April ferrous scrap prices continue to be in negotiation as the domestic mills try to drive down the buying prices while the dealers try to hold on because they know the mill order books are still good – especially on the sheet mills. We learned from one of our sources in the Ohio Valley the […] The post April Ferrous Scrap Prices Still Up in the Air appeared first on Steel Market Update.
At the end of March the domestic steel mills cancelled any open portion of their ferrous scrap orders for March delivery with their scrap suppliers. This is always the first sign of an expectation of a drop in ferrous scrap prices once the negotiations begin in earnest for April delivery. Even with the tight supplies […] The post Steel Mills Cancel March Scrap Orders, Anticipate Lower Priced Scrap in April appeared first on Steel Market Update.
Buyers and sellers of flat rolled steel having been bouncing like the proverbial rubber ball over the past six weeks as they try to make sense of where steel prices are heading over the near term. Steel Market Update (SMU) asked those responding to our flat rolled steel market trends survey last week where they […] The post Steel Prices at a Peak or Do We Have More Room to Run? appeared first on Steel Market Update.
Early indications (and we should put special emphasis on the word “early”) are for ferrous scrap prices to trend slightly lower on shred and obsolete grades while prime grades (busheling/bundles) are expected to trade sideways due to strong demand from sheet mills. In March, prices for prime grades of scrap rose $60-$65 per gross ton […] The post April Ferrous Scrap Prices: No Dramatic Shifts in Pricing Seen appeared first on Steel Market Update.
When we conducted our flat rolled market trends analysis during the middle of February we found 20 percent of our respondents had concerns regarding supply during calendar year 2017. The majority of respondents (63 percent) expressed no concerns about supply. As we move forward to last week the majority is still expressing no concerns about […] The post SMU Survey Results: Concerns Growing About Supply – Especially Coated Steels appeared first on Steel Market Update.
Flat rolled steel prices are reacting to the two $30 per ton price announcements made by the domestic steel mills over the past month. The culprit (or scapegoat depending on your perspective) has been the rapid rise in ferrous scrap prices which are the primary inputs for electric arc furnace (EAF) steel mills and is […] The post SMU Price Ranges & Indices: Reacting to Increase Announcements appeared first on Steel Market Update.
The scrap market created a lot of buzz over the past two months that resulted in, so far, two domestic steel mill price increases totaling $60 per ton ($3.00/cwt). I got a note over the weekend from one of the national companies who told me about the scrap markets, “There is a sense the market […] The post Final Thoughts appeared first on Steel Market Update.
Flat rolled steel order books have been helping push ferrous scrap prices higher for March delivery to the domestic steel mills. Steelmakers have paid $50 to $80 per gross ton higher prices than February for prime grades such as busheling and bundles. Sheet mills pushed their buying prices in order to get the supply of […] The post Ferrous Scrap Prices Roar with Primes Up $50-$80 appeared first on Steel Market Update.
On Friday of last week Nucor Plate Mill Group announced a $30 per ton price increase on carbon and alloy plate and $50 per ton on heat-treated plate. The increase was to be effective immediately. Today, ArcelorMittal USA also followed the Nucor lead with an increase of their own. A Nucor plate customer told SMU […] The post Nucor Announces Plate Price Increase, AM Follows appeared first on Steel Market Update.
We are still early in the negotiation process for ferrous scrap pricing for the month of February. The expectation is for much higher than originally thought (sideways to +$30) a couple of weeks ago. SMU scrap sources are advising the Detroit market settled today at up $40 per gross ton on obsolete and shred grades […] The post Detroit Ferrous Scrap Said to be Up $40/$60 appeared first on Steel Market Update.