Virgin steel is made with iron ore, coke and limestone. It was done that way, and only that way, for many decades. Then along came the “mini” mills. So-called minimills recycle ferrous scrap, mixing it with pig iron or other iron units and melting it down in large electric arc furnaces to produce new steel. […] The post Seats Still Available for California Steel 101 Workshop appeared first on Steel Market Update.
By CRU Analyst Alexander Ordosch After several weeks of steady Turkish scrap, import prices were stable last week at $225 /t CFR for HMS 80:20. We have assessed seven deals totaling about 274 kt, indicating a second week of strong scrap purchasing activity. Turkish scrap import prices have now reached a level that allows Turkish steel mills to export […] The post CRU: Turkish Scrap Import Price Stable, for Now… appeared first on Steel Market Update.
Virgin steel is made with iron ore, coke and limestone. It was done that way, and only that way, for many decades. Then along came the “mini” mills. So-called minimills recycle ferrous scrap, mixing it with pig iron or other iron units and melting it down in large electric arc furnaces to produce new steel. […] The post SMU Steel 101 Workshop – Changing with the Industry appeared first on Steel Market Update.
Virgin steel is made with iron ore, coke and limestone. It was done that way, and only that way, for many decades. Then along came the “mini” mills. So-called minimills recycle ferrous scrap, mixing it with pig iron or other iron units and melting it down in large electric arc furnaces to produce new steel. […] The post SMU Steel 101 Workshop – Changing with the Industry appeared first on Steel Market Update.
BY CRU Analyst Alexander Ordosch For the week ending Sept. 20, Turkish scrap import prices fell for the seventh consecutive week to $228 /t CFR for HMS 80:20, down $11 /t w/w. We assessed two deals from the UK totaling 37 kt of scrap. The current price is the lowest in the weekly price assessment on record and the lowest level […] The post CRU: Turkish Scrap Import Prices Fall to Lowest Level Since 2016 appeared first on Steel Market Update.
Ferrous scrap prices are starting to settle as of today. Initial checks with some of our scrap sources found prime grades down $40 and obsolete grades down $30 in portions of the Midwest. We learned the Cleveland area mills bought busheling down $20 to $300/gross ton. We also learned of a purchase of HMS at […] The post Final Thoughts appeared first on Steel Market Update.
Ferrous scrap prices are widely expected to move up in August anywhere from $10 to $30 per ton, lending support to higher finished steel prices. “Most of the trade on both sides of the aisle are expecting the August market to strengthen, though there is debate on how much,” said one Steel Market Update source. […] The post Steel Prices Likely to Get Support from Higher Scrap in August appeared first on Steel Market Update.
Ferrous scrap prices for July settled down $10 per ton in the Western Pennsylvania/Ohio/Indiana markets, stayed sideways in the southern markets, and saw a combination of the two at points west, reported Steel Market Update sources. “This is a far cry from recent expectations of down $20-30/GT and represents what I believe is the bottom […] The post July Scrap Down Just $10—Is This the Bottom? appeared first on Steel Market Update.
Declining ferrous scrap prices are expected to finally bottom in July, but only after backsliding by at least $10 per ton for one more month, predict Steel Market Update sources. Flat rolled steelmakers announced a $40 per ton increase in finished steel prices this week, which brings increased scrutiny to the price of scrap. Scrap […] The post Will Ferrous Scrap Prices Find the Bottom in July? appeared first on Steel Market Update.
Last night, Steel Market Update participated in the annual Bank of America Merrill Lynch dinner hosted by metals and mining analyst Timna Tanners. We also spoke at the CRU Steel Briefing a little earlier in the day. Here are some of the key takeaways from those meetings. Mill Lead Times Short Flat rolled steel mill […] The post Notes From New York City Steel Meetings appeared first on Steel Market Update.