Flat-rolled steel prices continue to fall, but the market participants I spoke to today were taking the news in stride. SMU’s average hot-rolled coil price now stands at $1,480 per ton ($74 per cwt), down $55 per ton from $1,535 per ton a week ago and down $475 per ton from a 2021 high – […] The post Final Thoughts appeared first on Steel Market Update.
The first major live and in-person steel event is just six short weeks away as we prepare to host the industry at the Tampa Steel Conference. Steel Market Update will once again be working with Port Tampa Bay as we host the 33rdedition of the Tampa Steel Conference. The 2022 TSC will be held on […] The post 2022 Tampa Steel Conference – Live and Just Six Weeks Away appeared first on Steel Market Update.
Ferrous scrap prices for December settled mostly sideways across the U.S. following a big jump in November as export demand slowed and as mills sought to reduce year-end inventories. Steel Market Update sources generally put December scrap in the following ranges: Shred $520-540/GT; Bush $600-640/GT; and HMS $470-490/GT. “It was an unusual, and frankly unexpected, […] The post Ferrous Scrap Prices Flat in December on Weak Export Demand appeared first on Steel Market Update.
I’m concerned we’ve all gotten a little too complacent with the idea that the price correction underway will continue to be gradual and that the new floor for hot rolled coil, whatever it is, will be four digits instead of the sub-$400-500 per ton floors that have characterized past downcycles. I’m not saying we’re headed […] The post Final Thoughts appeared first on Steel Market Update.
(Editor’s note: This is a corrected version of Final Thoughts. The original misstated a hot rolled peak of $1,995 per ton, not $1,955.) In our questionnaire this week, we asked steel buyers: Do you sense that the market is changing, and in what ways? Not surprisingly, many referenced shortening mill lead times and declining steel prices. […] The post Final Thoughts appeared first on Steel Market Update.
First, please note that due to the Thanksgiving holiday, the Steel Market Update newsletter will not be published on Thursday (which is Thanksgiving Day) and Sunday, Nov. 28. We will return to our normal publication schedule on Tuesday, Nov. 30. We want to wish everyone in the United States a happy, healthy Thanksgiving with family and […] The post Final Thoughts appeared first on Steel Market Update.
December ferrous scrap prices are expected to trade sideways or up slightly after a surprise jump higher in November, Steel Market Update sources said. “December scrap is likely to move sideways, particularly for sales done at the higher end of the November range. For sales at the lower end, a $10-20 per ton ‘catch-up’ increase […] The post December Scrap Prices May See Small Increase appeared first on Steel Market Update.
With 2022 right around the corner, it’s time to reflect back on an unusual and eventful year for the steel industry. Following is Steel Market Update’s Top 10 News Events of 2021: #10 – Economy Rebounds from COVID: No one could have predicted when the virus crippled commerce in the spring of 2020 that the […] The post Final Thoughts appeared first on Steel Market Update.
By Philip Bell, President, Steel Manufacturers Association Earlier this year, the European Commission began reviewing its Waste Shipment Regulation (WSR) and considering proposals for its revision. On Nov. 17, the EU commission announced that it may restrict waste exports including metal scrap to non-OECD countries. In yesterday’s formal announcement, the commission proposed revised legislation on […] The post SMA: Are Scrap Export Restrictions the Next Topic for the U.S. and EU to Address? appeared first on Steel Market Update.
By CRU Senior Analyst Thais Terzian and Analyst Chris Bandmann, from CRU’s Crude Steel Market Outlet, Nov. 15 There is currently a lot of market discussion that the EU may act to restrict scrap exports. Here we look at who could be hurt and who might see opportunities. Other regions have already acted to protect […] The post CRU: Turkey Set to Lose if the EU Bans Scrap Exports appeared first on Steel Market Update.