There appears to be a lot of uncertainty in the ferrous scrap and pig iron markets as we move into the second half of February and start taking a peak into what March scrap and pig iron pricing may look like. One of our pig iron sources advised SMU that many of the Brazilian pig […] The post Pig Iron and Ferrous Scrap Markets Still Under Pressure appeared first on Steel Market Update.
In the twelve months of 2014, ferrous scrap exports totaled 15,308,000 tonnes (metric tons), down by 17.1 percent from the same period in 2013. In the single month of December scrap exports were 1,056,570 tonnes, down 21.5 percent from November. Figure 1 shows that the three month moving average (3MMA) has been declining slightly for […] The post US Steel Scrap Exports Drop 17.1% During 2014 appeared first on Steel Market Update.
As we reported last week, prior to negotiations beginning for the month of February market players were predicting ferrous scrap prices would drop by $30-$50 and then $50-$70 per gross ton. Then we heard prices would drop by $100 per gross ton over the months of February and March combined. When the smoke cleared at […] The post Ferrous Scrap Pricing Drops $80 to $110 appeared first on Steel Market Update.
The domestic steel mills and their ferrous scrap suppliers traditionally negotiate pricing on scrap to be delivered during the first few days of the new month. This means the mills and their suppliers are deep into negotiations regarding February scrap purchases right now. Last week the word amongst the “scrappies,” as well as their mill […] The post Ferrous Scrap in Free Fall? appeared first on Steel Market Update.
Steel Market Update thought it might be worthwhile to pick out some of the comments made by Steel Dynamics CEO Mark Millett during his earnings conference call with analysts late last week. We have focused on comments made about foreign steel, scrap, energy markets and the new Columbus facility. Each of the comments made are […] The post Steel Dynamics CEO Talks Imports, Scrap, Columbus and Energy Markets appeared first on Steel Market Update.
Today’s hot rolled, ferrous scrap and iron ore futures article comes to us from Andre Marshall, CEO of Crunch Risk LLC and the instructor for Steel Market Update’s Managing Price Risk I and Managing Price Risk II workshops. Along with HRC, iron ore and BUS trading. Andre also discusses the S&P 500, copper and crude […] The post Hot Rolled Futures: Egads Hot Rolled Too! appeared first on Steel Market Update.
Today’s hot rolled, ferrous scrap and iron ore futures article comes to us from Andre Marshall, CEO of Crunch Risk LLC and the instructor for Steel Market Update’s Managing Price Risk I and Managing Price Risk II workshops. Along with HRC, iron ore and BUS trading Andre also discusses the S&P 500, copper and crude […] The post Hot Rolled Futures: The Other Shoe Drops appeared first on Steel Market Update.
Prior to the beginning of the month most scrap dealers were resigned to the fact that ferrous scrap prices would decline by $20 per gross ton and, in some remote areas, perhaps as much as $30. By the end of this past week the dust had settled and scrap prices had dropped by a minimum […] The post Scrap Dealers Surprised by the Magnitude of the Drop in Scrap Pricing appeared first on Steel Market Update.
Andre Marshall, well known commodity futures trader, CEO of Crunch Risk LLC and instructor for our Managing Price Risk I and II workshops has written today’s HRC futures article. Today he comments on the financial markets, steel, iron ore and ferrous scrap markets. Financial Markets: All time highs again in the stock markets. We are […] The post Hot Rolled Futures: Hope Springs Eternal appeared first on Steel Market Update.
China has a number of taxes on steel, both domestically and for exports. This is one of the misunderstandings many countries have (including the United States). We have been speaking about the subject with one of our key Asian trading contacts over the past few days as we asked about possible suspension of Boron added […] The post Chinese Taxes on Semi-Finished, Hot Rolled, Cold Rolled and Coated Steels appeared first on Steel Market Update.