Alcoa makes $2.2 billion bid for Australian partner Alumina
Pittsburgh-based aluminum company Alcoa wants to acquire its Australian partner, Alumina Limited, in an all-stock deal valued at $2.2 billion.
Market: Trade
Hoffman on scrap: Weak Japanese yen weighs on West Coast export market
For the West Coast export market, Tet/Chinese New Year ended on Monday and buyers were just coming back to the market.
Steel sector urges end to South Africa’s scrap metal export ban
Trade body Seifsa has revived its call for the government to end prohibition of scrap metal exports, saying it is threatening the whole industry with collapse.
Kazakhstan and Kyrgyzstan extend ferrous scrap export bans
The government of Kazakhstan intends to prolong prohibition of foreign shipments of steel scrap and waste in order to support the domestic economy. “The decision was made collectively against the backdrop of the situation that has arisen due to the lack of raw materials for local processing enterprises and the restrictive measures on the export […]
Global scrap prices likely to end Q1 on a weak note
Scrap prices are expected to remain mostly stable across key markets in March
Miller on raw materials: A pig iron market update
The pig iron market has risen in recent months from the high $390s per metric ton (mt) last fall to $490/mt for Brazilian material and a bit more for Ukrainian product - for an overall average of $495/mt CFR. The post Miller on raw materials: A pig iron market update appeared first on Steel Market Update.
Miller on scrap: What’s next for February?
The state of the US scrap market is not very well understood, according to the dealer trade. It seems steelmakers in several regions are still looking to buy scrap, several sources told SMU. The post Miller on scrap: What’s next for February? appeared first on Steel Market Update.
Miller on scrap: The corporatization of the US, Canadian recycling industry
When I started in the scrap business many years ago as a rookie trader in Luria’s Cleveland office, I saw an industry composed of family-owned businesses stretching across a great industrial nation. The post Miller on scrap: The corporatization of the US, Canadian recycling industry appeared first on Steel Market Update.
January scrap prices slip less than initial offers
Domestic scrap prices ended up down slightly after a roller coaster of trading in January, scrap sources told SMU. The post January scrap prices slip less than initial offers appeared first on Steel Market Update.
Miller on scrap: What a mess!
For two consecutive months, the initial scrap prices didn’t attract the amount of scrap that mills needed. A Detroit area mill came in at $460 per gross ton (gt) for busheling, which was down $50 from last month and down $20 on shredded and plate and structurals (P&S). But I guess they did not know at the time another mill in the district bought scrap sideways. Needless to say, that order filled right away. SMU could not find any supplier who sold at down $50. The post Miller on scrap: What a mess! appeared first on Steel Market Update.