Scrap Consumers: Steel Mills

Steel Market Update has been diligently working toward completing our SMU Steel Summit Conference agenda. We have been intentionally taking our time as we wait for market developments to mature and provide guidance as to what subjects will be the most pressing to the manufacturing companies, fabricators, steel distributors, steel mills, trading companies, toll processors […] The post Steel Summit Agenda is Strong and Getting Stronger appeared first on Steel Market Update.

Steel Market Update has been diligently working toward completing our SMU Steel Summit Conference agenda. We have been intentionally taking our time as we wait for market developments to mature and provide guidance as to what subjects will be the most pressing to the manufacturing companies, fabricators, steel distributors, steel mills, trading companies, toll processors […] The post Steel Summit Agenda is Shaping Up appeared first on Steel Market Update.

Led by the Detroit scrap buyers, ferrous scrap traded sideways in most markets that had been concluded by the end of the day on Friday. Shredded scrap prices in the Detroit area were unchanged at $330-$345 per gross ton, while prime grades continue to trade at $370-$380 per gross ton. There were few if any […] The post February Ferrous Scrap Trades Sideways appeared first on Steel Market Update.

Three weeks ago, the expectation for February ferrous scrap was for prices to be firm to slightly higher than January. This was due to rising prices on exports of ferrous scrap to Turkey, as well as cold weather in the north and large buys by the domestic steel mills as they restock after running inventories […] The post ‘Sloppy Sideways’ Expected for February Scrap Pricing appeared first on Steel Market Update.

As of late Friday, Steel Market Update ferrous scrap sources reported that scrap negotiations were ongoing and had not yet settled for the month of January. We heard late in the week of one Detroit-area mill paying up $20 per gross ton on prime grades and up $30 per gross ton on cut grades. We […] The post Final Thoughts appeared first on Steel Market Update.

Nucor led the charge of the East Coast flat rolled steel mills in an effort to keep prices moving higher. On Wednesday, Nucor, followed by U.S. Steel, put out announcements advising customers of their intention to raise spot flat rolled prices by $40 per ton. Soon after, NLMK USA and AK Steel followed Nucor’s lead […] The post Flat Roll Mills Seek New Price in New Year appeared first on Steel Market Update.

We are hearing that ferrous scrap prices will rise by $20 to $30 per gross ton this month. Negotiations continue at most of the mills, but we did learn of one Detroit mill settling yesterday up $20 on primes (busheling/bundles) and up $30 on the other grades. The cold weather, strong exports and low inventory […] The post Final Thoughts appeared first on Steel Market Update.

The following industry data, current through the end of the month of December 2017, covers a number of important indices and drivers of steel prices, as well as supply and demand. As the month ended, the Steel Market Update (SMU) Price Momentum indicator was referencing higher flat rolled steel prices over the next 30 to […] The post December at a Glance appeared first on Steel Market Update.

The year 2017 proved a bit “odd” as the threat of political action against foreign steel worked against the domestic steel mills. Early in the year, newly crowned President Trump authorized the U.S. Department of Commerce, led by former steel magnate Wilbur Ross, to investigate if the steel industry is essential to the U.S. for […] The post 2018 – Will Political Risks Trump Steel Cycles? appeared first on Steel Market Update.

The ferrous scrap market is heading higher. In a surprise to scrap experts (and probably the mills), prices are rising with some early deals done at +$20 per gross ton on prime grades and +$30 per gross ton on everything else. That is where Detroit settled earlier this week. Steel buyers need to be aware […] The post Scrap Negotiations Yield Higher Numbers Than Expected appeared first on Steel Market Update.