It’s been a sloppy start to the year for domestic hot-rolled (HR) coil and ferrous scrap markets. One of the loudest things to happen in HR this year might be something that didn’t happen at all. Namely, Nucor didn’t follow competitor Cleveland-Cliffs higher when Cliffs announced a price hike to start the year. The post Final thoughts appeared first on Steel Market Update.
US scrap prices for January remained unsettled as of early Thursday afternoon, according to market sources. The post January scrap tags on wild ride in still unsettled market appeared first on Steel Market Update.
European scrap prices were stable to down m/m in January. Market participants slowly began to return to the market after the holidays, while sales stay slow. Scrap quotes currently range between €355 /t–€390 /t depending on the grade and country. European scrap market participants cited weak demand as buyers and sellers were gradually returning to […]
The US scrap trade was still being finalised at the time of writing, and the tug-of-war between mills and dealers left the market in limbo for several days. Detroit and Midwest mills initially entered the market with bids lower m/m for both prime and secondary grades, but dealers were pushing to keep prices flat. Ultimately, […]
I expected that we’d start off January with prime scrap prices modestly up if for no other reason than industrial activity typically slows down over the holidays. And mills’ appetite for scrap typically increases in anticipation of stronger Q1 order activity. The post Final thoughts appeared first on Steel Market Update.
US scrap prices shot up in December and are expected to continue their rise in January, market sources told SMU. The post Domestic scrap tags soar in December appeared first on Steel Market Update.
The prices for all grades of pig iron have dramatically risen since SMU’s last report from Nov. 18. The post Miller on scrap: Pig iron market takes off appeared first on Steel Market Update.
The export market for ferrous scrap has been strengthening over the last month by a sizable margin. The post Miller on scrap: Export market prices rising appeared first on Steel Market Update.
US scrap prices are expected to rise in December, industry sources told SMU. The post Domestic scrap tags seen increasing in December appeared first on Steel Market Update.
South Africa’s department of trade, industry and competition has suggested a prohibition on foreign shipments of scrap metal be extended for six months. Steel sector body Seifsa disagrees with continuation of a policy primarily intended to tackle the theft of copper. The department concedes the ban, first imposed in 2022, has had minimal effect on […]