SMU contributor Gaurav Chhibbar is a partner at Metal Edge Partners, a firm engaged in Risk Management and Strategic Advisory. In this role, he and his firm design and execute risk management strategies for clients along with providing process and analytical support. In Gaurav’s previous role, he was a trader at Cargill spending time in […] The post Hot Rolled Futures: Activity Picking Up appeared first on Steel Market Update.
Lack of demand for ferrous scrap, especially in the Ohio Valley and Chicago market, forced prices down another $30-40/GT for October, on top of a similar decline in September, sources tell Steel Market Update. Scrap prices are their lowest in years, dropping eight out of the last 10 months. Shred prices today are around $215/GT, […] The post Ferrous Scrap Drops Another $30-40 Per Ton in October appeared first on Steel Market Update.
The following article discussing the global ferrous derivatives markets was written by David Feldstein. As an independent steel market analyst, advisor and trader, we believe he provides insightful commentary and trading ideas to our readers. Note that Steel Market Update does not take any positions on HRC or scrap trading, and any recommendations or comments […] The post Hot Rolled Futures: Seeking Support After Breaking Below $535 appeared first on Steel Market Update.
The global market share of U.S. scrap exports continues to increase, according to this quarterly analysis of data from the Iron and Steel Statistics Bureau (ISSB) in the UK. We believe that to improve our understanding of the gyrations of the domestic scrap market, we should be aware of where the U.S. stands as a […] The post Global Scrap Market: U.S. Share on the Increase appeared first on Steel Market Update.
The following article on the hot rolled coil (HRC) steel and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week: Steel A $17/ST drop in Midwest HR spot prices as reflected in the decline of the CME August HR average and the […] The post Hot Rolled Futures Prices Continue their Slide appeared first on Steel Market Update.
There have been some discussions recently with articles written about the global scrap trade and China. China is the world’s largest steel producing nation with 50 percent (or greater) of the world’s steel production. A couple of years ago, I received information from one of my Chinese trading contacts about scrap steel being exported out […] The post Final Thoughts appeared first on Steel Market Update.
Scrap prices are heading down and could dip below the $200/GT mark as the gap between scrap supplies and demand continues to widen. With mill operating rates declining under 80 percent and scrap export markets dropping drastically, expect steel prices to follow suit, said scrap consultant John Harris, CEO of Aaristic Services. Scrap is the […] The post Harris: “Scrap is the Bellwether for Global Steel Prices” appeared first on Steel Market Update.
By CRU Analyst Ryan McKinley Domestic scrap prices in the U.S. fell by $30-40 /l.ton in September depending on region and grade—by about $20 /l.ton lower than was generally expected by the market. The steeper-than-expected decline was caused by a confluence of factors including ample supply, mill outages and a weakening export market. Obsolete prices were […] The post CRU: Oversupply and Outages Push U.S. Scrap Prices Lower Than Expected appeared first on Steel Market Update.
Following on a small $20 increase in August, ferrous scrap prices for September are down $30 to $40 per ton as U.S. mills adjusted to lower demand and planned for upcoming fall shutdowns. “Prices fell this month amid a confluence of factors including ample supply, a weakening export market and mill outages,” reported CRU North […] The post Ferrous Scrap Drops $30-40 Per Ton in September appeared first on Steel Market Update.
The following article on the hot rolled coil (HRC) steel and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week: Steel In the last 30 days we have seen the prices in the HR forward curve drop by an average of $70/ST […] The post Hot Rolled Futures & BUS Futures Continue Their Descent appeared first on Steel Market Update.