This is my gut feeling, my opinion based on what I have been reading and watching in the news like everyone else. The world is trying to figure out if President Trump is going to start a trade war and the first bullets are made with flat rolled steel, pipe and long products. I am […] The post Final Thoughts appeared first on Steel Market Update.
On Thursday, Steel Market Update (SMU) published an article about the scrap markets entitled “Ferrous Scrap: Sideways in July?” In the article, John Harris, the former scrap buyer for ArcelorMittal and one of our speakers at this year’s SMU Steel Summit Conference, gave his opinions on the future issues associated with the industry. On Friday, […] The post Article Prompts Response on Chinese Scrap appeared first on Steel Market Update.
Steel Market Update (SMU) spoke with ferrous scrap executives about the outlook for the industry, not only looking at the upcoming negotiations with the steel mills for July shipments, but also the long-term view. The scrap industry is upbeat about its future as electric arc furnaces continue to take market share from integrated steel producers. […] The post Ferrous Scrap: Sideways in July? appeared first on Steel Market Update.
I am at 35,000 feet and, according to the monitor in front of me, we are traveling at 564 miles per hour and are located over the state of Utah. After working with a great group of attendees at our California Steel 101 program, I am on my way to New York City, where Tim […] The post Final Thoughts appeared first on Steel Market Update.
Ferrous scrap pricing has solidified in most regions of the United States east of the Rocky Mountains. Scrap prices traded sideways (remained the same as last month) on prime grades such as bundles and busheling. Otherwise, shredded and obsolete grades saw declines of $10 to $15 per gross ton, according to Steel Market Update (SMU) […] The post Ferrous Scrap Prices Sideways to Down $10 appeared first on Steel Market Update.
With the exception of ArcelorMittal and Cliffs Natural Resources, the U.S. steel industry passed on making statements about climate change and how much the steel industry has done over the past twenty years to minimize its carbon footprint and to reduce pollutants in the air and water. The rise of Electric Arc Furnaces (EAF) and […] The post Final Thoughts appeared first on Steel Market Update.
On Friday of this past week flat rolled steel buyers were lighting up the Steel Market Update inbox with questions or comments about a potential flat rolled steel price increase to be announced as early as Monday of this week. Steel buyers and executives associated with the service centers were telling SMU that Nucor is […] The post New Round of Flat Rolled Price Increases Coming? appeared first on Steel Market Update.
Multiple sources are advising SMU that California Steel (CSI) has announced a $30 per ton ($1.50/cwt) increase for production orders during the first two weeks of July. After that they will evaluate pricing and make a further announcement. We will investigate this further over the next couple of days and advise our readers what this […] The post Final Thoughts appeared first on Steel Market Update.
For our USA customers welcome back from the Memorial Day Holiday weekend. Our scrap sources are advising us that as of today they are not aware of any cancellations of existing ferrous scrap orders by the domestic steel mills. This expectation is for a “soft sideways” market, meaning prices would remain the same, although there […] The post Final Thoughts appeared first on Steel Market Update.
Steel Market Update has begun to ask our scrap sources to provide some color as to what we can expect. Early indications from our sources are to expect ferrous scrap prices to trade “sideways” (unchanged) from the levels reported at the beginning of May. One of our sources told us, “The June market looks to […] The post June Ferrous Scrap Pricing Expected to Move Sideways appeared first on Steel Market Update.