If you are a steel buyer thinking that this rash of price increase announcements has run its course you may want to re-think the market forces again. One of the major scrap exporters booked a cargo of 80/20 mix to Turkey at $296 per metric ton delivered. They also sold shredded scrap at $301 delivered. […] The post Turkey Export Order a Sign of Higher Scrap Prices Come January appeared first on Steel Market Update.
Steel Market Update (SMU) ferrous scrap sources advised us over the weekend that strength in the Ohio Valley, as well as in the export markets, has led to ferrous scrap prices trading higher than originally thought. Talks continue in many of the regions of the country which have not yet completed scrap pricing negotiations for […] The post November Scrap Prices Moving Higher than Expected appeared first on Steel Market Update.
Steel Market Update scrap sources are advising us to expect ferrous scrap prices have bottomed and will increase once the November negotiations get underway next week with the domestic steel mills. We are hearing scrap prices should increase by a minimum of $10 per gross ton and some items could go up by as much […] The post November Scrap Prices Expected to Increase by $10-$30 appeared first on Steel Market Update.
Steel Market Update ferrous scrap sources advised us over the weekend that scrap negotiations have wrapped up between the dealers and the domestic mills and that steel mills, once again, have walked away the winners as scrap prices dropped across the country. However, the weakest areas are those furthest away from the east coast where […] The post Scrap Prices Drop for October: Are We Near a Bottom? appeared first on Steel Market Update.
SMU scrap sources advised ferrous scrap prices have settled in Detroit with prime grades (Busheling and bundles) moving lower by $30 per gross ton and shredded scrap by $20 per gross ton. Dealers had been hoping that a slower flow of feeder stock into the yards coupled with stronger buying by long products mills might […] The post September Scrap Negotiations Continue as Detroit Settles Down $30 on Primes appeared first on Steel Market Update.
The prices for flat rolled steel have dropped over the past few weeks which is creating a situation where the domestic steel mills want to recoup a portion (or all) of the reductions by negotiating lower ferrous scrap pricing. The mills are asking for $20 per gross ton across the board (HMS, shred, prime grades) […] The post September Scrap Has Mills Pressuring Prices with Mixed Results Expected appeared first on Steel Market Update.
Initial reports coming out of the financial community are suggesting ferrous scrap prices could be down $5 to $15 per ton once the August negotiations between the steel mills and their suppliers get under way. The expectation that the prime grades will be hit after spending a couple of months moving sideways. However, not all […] The post August Expected to be the Low Price Point for Ferrous Scrap Prices appeared first on Steel Market Update.
There is a big difference between the settlement prices in the Midwest versus those on the East Coast. Ferrous scrap prices in the Chicago area saw shredded scrap drop by $30 per gross ton, cuts (obsolete scrap) was down $20 per ton while prime grades (bundles and busheling) went sideways. In the Detroit numbers shredded […] The post Scrap Prices Slide on all but Prime Grades appeared first on Steel Market Update.
SMU scrap sources on Friday divulged that negotiations have been slow with many mills not yet having bought as of this past Friday. Price indicators are running from sideways on prime grades (busheling/bundles) to down $10, $20, $30 in the Ohio Valley, Midwest and Southeast. The east coast was referenced as being down by even […] The post Ferrous Scrap Prices Drop on All but Prime Grades appeared first on Steel Market Update.
Our scrap sources are a little less optimistic today about June scrap price negotiations than they were a couple of short weeks ago. Those pesky Chinese are once again mucking up the waters with their billet offers to Turkey (billet can be used in place of scrap and cost less to convert to long products […] The post Scrap Sources Expect Sideways on Primes & Down Slightly on Obsolete Grades appeared first on Steel Market Update.