The ferrous scrap markets have been all about doom and gloom up until the past couple of days. Obsolete grade and shredded scrap were reported trading down $25 per ton in Brazil. Prime grades were down $10 per ton. Our sources were telling us export prices were down and the exporters off the east coast […] The post Surprise! Scrap Prices Firming as February Negotiations Continue appeared first on Steel Market Update.
Over the weekend, we were able to discuss the status of ferrous steel scrap negotiations for February with a couple of scrap dealers as well as one individual associated with the pig iron markets. The Detroit areas mills were the first to settle and the decline in shred and obsolete grades was not as dramatic […] The post Early Scrap Down $25-$40 on Shred/Obsolete and $10-$35 on Primes 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 Finally getting some traction in HR futures here this past week as prices declined along the curve and especially in the […] The post Hot Rolled Futures: Gaining Some Traction appeared first on Steel Market Update.
SMU scrap sources are all telling us that the recent transactions with Turkey have “surprised” dealers, the net result may well be a much weaker domestic scrap market than anticipated as we move into February negotiations next week. A weaker scrap market, especially if it were to drop $35-$40 per gross ton would dampen price […] The post February Scrap Pricing Now Poised to Drop $20-$40 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 an active week even with the CME closed for Martin Luther King Day. This past week we have […] The post Hot Rolled Futures: Active Week Despite MLK Day appeared first on Steel Market Update.
Ferrous scrap price negotiations for January were slow to develop but by late Thursday and into Friday prices firmed and deals between the domestic steel mills and the scrap dealers were getting done. The two largest scrap buyers, David J Joseph (Nucor) and Omnisource (Steel Dynamics), entered the market late during the week at $30 […] The post Will Ferrous Scrap Prices Peak in January? appeared first on Steel Market Update.
January scrap negotiations have begun between the domestic (USA & Canada) steel mills and their scrap suppliers. As one large scrap company put it, “Things are slow to develop today, but I’m anticipating some movement by day’s end. This market has been sort of like a junior high dance at this point, with the reluctant […] The post Scrap Negotiations Ongoing, Early News Pointing Toward +$30-$40 appeared first on Steel Market Update.
The following article on the hot rolled coil (HRC) and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week: Steel Futures HR futures have been quiet going into the holiday week as reflected both in the curve values and in the spot […] The post Hot Rolled Futures: Thin Trading Due to Holiday Week appeared first on Steel Market Update.
This is our first ever write up of global scrap trade. We believe that to understand the gyrations of the domestic scrap market we should study where the US 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 […] The post Global Scrap Trade through Q3 2016 appeared first on Steel Market Update.
The following article on the hot rolled coil (HRC) futures markets was written by David Feldstein. As Flack Steel’s director of risk management, Dave is an active participant in the hot rolled coil (HRC) futures market and we believe he will provide insightful commentary and trading ideas to our readers. Besides writing Futures articles for […] The post The Future of Ferrous Futures – Looking Ahead to 2017 appeared first on Steel Market Update.