Ferrous scrap prices have declined a bit in May, reported Steel Market Update sources, due to weakness in the export market and warmer spring weather that aided scrap collection and boosted supplies. Looking ahead to June, sources expect further change, but they disagree on the degree and direction. In the Ohio Valley, prices declined, but […] The post Ferrous Scrap Prices Decline in May, June Unclear appeared first on Steel Market Update.
Steel Market Update’s scrap sources expect ferrous scrap prices to drop by at least $10-$20 per ton in May, and possibly as much as $30-$40 per ton, as spring weather increases the scrap flows and boosts supply. Adding to the downward pressure on prices, they report, is weakness in the global market. One dealer in […] The post Ferrous Scrap Prices Expected to Decline in May appeared first on Steel Market Update.
Steel Market Update’s scrap sources expect ferrous scrap prices to drop by at least $10-$20 per ton in May, and possibly as much as $30-$40 per ton, as spring weather increases the scrap flows and boosts supply. Adding to the downward pressure on prices, they report, is weakness in the global market. One dealer in […] The post Ferrous Scrap Prices Expected to Decline in May appeared first on Steel Market Update.
Steel Dynamics reported a very strong first quarter with record shipments in the flat rolled division and a 94 percent utilization rate, well above the domestic industry average of 76 percent. Demand and product pricing improved across SDI’s entire steel platform. Net sales totaled $2.6 billion for the quarter and net income was $228 million. […] The post SDI Seeks “Prudence” in Section 232 Tariffs 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 spot prices continued higher this past week with prices reportedly trading in the mid $860’s. Meanwhile, in April thus far, […] The post Hot Rolled Steel and Scrap Futures appeared first on Steel Market Update.
Steel Market Update’s sources report that ferrous scrap prices have increased by $5 to $15 per gross ton in April, depending on the type and region. Some predict scrap prices are likely to decline in May. Strong domestic demand is the key driver of rising scrap prices, said one dealer in the North. “With few […] The post Ferrous Scrap Prices Rise in April, to Decline in May? appeared first on Steel Market Update.
First, ferrous scrap prices are rising for delivery during the month of April. However, our sources are telling us that the increases are not at the $20-$30 per gross ton suggested a few days ago. The mills are playing hardball and the sense is that prices will drop in May, so dealers are taking what […] The post Final Thoughts appeared first on Steel Market Update.
China will control the global ferrous scrap market, it’s just a matter of time, says scrap expert John Harris of Aaristic Services, Inc. China produces about half the world’s steel every year and has accumulated a scrap reservoir more than sufficient to meet its domestic steelmaking needs. There is little reason for China to import […] The post China’s Poised to Disrupt the Ferrous Scrap Market appeared first on Steel Market Update.
Steel Market Update has been diligently working toward completing our SMU Steel Summit Conference agenda. We have been intentionally taking our time as we wait for market developments to mature and provide guidance as to what subjects will be the most pressing to the manufacturing companies, fabricators, steel distributors, steel mills, trading companies, toll processors […] The post Steel Summit Agenda is Strong and Getting Stronger appeared first on Steel Market Update.
Steel Market Update has been diligently working toward completing our SMU Steel Summit Conference agenda. We have been intentionally taking our time as we wait for market developments to mature and provide guidance as to what subjects will be the most pressing to the manufacturing companies, fabricators, steel distributors, steel mills, trading companies, toll processors […] The post Steel Summit Agenda is Shaping Up appeared first on Steel Market Update.