The uncertainty in the market (called the “blahs” by a number of our steel sources) is affecting both buyers and sellers of steel. Steel mills have been doing all that they can in an attempt to keep flat rolled steel prices from slipping too far. One of our mill sources had a sense of humor […] The post Steel Mills Battle Market Blahs 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.
Ferrous scrap prices drifting lower by as much as $30 per gross ton (Detroit) on primes and $20 (Detroit) on shred will put some pressure on flat rolled steel spot prices in the coming weeks. Not all of the regions have settled prices and the dealers are resisting going down as much as what was […] The post Final Thoughts 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.
SMU Sources are advising us that obsolete grades of ferrous scrap are trading sideways (prices remaining the same as last month) while prime grades move lower by $10 to $15 per gross ton in the Chicago, Ohio Valley, Detroit and Indiana markets. Prior to negotiations beginning, the expectation was for obsolete grades to remain intact […] The post Ferrous Scrap Trading Sideways on Obsolete to Down $10-$15 on Primes appeared first on Steel Market Update.
Scrap trading has been slow to develop in all but the Detroit area mills. The domestic steel mills are trying to reduce the spread between shredded scrap and prime grades of scrap (busheling and bundles) which in some cases has expanded to $70 per gross ton. Scrap guru Michael Marley reported this afternoon that the […] The post Final Thoughts 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.
As reported last week, obsolete grades of ferrous scrap came under price pressure as negotiations concluded for July deliveries. Prime grades, however, saw prices move sideways as the spread between shredded scrap and primes increased. The product that saw the most movement was shredded due to excessive inventories and little movement on the export front […] The post Ferrous Scrap Price Roundup appeared first on Steel Market Update.
To our USA customers welcome back from your 4th of July holiday. I saw this quote while doing some research this afternoon, “Fun is one of the most important and underrated ingredients in any successful venture” (Richard Branson) This is something I have believed in for my entire steel career. Speaking of fun, we have […] The post Final Thoughts appeared first on Steel Market Update.
We purposely did not begin this article on where our sources are seeing ferrous scrap prices with an attention grabbing headline as we think readers would be confused. The confusion comes from the pressure the domestic steel mills are expected to put on obsolete grades, like shredded scrap and HMS (heavy melt scrap). Those of […] The post SMU Expectations for Ferrous Scrap Pricing for July appeared first on Steel Market Update.