Prices for most European grades declined in August The European scrap market has been impacted by weak demand. All of our contacts who buy scrap to feed their production have reported being less active on the spot market. Some even took the decision to stop buying scrap until further notice, and instead use their existing […]
Members of Thyssenkrupp’s executive board have agreed to allocate more than €2 bn ($2 bn) of capital for construction of the German conglomerate’s first direct reduction iron (DRI) plant. A final go-ahead remains subject to public funding. The company’s intention is to award the contract for the 2.5 Mt/y unit at its Duisburg works in […]
Diversified metal and mining group, Rio Tinto, says it will construct an aluminium recycling centre at its Arvida plant in Saguenay-Lac-Saint-Jean, Quebec. The company says the new unit will make it North America’s first primary aluminium producer to incorporate post-consumer material into aluminium alloys. Clean aluminium scrap sourced locally from used vehicles and construction materials will be […]
US aluminium products’ manufacturer, Novelis, and multi-metal producer, Kobe Steel of Japan, have held a ground-breaking ceremony to mark the construction start of a recycling centre. With a casting capacity of 100,000 t/y of sheet ingot, it is being built at the companies’ Ulsan Aluminum joint venture (JV) in South Korea. Costing $50 M (€50.2 […]
Prices for six of the seven steelmaking raw materials tracked in this SMU analysis declined over the last 30 days, again receding from record-high levels seen 2-3 months prior. Through the latest data available as of June 23, coking coal prices decreased 28% compared to one month prior, aluminum prices fell 15%, iron ore and […] The post Raw Materials Prices Decline Through June appeared first on Steel Market Update.
Editor’s note: Steel Market Update is please to share this Premium content with Executive members. For information on how to upgrade to a Premium-level subscription, email Info@SteelMarketUpdate.com. Following record price increases in March and April, prices for six of the seven steelmaking raw materials tracked in this SMU analysis declined over the last 30 days. […] The post Raw Materials Prices Ease in May 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.
Steel Market Update’s check of the market this week puts the benchmark price for hot rolled at $1,180 per net ton. The spot market continues to set new highs for the HR price, which in the second week of January topped the old record of $1,070 per ton reported by SMU in 2008. It has […] The post Final Thoughts appeared first on Steel Market Update.
Steel Dynamics, Inc. has completed its acquisition of Zimmer, a Mexican scrap recycler, as part of its raw material procurement strategy to support the new flat rolled mill it is building in Sinton, Texas. SDI plans to begin operations at the new EAF mill in mid-2021. Zimmer is headquartered in Monterrey, Mexico, and operates a ferrous and […] The post SDI Acquires Mexican Scrap Recycler appeared first on Steel Market Update.
Ferrous scrap prices are starting to settle as of today. Initial checks with some of our scrap sources found prime grades down $40 and obsolete grades down $30 in portions of the Midwest. We learned the Cleveland area mills bought busheling down $20 to $300/gross ton. We also learned of a purchase of HMS at […] The post Final Thoughts appeared first on Steel Market Update.