Market: Trade

World Steel Exchange Marketing (WSEM) announced that the US Shredded Steel Scrap TSI Index will begin futures trading on the Nasdaq Commodities Exchange (Stockholm) as of March 29, 2016. The 20-gross-ton USA Midwest shredded steel contract will be listed, and quoted, for the current month and each of the next 11 months. The contract will […] The post US Shredded Steel Scrap Futures Trading Coming to Nasdaq appeared first on Steel Market Update.

It was only a few weeks ago that many within the ferrous scrap community felt when the negotiations were over for the month of March and the smoke cleared scrap prices would be essentially unchanged from February. That was then, this is now. One of the larger players in the market told us earlier today, […] The post Scrap Prices Moving Higher appeared first on Steel Market Update.

The following article on the hot rolled coil (HRC), busheling scrap (BUS), and financial futures markets was written by Andre Marshall, CEO of Crunch Risk LLC and our Managing Price Risk I & II instructor. Assisting Andre with tonight’s article is Jack Marshall also associated with CrunchRisk. Here is how Andre and Jack saw trading […] The post Hot Rolled Futures: Pit in Your Stomach appeared first on Steel Market Update.

Pete Meyers, Vice President of Ferrous Scrap Sales & Marketing for Metalico advised Steel Market Update this morning as to what they saw for trading for the month of February: “The Feb scrap market has indeed traded sideways.  There were instances of higher sales based on individual mills having to reach remote tons, and mills […] The post February Ferrous Scrap Market Trades Sideways appeared first on Steel Market Update.

Steel Dynamics’ struggling recycling segment widened the company’s net loss to $253 million in fourth quarter 2015. It was determined that the book value of the metals recycling segment recorded $435 million in non-cash goodwill and other related asset impairment charge. Excluding the metals recycling charges, adjusted net income was $22 million on net sales […] The post SDI Reports Continued Growth in Construction, HR Weakest Product appeared first on Steel Market Update.

We are pleased to have Philip Hoffman, Chairman & CEO of Hoffman Iron & Steel provide us his unique insights on both the domestic and international scrap markets as well as his forecast for where international and domestic scrap prices will be headed in the next month or two (and why). As most are aware, […] The post Ferrous Scrap Wrap Up First Week of January 2016 appeared first on Steel Market Update.

In the first eleven months of 2015 bulk scrap exports were 11,762,000 tonnes for an annual rate of 12,831,000 tonnes, down by 17.5 percent from the first eleven months of 2014. The tonnages shown in Figure 1 are based on three month moving averages (3MMA) for 2015 and on the annual monthly average for previous […] The post Ferrous Scrap Exports through November Down 17.5% YOY appeared first on Steel Market Update.

I will be in our home office all week this week (a rarity lately). Next week we will be in Starkville, Mississippi to conduct our Steel 101 workshop. Thank you again to Steel Dynamics Columbus for working with SMU and allowing our group to tour the Columbus facility. We remind everyone who has been thinking […] The post Final Thoughts appeared first on Steel Market Update.

The scrap markets are still sorting themselves out as the domestic steel mills and dealers jostle for position with the dealers looking like they will be the victors in this go-around for January deliveries. We are hearing early trades in Chicago as being done at up $20 per ton with one of our sources telling […] The post Steel Mills Need to Buy Ferrous Scrap Pushing Prices Higher by $5-$20 appeared first on Steel Market Update.

The following article is by contributing writer Damon Sun of Daido International. The Asian markets were anticipating the elimination of China’s export tax rebate, which has not happened yet.  Likely, it will not happen.   Anticipation of the elimination of China’s export tax rebate would have an impact of 9-13 percent increase in China’s exports of […] The post Asian Scrap Markets Waiting for Chinese Export Tax Rebate Change appeared first on Steel Market Update.