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 Due to the Monday UK bank holiday and the Atlanta SMU Steel Summit Conference this week, we had a slow start to […] The post Steel Futures: Steep Backwardation Persists in Final Months of 2018 appeared first on Steel Market Update.
Recent price changes have been mixed for steelmaking commodities. In the last three months, coking coal and iron ore have trended up as pig iron, scrap and zinc have trended down. Table 1 summarizes the September prices of the five materials considered in this report and the month/month, three months/three months and year/year change. Iron […] The post Raw Material Prices: Iron Ore, Coking Coal, Pig Iron, Scrap and Zinc appeared first on Steel Market Update.
Steel Market Update expects to welcome nearly 900 executives to our Steel Summit Conference in Atlanta Aug. 27-29. There is still time to sign up if you would like to be one of them. To register, visit: www.SteelMarketUpdate.com/Events/Steel-Summit or by contacting our office at 772-932-7538. See the full conference program below: Making Sense Out of […] The post 2018 Steel Summit Program appeared first on Steel Market Update.
Effective Monday, August 13, the Trump administration doubled the tariffs on steel imports from Turkey to 50 percent, stunning the market and setting off a wave of speculation on how this trade action may impact the steel and scrap markets in North America. A tweet from President Trump early Friday set the change in motion: […] The post Steel Execs Anticipate Fallout from Trump Tariff on Turkey appeared first on Steel Market Update.
Steel pricing is the product of a complex interplay between supply and demand, along with other factors such as ferrous scrap prices, imports and government trade actions. Steel Market Update canvasses steel executives twice each month with its market trends questionnaire to take the pulse of the industry. The current prevailing view shows supplies tightening, […] The post SMU Market Trends: Supply, Demand, Pricing appeared first on Steel Market Update.
Steel Market Update’s latest look at commodity prices shows pig iron up, iron ore and zinc down, and coking coal and scrap stable in recent trading. Table 1 summarizes the current prices of the five materials considered in this report and the year-over-year change. Iron Ore The price of 62% fines delivered North China was […] The post Raw Material Prices: Scrap, Zinc, Iron Ore, Coke, Pig Iron appeared first on Steel Market Update.
As of the first week of September, with the market still unsettled, ferrous scrap was expected to trend down for the month by another $20 per ton for obsolete grades and perhaps that much for prime, report Steel Market Update sources. On Friday afternoon, we did hear that prices settled in some of the markets […] The post Ferrous Scrap Down $20-$25 in Early September Trades appeared first on Steel Market Update.
Following on declines in August and September, ferrous scrap prices in October are settling at an increase of $20 per ton for prime grades and $10 per ton for obsolete grades, according to Steel Market Update sources. A dealer in the Northeast reports that the Detroit market has bought Busheling at $390/GT, up $20; Shredded […] The post Ferrous Scrap Prices Up in Early October Trades 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 HR futures volumes rose sharply this week as decent volumes were traded in all months from Aug’18 through Jun’19. Over 72,000 […] The post Hot Rolled Steel and Scrap Futures: HR Volumes Up appeared first on Steel Market Update.
Nucor’s consolidated net earnings in the second quarter of 2018 jumped to $683.2 million, the second highest quarterly earnings in the company’s history. In comparison, earnings were $354.2 million in the first quarter and $323 million in Q2 2017. Nucor’s Chairman and CEO John Ferriola attributed the successful quarter to an upturn in the steel […] The post Nucor Nearly Doubles Net Earnings in Q2 appeared first on Steel Market Update.