Virgin steel is made with iron ore, coke and limestone. It was done that way, and only that way, for many decades. Then along came the “mini” mills. So-called minimills recycle ferrous scrap, mixing it with pig iron or other iron units and melting it down in large electric arc furnaces to produce new steel. […] The post SMU Steel 101 Workshop – Changing with the Industry appeared first on Steel Market Update.
Virgin steel is made with iron ore, coke and limestone. It was done that way, and only that way, for many decades. Then along came the “mini” mills. So-called minimills recycle ferrous scrap, mixing it with pig iron or other iron units and melting it down in large electric arc furnaces to produce new steel. […] The post SMU Steel 101 Workshop – Changing with the Industry appeared first on Steel Market Update.
There have been some discussions recently with articles written about the global scrap trade and China. China is the world’s largest steel producing nation with 50 percent (or greater) of the world’s steel production. A couple of years ago, I received information from one of my Chinese trading contacts about scrap steel being exported out […] The post Final Thoughts appeared first on Steel Market Update.
John Packard is on vacation… Have the mills lost their pricing momentum on flat rolled? It sure looks that way, based on the latest Steel Market Update data. About 38 percent of the OEM and service center executives responding to SMU’s market trends questionnaire this week report that the mills have lost their momentum and […] The post Final Thoughts 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.
Last night, Steel Market Update participated in the annual Bank of America Merrill Lynch dinner hosted by metals and mining analyst Timna Tanners. We also spoke at the CRU Steel Briefing a little earlier in the day. Here are some of the key takeaways from those meetings. Mill Lead Times Short Flat rolled steel mill […] The post Notes From New York City Steel Meetings appeared first on Steel Market Update.
Editor’s note: The following comments on where ferrous scrap settled for April come from one of SMU’s sources: U.S. scrap market prices gave way to a lull in export demand, mill outages and a perceived increased flow of obsolescent scrap due to the onset of spring weather. It ignored the flooding, which has inhibited the flow […] The post Ferrous Scrap Settles Down $20 for April appeared first on Steel Market Update.
The month of September saw steel prices continue a steady decline that began in August. Steel Market Update data in the table below shows the benchmark hot rolled price slid from more than $900 per ton in the summer to the current price around $854. The same for cold rolled, which went from $1,000 a […] The post September at a Glance appeared first on Steel Market Update.
Steel Market Update expects to welcome nearly 900 executives to our Steel Summit Conference in Atlanta Aug. 27-29. There is still time to sign up if you would like to be one of them. To register, visit: www.SteelMarketUpdate.com/Events/Steel-Summit or by contacting our office at 772-932-7538. See the full conference program below: Making Sense Out of […] The post 2018 Steel Summit Program appeared first on Steel Market Update.
The 2018 SMU Steel Summit Conference is on pace to become the largest conference we have ever hosted. Our conference will be the premium networking event for manufacturers, fabricators, steel distributors, steel mills, trading companies and toll processors, as well as the industries that supply those groups. Based on the current registration rate, we anticipate […] The post Making Sense Out of the Chaos – SMU Steel Summit 2018 appeared first on Steel Market Update.