TSI Iron Ore: Prices Stay Firm, Future Is Uncertain… After breaking through the psychological ceiling of $140/ ton a couple of weeks ago, the iron ore spot market has retreated ever so slightly to $137. While this is not necessarily an indication of a reversal in the pricing trend, it may shed light on […] The post Iron Ore, Scrap Futures Face Uncertainties appeared first on Steel Market Update.
The Far East and Southeast Asian ferrous scrap markets have been on the uptrend since the end of July. Since mid-July, scrap prices have risen approximately $20-$25/metric ton. This coincides with Tokyo Steel in Japan increasing scrap prices twice by approximately $24/MT. The increase in scrap prices were reactionary as steel stockists ramped purchases from […] The post Asian Scrap Markets: Have Prices Hit a Plateau? appeared first on Steel Market Update.
Steel Market Update sources are forecasting slightly lower shredded scrap prices in the Midwest and Ohio Valley as we prepare to move into September. Prime grades (such as #1 busheling) are forecast to be sideways to down slightly and cut grades are forecast to move sideways across most areas of the country. This is what […] The post Scrap Prices for September Forecast Sideways to Slightly Lower appeared first on Steel Market Update.
Sims Metal Management, a metals and electronics recycler headquartered in Australia, announced North American results for FY 2013 ending June 30, 2013. Underlying EBITDA for North American operations rose 30 percent year-over-year to $102.3 million. (Underlying EBITDA is a measure of the actual profits realized by a company used for business process planning, rather than […] The post Sims Reports Lower Results for FY 2013 appeared first on Steel Market Update.
U.S. Midwest #1 Busheling Ferrous Scrap (AMM) Typically Quiet Mid-Month Market While the HRC futures market is experiencing a summer lull, the AMM Busheling contract has been virtually non-existent the past few weeks. After the physical market for busheling priced sideways this month the futures market has not reacted. It seems that the usual pattern […] The post Iron Ore & Scrap Futures appeared first on Steel Market Update.
Written by: Bradley Clark, Director of Steel Trading, Kataman Metals TSI Iron Ore: Prices Up, Up and Away… Iron Ore over the past few weeks remains a true bright spot in the commodities complex as stronger than expected summer steel demand in China has driven prices to highs not seen in months and monthly shipments […] The post Iron Ore & Scrap Futures: Up, Up and Away and Firm in a Sideways Market appeared first on Steel Market Update.
Written by: Bradley Clark, Director of Steel Trading, Kataman Metals The HRC futures market has been exceptionally quiet over the past few weeks with almost no volume trading as the recent price hikes, uncertainty of pricing going forward and middling futures pricing has led most traders to sit on the sidelines awaiting the next price […] The post Hot Rolled Futures Hold Steady in the Face of an Uncertain Physical Market appeared first on Steel Market Update.
U.S. Midwest #1 Busheling Ferrous Scrap (AMM) Prices Drop as an April Pullback Looks Likely After prices for March settled up $40+ the market for April already is starting to shape up significantly weaker. Dealers succeeded in pushing up prices last month but currently it looks like April will be down at least $20 t […] The post U.S. Ferrous Scrap, Iron Ore & Billet Futures appeared first on Steel Market Update.
Written by: Bradley Clark, Director of Steel Trading, Kataman Metals U.S. Midwest #1 Busheling Ferrous Scrap (AMM) Firm on Weather Concerns As the beginning of the month progresses the physical scrap market has begun to price higher lending impetus to the futures market to begin trading. After months of stagnant and softer busheling markets, March […] The post Scrap, Iron Ore & Billets Futures Update appeared first on Steel Market Update.
The CME Group announced it had record volumes for its NYMEX U.S. Midwest Hot-Rolled Coil Steel Index futures (HRC) and options (HRO). During the month of February HRC futures recorded 6,619 contracts eclipsing the previous record set in January 2012 of 6,214 contracts. At the same time HRO (options) contracts which have only been available […] The post Final Thoughts appeared first on Steel Market Update.