Contributor: John Packard

SMU Sources Forecast Scrap to Rise by $40 by the Beginning of the New Year Steel Market Update (SMU) scrap sources are forecasting ferrous scrap prices to rise by approximately $40 per ton by early January. December scrap prices are projected to be flat (sideways) to up slightly from November scrap pricing levels. However, scrap […] The post December Ferrous Scrap Forecast to Move Sideways to Up $10 appeared first on Steel Market Update.

Our existing website is about as basic as one can get when it comes to housing our pricing and other data. The existing site has no ability to provide data in a graphic form and our tables are cumbersome and pretty low-tech. This is not the image we want to project as we build toward […] The post Interactive Graphing Tool & Tables appeared first on Steel Market Update.

Scrap prices settled higher as the first full week of November came to conclusion. Our sources pegged the Upper Midwest/Chicago area prices up approximately $30 per ton compared to the beginning of October. #1 Heavy Melt (HMS) was referenced at $375 per gross ton ($370-$380 range). Our previous price level for the area averaged $348 […] The post Scrap Prices Up $30 in Most Markets appeared first on Steel Market Update.

TSI Iron Ore: Market Remains Firm Iron ore prices have continued to be strong as Rebar futures have bounced off recent months lows last week and spot steel in China continues to go higher.  Over the past couple of weeks iron ore prices have pushed up around $5/ton down the curve with Q1 trading around […] The post Iron Ore & Scrap Futures Firming appeared first on Steel Market Update.

CHICAGO, IL – November 6, 2013 SMS Mill Services Michigan, LLC (SMS) is pleased to announce that it has been awarded a steel slab conditioning services agreement with Severstal North America (SNA) at its Dearborn, Michigan operation. With engineering already in process, SMS will provide infrastructure, equipment and personnel to fully scarf (skin), cut to […] The post SMS Awarded Slab Conditioning Services Agreement with Severstal NA appeared first on Steel Market Update.

According to Steel Market Update (SMU) sources scrap prices are headed higher for the month of November delivery into the domestic steel mills. Early reports have Detroit settling up $30 per gross ton on all grades. We have also heard shred prices are up $30 per gross ton in the Cleveland and Pittsburgh markets and […] The post Early Reports Have Shredded Scrap up $30 in Detroit, Pittsburgh, Cleveland appeared first on Steel Market Update.

Our ferrous scrap sources are advising Steel Market Update to expect a minimum of $20 per gross ton increase in scrap prices as we head into the month of November mill buys. We are finding there is some weakness being exhibited on the east coast with the Claymont plate mill being shut down by Evraz, […] The post Anticipated November Scrap Pricing May Push Flat Rolled Pricing Higher appeared first on Steel Market Update.

In a normal ferrous scrap market the first deals done at the beginning of the month are usually those with the best pricing. The month of October is turning out to be one of the exception months as many dealers rejected the preliminary lower offers and managed to trade steel scrap at the same numbers […] The post October Scrap Prices Firm Up as Week Progressed appeared first on Steel Market Update.

A quick note about ferrous scrap. From the early deals being done – and there are still a number yet which need to be completed. Our sources are advising us that scrap prices have been trading lower by $5 to $10 per gross ton in the east.  However, in the Midwest there have been trades […] The post Final Thoughts appeared first on Steel Market Update.

This week the domestic steel mills and their scrap suppliers will be locked in negotiations to determine the price of ferrous scrap used in the EAF’s and BOF’s to make steel. Steel Market Update sources have been advising that the October scrap market looks to be down $10 per gross ton before firming later in […] The post October Scrap Forecast to be Down $10 Per Gross Ton appeared first on Steel Market Update.