The year 2017 proved a bit “odd” as the threat of political action against foreign steel worked against the domestic steel mills. Early in the year, newly crowned President Trump authorized the U.S. Department of Commerce, led by former steel magnate Wilbur Ross, to investigate if the steel industry is essential to the U.S. for […] The post 2018 – Will Political Risks Trump Steel Cycles? appeared first on Steel Market Update.
Steel Market Update performs this analysis of global scrap trade each quarter to help readers understand the gyrations of the domestic scrap market and where the U.S. stands as a global player. This data is not very current because some nations are slow to report, but we still believe it gives a valuable perspective on […] The post Global Scrap Trade: China’s a Net Exporter! appeared first on Steel Market Update.
Domestic steel orders are strong and flat roll prices are on the rise, which means demand from the mills is likely to push ferrous scrap prices higher in January. “All things are pointing up for ferrous scrap,” said a dealer in the Northeast. Obsolete grades should rise in higher proportions than primes, but all grades will […] The post Ferrous Scrap Prices to Rise in January? 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 had a bit of a flurry early this week following the price increase announcements by a number of mills. […] The post Hot Rolled Futures: Bit of a Flurry 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 markets have paused post Thanksgiving. While the HR spot prices have retraced $27/ST in the month of November to approximately […] The post Hot Rolled Futures See Post-Thanksgiving Pause 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 It has been a relatively light volume week in HR futures as the recent push higher in prices has left the […] The post Neutral HR Market Outlook Slows Rising HRC Futures Prices appeared first on Steel Market Update.
Ferrous scrap prices for the month of November began coming into focus on Friday with SMU scrap sources advising prime grades as being down $10 per gross ton compared to October levels. Obsolete and cut grades were reported as trading sideways (same prices as October). Not all regions are trading at the same pricing or […] The post November Scrap: Settling or Working Off the Bottom? appeared first on Steel Market Update.
Steel Dynamics and CEO Mark Millett are expecting a tighter steel market in the fourth quarter. After surging ahead of possible Section 232 trade action, import levels have declined and, coupled with strengthening order rates and longer lead times, steel prices are expected to appreciate significantly, said Millet in remarks during the company’s quarterly conference […] The post SDI: Positive Pricing Environment Ahead 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 It has been a very active trading week in HR futures along all portions of the curve as over 83,000 ST […] The post Futures: HR Rebounds on Mill Price Increases and Expected Longer Lead Times appeared first on Steel Market Update.
SMU published an article in Tuesday evening’s issue about the comments made by General John Adams on national security and the need for steel. The title of the article was “General Goes Nuclear in Support of Section 232.” We received a number of comments from that article wanting to know if we had fact-checked what […] The post Final Thoughts appeared first on Steel Market Update.