Ferrous scrap prices in the Midwest, Mid-Atlantic and East Coast have been moving sideways as the August negotiations come to a close. We are hearing from our scrap sources that the balance between supply and demand is quite good as flows have been solid and mill orders books are “decent.” Our scrap sources in Chicago […] The post August Scrap Numbers Moving Sideways, Pig Iron Firming appeared first on Steel Market Update.
The domestic steel mills are not canceling any remaining open July scrap orders which is an indication that the mills are busy, need the scrap and do not anticipate being able to buy scrap for less money in August than they did in July. SMU scrap sources are telling us demand is good and supply […] The post August Ferrous Scrap Prices Expected to Tread Sidways to Up $10 appeared first on Steel Market Update.
The Detroit scrap market settled on Monday with cut grades (such as heavy melt or HMS) rising by $10 per gross ton and shredded scrap by $15 per gross ton. Prime grades, such as #1 busheling traded sideways compared to last month. Our scrap sources are telling us that the best deals made (from a […] The post Scrap Market Has Upward Blip Now Trending Sideways appeared first on Steel Market Update.
Our ferrous scrap sources are advising Steel Market Update that June saw the bottom to scrap prices and July will see prices move sideways (no change) to as much as up $20 per gross ton. If scrap prices do indeed rise by as much as $20 per ton, this could be important for steel buyers […] The post Ferrous Scrap Prices Bottomed in June – Sideways to Up $20 in July (maybe…) appeared first on Steel Market Update.
Our ferrous scrap sources are advising Steel Market Update that June saw the bottom to scrap prices and July will see prices move sideways (no change) to as much as up $20 per gross ton. If scrap prices do indeed rise by as much as $20 per ton, this could be important for steel buyers […] The post Ferrous Scrap Prices Bottomed in June – Sideways to Up $20 in July (maybe…) appeared first on Steel Market Update.
You can expect to begin to read a lot of articles calling for prices “peaking” or about the subject of where do prices go from here. The expectation is that prices will move lower and everyone will have an opinion or theory as to why this will happen. Others will make the case for sideways […] The post Final Thoughts appeared first on Steel Market Update.
Shredded ferrous scrap prices are now projected to be down $15 to $20 per gross ton in the Chicago market according to SMU sources. At the same time prime grades (like #1 busheling) are expected to tread sideways (remain the same as prior month). If, once the deals are completed, all runs true to the […] The post Price Spread to Return Between Shred and Prime Grades of Scrap appeared first on Steel Market Update.
With the various flat rolled indexes reporting hot rolled pricing approaching $680 per ton in the mill spot market we are quite close to the $685 announced by Nucor on April 4th and matched by a number of the domestic steel mills. The question now is will the mills attempt to move prices up to […] The post Final Thoughts appeared first on Steel Market Update.
Early indications are for April ferrous scrap prices in the Midwest to rise once we enter the next round of steel mill negotiations with their scrap suppliers. Steel Market Update (SMU) scrap sources are pegging the potential increase at $10 to $15 per gross ton. Other industry sources have it as moving even higher. Scrap […] The post April Scrap Prices Forecast to Move Higher – Steel Prices to Follow? appeared first on Steel Market Update.
March scrap prices have settled with most areas of the country moving lower. The key Chicago area saw prices as follows: #1 Heavy Melt = $370 to $380 with $385 average down $15 per gross ton.Shredded scrap = $388 down $17 per gross ton.#1 Busheling = $388-$400 with an average of $394 per gross ton […] The post March Scrap – Close to Market Bottom? appeared first on Steel Market Update.