Contributor: John Packard

Steel Market Update ferrous scrap sources have advised us there was quick buying of July scrap early this past week. We understand that a Midwest-based EAF mill was buying early, taking prime grades such as busheling up $10 per ton while obsolete grades (HMS, shred) were bought at sideways pricing to June. Busheling, which along […] The post Ferrous Scrap Sees Busheling Up $10, Obsolete Grades Sideways appeared first on Steel Market Update.

Steel Market Update’s sources reported that the June ferrous scrap trade produced slightly higher prices on prime grades of about $10 per ton and little change on obsolete grades. “There was a significant supply of shredded and cut grades offered into the market, which is not unusual for a June trade. Under market conditions like […] The post U.S Ferrous Scrap Prices Stay Steady in June appeared first on Steel Market Update.

Steel Market Update ferrous scrap sources expect a sideways to slightly higher domestic market, while the export markets see some pricing pressure. The following is what one of our scrap and pig iron sources had to say about the domestic market as of this weekend: “The U.S. scrap market should be characterized as firm for […] The post U.S Ferrous Scrap Markets Firm for June appeared first on Steel Market Update.

First, ferrous scrap prices are rising for delivery during the month of April. However, our sources are telling us that the increases are not at the $20-$30 per gross ton suggested a few days ago. The mills are playing hardball and the sense is that prices will drop in May, so dealers are taking what […] The post Final Thoughts appeared first on Steel Market Update.

Steel Market Update has been diligently working toward completing our SMU Steel Summit Conference agenda. We have been intentionally taking our time as we wait for market developments to mature and provide guidance as to what subjects will be the most pressing to the manufacturing companies, fabricators, steel distributors, steel mills, trading companies, toll processors […] The post Steel Summit Agenda is Strong and Getting Stronger appeared first on Steel Market Update.

Steel Market Update has been diligently working toward completing our SMU Steel Summit Conference agenda. We have been intentionally taking our time as we wait for market developments to mature and provide guidance as to what subjects will be the most pressing to the manufacturing companies, fabricators, steel distributors, steel mills, trading companies, toll processors […] The post Steel Summit Agenda is Shaping Up appeared first on Steel Market Update.

As much as the mills are gloating about President Trump’s decision to lay a 25 percent tariff on foreign steel, remember one thing – not one of them asked for it. When it was handed to them, they took it. They did not fight to protect those products that they don’t like to make (or […] The post Final Thoughts appeared first on Steel Market Update.

Three weeks ago, the expectation for February ferrous scrap was for prices to be firm to slightly higher than January. This was due to rising prices on exports of ferrous scrap to Turkey, as well as cold weather in the north and large buys by the domestic steel mills as they restock after running inventories […] The post ‘Sloppy Sideways’ Expected for February Scrap Pricing appeared first on Steel Market Update.

The January buy period saw ferrous scrap prices move significantly higher, lending support to recent mill price increases. While February is historically a down month for scrap, sources predict that February prices will be as high or even higher than January’s. January ferrous markets ended higher by $30 per gross ton for obsolete grades and […] The post Ferrous Scrap Prices Trending Higher in January, February appeared first on Steel Market Update.

As of late Friday, Steel Market Update ferrous scrap sources reported that scrap negotiations were ongoing and had not yet settled for the month of January. We heard late in the week of one Detroit-area mill paying up $20 per gross ton on prime grades and up $30 per gross ton on cut grades. We […] The post Final Thoughts appeared first on Steel Market Update.