Market: Trade

By CRU Senior Analyst, Puneet Paliwal, from CRU’s Scrap, DRI/HBI & Pig Iron Monitor The CRU metallics price indicator (CRUmpi) for November fell by 3.5% month-on-month (MoM), to 298.3, which is the lowest level since December 2020. Global scrap demand continues to be undermined by weak steel market fundamentals in key markets, causing prices to stay […] The post CRU: Key Global Metallics Prices Continue to Decouple appeared first on Steel Market Update.

Turkish scrap import prices decreased w/w Last week there was some buying activity in the Turkish scrap market after no trades took place during the week prior. These new deals were done at lower price levels amid persistent weakness in the finished steel market. Our assessment for HMS 1/2 80:20 dropped for the first time […]

The following article on the hot-rolled coil (HRC), scrap and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week: Hot Rolled HR spot physical indexes have remained anchored just above the mid-$700/net ton area with one more week to go before the […] The post HR Futures: Indecision Remains with Neutral to Bearish Sentiment appeared first on Steel Market Update.

By CRU Senior Analyst, Puneet Paliwal, from CRU’s Scrap, DRI/HBI & Pig Iron Monitor Global scrap prices stay subdued while those of ore-based metallics have found some support. Overall metallics demand continues to be hampered by the steel market weakness, a trend which may sustain through the short term, particularly in Europe. The CRU metallics price […] The post CRU: Metallics Prices Have Not Yet Bottomed appeared first on Steel Market Update.

Time for a contrarian, optimistic thought experiment. First the bad news: Sentiment is increasingly bearish on months of falling steel and scrap prices, nearly all respondents to our latest survey report that mills are willing to negotiate lower still, and flattish lead times provide paltry evidence for a rebound. A quick check of the headlines […] The post Final Thoughts appeared first on Steel Market Update.

SMU contributor Bryan Tice is a partner at Metal Edge Partners, a firm engaged in Risk Management and Strategic Advisory. He and the firm design and execute risk management strategies for clients. They also provide process and analytical support. Before joining Metal Edge Partners, Bryan held commercial leadership roles involving purchasing, sales, and risk management […] The post Hot Rolled Futures: Black Smoke Rising appeared first on Steel Market Update.

Turkish scrap import prices decreased marginally w/w Last week, Turkish scrap prices fell by a marginal $2 /t w/w (up $28 /t m/m) to $393 /t CFR for HMS 1/2 80:20. Market activity calmed again after a series of purchases in mid-August. Turkish mills have lowered their finished longs offers by 10–20 /t w/w due […]

Steel Market Update sources expect ferrous scrap prices to be sideways or rise slightly going into September. The move would potentially end the four-month streak of declines seen since the spring’s record high tags. Obsolete grades are anticipated to remain relatively stable from August to September, while prime scrap is expected to increase $20-$30 per […] The post September Scrap Prices Expectations Sideways or Rising appeared first on Steel Market Update.

Keynote speaker Paul Lowrey presented at the SMU Steel Summit Conference today, explaining his market thoughts through data on US steel market capacity, steel mill consolidation, and the scrap market. As president of Steel Research Associates (SRA) with a career spanning 30 years, Lowrey opened his segment explaining, “I’ve been labeled by some as a […] The post Paul Lowrey: It’s a Great Time to Be in the Steel Industry appeared first on Steel Market Update.

The transformation the steel industry has undergone has been accelerated over the past 18-24 months, with even greater dynamics underway, said a panel of steel executives and analysts during the first day of Steel Market Update’s 2022 Steel Summit conference in Atlanta, Ga. Demand trajectories across regions are diverging, finished steel consumption in China is […] The post The Global Steel Industry: A Reshaping is Underway appeared first on Steel Market Update.