Dynamics Inc. (SDI) has agreed to acquire 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 would be paid for in cash. The agreement remains subject to customary closing conditions and regulatory approvals, SDI said. “We […] The post SDI Buys Mexican Scrap Recycler Roca Acero appeared first on Steel Market Update.
According to the latest Steel Market Update data, the spread between hot rolled coil prices and prime scrap prices has leveled out over the past eight weeks, after reaching an 18-month low in early March. The latest spread through May 10 is down compared to this time last year, but still higher than pre-pandemic spreads. […] The post HRC-Bush Spread Analysis: Peaking Out After March Rebound? 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 Recent HR spot price increases have continued to decelerate this month as prices near $1,500/ton. Initial market metallic supply concerns […] The post Hot Rolled Futures: Declining Futures Prices Reflect Rising Interest Rate Concerns appeared first on Steel Market Update.
According to the latest Steel Market Update data, the spread between hot rolled coil prices and prime scrap prices has changed course after reaching an 18-month low in March. The latest spread is in line with levels seen this time last year, and two times higher than pre-pandemic spreads. The SMU hot rolled coil price average […] The post Hot Rolled Coil Premium over Busheling Scrap Comparison 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 As the Russia/Ukraine conflict continues to smolder the upward trend in spot HR prices appears to have stalled this week […] The post Hot Rolled Futures: The HR Market Takes a Pause appeared first on Steel Market Update.
Schnitzer Steel Industries Inc. posted its best first half results in company history following a strong second quarter earnings. The result comes thanks to high prices and strong demand for both ferrous and nonferrous scrap. The Portland, Ore.-based scrap recycler and long steel producer recorded net income of $38 million in the second quarter of […] The post Schnitzer’s Best Half-Year Results Backed by Strong FYQ2 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 Ukraine/Russia war continues to fester, leaving all markets with maximum uncertainty. HR physical prices have risen just over $300/ST […] The post Hot Rolled Futures: Big Spike in Metallics Pushes Ferrous Prices Higher 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 In spite of a large drop in the HR index this past week (sub $950/ST), the forward curve in HR […] The post Hot Rolled Futures: Strong Near-Term Price Reversal in HR; How Long Will it Last? appeared first on Steel Market Update.
U.S. Steel Corp. is investing $60 million at Gary Works to give the Indiana mill the capability to produce up to 500,000 tons of pig iron annually and provide a critical raw material for the steelmaker’s electric arc furnaces. Once complete in the first half of 2023, pig iron production at Gary will provide nearly […] The post U.S. Steel to Add 500k tpy of Pig Iron Production at Gary Works appeared first on Steel Market Update.