Steel Market Update’s Steel Buyers Sentiment Index dipped below the +50 mark and continued to erode last month as the uncertainty over tariffs and trade had a negative effect on buyers’ attitudes. With OEM and service center executives feeling less positive about their prospects for the next few months, as indicated by SMU Future Buyers […] The post May at a Glance: Sentiment Sags appeared first on Steel Market Update.
Coking coal, scrap and zinc prices have weakened in the last month. Table 1 summarizes the price changes through April of the five materials considered in this analysis. It reports the month / month, 3 months / 3 months and 12 months / 12 months changes and tells us that at the three-month level only […] The post Raw Material Prices: Iron Ore, Coking Coal, Pig Iron, Scrap and Zinc 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: Finally some follow through lower in both steel and scrap futures prices. Should flattish forward curves be a concern? Steel The latest […] The post Hot Rolled Futures: Finally Some Follow Through appeared first on Steel Market Update.
Following a slower than expected first quarter, activity has begun to pick up in the nonprime/secondary steel market, report service center executives. “Maybe that’s good news for April going forward,” said Lisa Goldenberg, president of Delaware Steel of Pennsylvania, Fort Washington, Pa. Nonprime or secondary steel includes coils that are rejected because they failed to […] The post Signs that Secondary is Springing Forward appeared first on Steel Market Update.
Steel Market Update is pleased to share this Premium content with Executive-level members. For more information on how to upgrade to a Premium-level subscription, email info@SteelMarketUpdate.com. This is a quarterly analysis that SMU performs using data from the Iron and Steel Statistics Bureau in the UK. We believe that to improve our understanding of the […] The post Global Scrap Market: U.S. Continues to Increase Share appeared first on Steel Market Update.
Raw materials prices have lacked direction in the last month. Table 1 summarizes the price changes through March of the five materials considered in this analysis. It reports the month / month, 3 months / 3 months and 12 months / 12 months changes and tells us that iron ore and pig iron declined in […] The post Raw Material Prices: Iron Ore, Coking Coal, Pig Iron, Scrap and Zinc appeared first on Steel Market Update.
Editor’s note: The following comments on where ferrous scrap settled for April come from one of SMU’s sources: U.S. scrap market prices gave way to a lull in export demand, mill outages and a perceived increased flow of obsolescent scrap due to the onset of spring weather. It ignored the flooding, which has inhibited the flow […] The post Ferrous Scrap Settles Down $20 for April appeared first on Steel Market Update.
April saw steel prices lose momentum as hot rolled dipped to an average of $662, cold rolled to $803 and galvanized G90 to less than $900 per ton. Even plate, which has been in tight supply, has now moderated to around $964 per ton from prices near or above $1,000 earlier in the year. Steel […] The post April at a Glance appeared first on Steel Market Update.
Ferrous scrap prices for June are difficult to predict, report Steel Market Update sources, who disagree on the degree to which the lower tariffs on Turkish steel will affect demand for scrap exports from the U.S. Most expect scrap prices to settle sideways next month after declines for most of the year, but a small […] The post June Ferrous Scrap Prices Tough to Call appeared first on Steel Market Update.
Ferrous scrap prices are poised to drop substantially in May, anywhere from $20 to $50 per gross ton, predict Steel Market Update sources, adding to the downward price momentum on finished steel. Scrap prices moved down or sideways in three of the first four months of the year. CRU North America steel analyst Ryan McKinley […] The post Ferrous Scrap Prices Poised for Another Drop in May appeared first on Steel Market Update.