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 Weekly changes in the value of spot HR have continued to drop an average of about $30/net ton but it should […] The post Hot Rolled Futures: Peak Summer Pause? appeared first on Steel Market Update.
The Trinidad and Tobago government has outlawed the shipping of most scrap steel and copper abroad for, provisionally, six months to tackle the theft of infrastructure. Telcom TSTT and water company WASA have been worst hit, with service to customers affected. The prohibition is intended to be short term while the government devises a legislative […]
Though longer term market fundamentals remain good, global metal recycler Sims Limited says significant volatility makes the short-term outlook uncertain. “Aggressive interest rate rises to combat rapidly increasing inflation have reduced the demand for steel, copper and aluminium, and therefore the demand for recycled metal,” the Australia-based company said in commentary accompanying release of its […]
Steel Market Update sources report ferrous scrap prices declined as much as $70 per gross ton from July to August, the fifth consecutive month of declines since March–April’s record high prices. Prime scrap fell by $70 per ton from the month prior, while obsolete grades declined $15–40 per ton. For the first time since late-2020, […] The post Scrap Prices Drop in August, With Bush Near Shred Is Bottom Near? appeared first on Steel Market Update.
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 The HR futures market has been somewhat subdued this month, which is reflected in the price changes for July. Over the […] The post Ferrous Futures: Treading Water This Summer appeared first on Steel Market Update.
Backward physical integration comes to the aluminum rolling industry SDI’s decision to “jump the fence” and enter the aluminum rolling sector was, in and of itself, blockbuster news. However, the repercussions on the aluminum scrap market may be even more profound. CRU has argued for some time that the big aluminum rolling mills would eventually […] The post SDI’s $2.2B Rolling Mill Project Will Reshape Aluminum Scrap appeared first on Steel Market Update.
Steel Market Update sources reported ferrous scrap prices fell significantly in July, the third consecutive month of declines since peaking in March and April. Prime grades declined as much as $150 per gross ton, while obsolete grades decreased $30-50 per ton. Scrap prices are now in line with levels seen in the first two months […] The post Prime Scrap Prices Fall as Much as $150/Ton in July, Bottom Near? appeared first on Steel Market Update.
There has been a broad consensus that wherever the current market bottoms will be higher than pre-pandemic norms. But as our latest survey results indicate, estimates of where that bottom is keep moving lower. About half of respondents to our latest survey think prices will be $800-899 per ton two months from now. In late […] The post Final Thoughts appeared first on Steel Market Update.
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 futures are coming back to life after a quiet spell in May. Month to date in June more than 225,000 […] The post Hot Rolled Futures: Inflation Concerns and the Effect on Demand appeared first on Steel Market Update.
Steel Market Update sources report ferrous scrap prices declined from May to June, dropping further from the record high prices seen in March and April. Prime grades declined between $55-75 per gross ton, with obsolete grades down $50-70 per ton. This puts the SMU price indices for scrap as follows: Busheling scrap at $600-670 per […] The post June Scrap Prices Fall $50-75/Ton, July Expectations Lower appeared first on Steel Market Update.