Steel and scrap prices continued to climb throughout January, fueled by strong demand and tight supply. Hot rolled steel prices surpassed $1,000 per ton in the first week of the year, levels not seen in over a decade. Steel Market Update’s hot rolled price index reached $1,140 per ton by the end of January, up […] The post SMU’s January At-a-Glance 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 Price and forecast volatility continue to plague the ferrous markets, but how close are we to the top? Hot rolled […] The post Hot Rolled Futures: How Close Are We to the Top? 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 January has been a turbulent month all the way around—HR futures markets included. After a few months of high velocity price […] The post Hot Rolled and Scrap Futures: Turbulent Month 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 Price and forecast volatility continue to plague the ferrous markets, but how close are we to the top? Hot rolled […] The post Hot Rolled Futures: How Close Are We to the Top? appeared first on Steel Market Update.
Steel Dynamics Inc. turned in a remarkable fourth quarter and 2020 results despite a year fraught with challenges from the COVID-19 pandemic. SDI posted its second highest record for yearly steel shipments at 10.7 million tons. The company’s fabrication platform shipped a record 666,000 tons. Metals recycling posted operating income of $45 million in 2020 […] The post Upbeat Outlook at Steel Dynamics appeared first on Steel Market Update.
By Senior Analyst Ryan McKinley, from CRU’s Steelmaking Raw Materials Monitor The CRU metallics price indicator (CRUmpi) increased by 8.3% m/m in May to 370.7. Following China’s removal of a VAT rebate for steel exports, scrap markets in Asia surged. This momentum carried over to Turkey, where scrap import prices rose substantially m/m, although upward […] The post CRU: Asian Demand Spike Causes Global Metallics Price Increase appeared first on Steel Market Update.
By CRU Analysis Advisor Greg Wittbecker Ford announced in February that it would be all electric in Europe by 2030. This comes on the heels of General Motors stopping production of internal combustion engines (ICE) by 2035. These decisions underscore the shifting landscape in key aluminum applications and use within automotive. Die-castings have always been […] The post Life After the Internal Combustion Engine: The Effect on Aluminum 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 HR and scrap prices had a very strong move in the last month. All eyes focus on lead times for […] The post Hot Rolled Futures: Very Strong Move appeared first on Steel Market Update.
Schnitzer Steel completed the transition to a consolidated earnings report, posting a net income of $15 million for the first quarter of FY 2021 ending Nov. 30, 2020. Results were a significant increase from net income of $5 million in Q4 FY 2020 and a loss of $7 million a year ago. “We were very […] The post Schnitzer Steel Reports Strong Scrap Demand and Pricing appeared first on Steel Market Update.
By CRU Principal Analyst Chris Asgill, from CRU’s Global Steel Trade Service Scrap prices have surged over the past month, with import prices up $50-90 /t m/m. Turkish prices have gained the most significant ground, though were below Asian prices a month ago. At the time of our assessment last week Turkish prices were approaching $400 /t […] The post CRU: Scrap Prices Surge on Stronger Steel Markets appeared first on Steel Market Update.