The engines are warming up and the expectation is for a better 2017 than 2016. The data we collected today was not significantly different than what we were seeing one week ago. Many mills are telling their customers they are on an “inquire only” basis when it comes to new spot orders. We are also […] The post SMU Price Ranges & Indices: Gentlemen Start Your Engines appeared first on Steel Market Update.
The following article on the hot rolled coil (HRC) futures markets was written by David Feldstein. As Flack Steel’s director of risk management, Dave is an active participant in the hot rolled coil (HRC) futures market and we believe he will provide insightful commentary and trading ideas to our readers. Besides writing Futures articles for […] The post The Future of Ferrous Futures – Looking Ahead to 2017 appeared first on Steel Market Update.
Since Tuesday Steel Market Update has received more input regarding the ferrous scrap markets and what we may be looking at regarding negotiations as we head into the month of January. We asked a couple of questions to World Steel Dynamic’s scrap guru, Mike Markley and this is what he told us: Initial thoughts are […] The post Ferrous Scrap Availability Could be “Tight” if Turkish Mills Enter Market appeared first on Steel Market Update.
If you are a steel buyer thinking that this rash of price increase announcements has run its course you may want to re-think the market forces again. One of the major scrap exporters booked a cargo of 80/20 mix to Turkey at $296 per metric ton delivered. They also sold shredded scrap at $301 delivered. […] The post Turkey Export Order a Sign of Higher Scrap Prices Come January appeared first on Steel Market Update.
Ferrous scrap prices are poised to increase to the domestic steel mills and negotiations are under way. The domestic mills did not cancel the open orders that have not yet been delivered which is a sure sign that they expect prices to be higher in December than what they negotiated in November. A pig iron […] The post Early December Scrap Negotiations Suggest Market will be Up $30-$40 appeared first on Steel Market Update.
This evening’s issue is a bit different than most Sunday evenings. With the Thanksgiving Holiday and most steel-related businesses being closed on Friday the amount of direct news was limited. We do have a couple of articles about new home sales. oil rigs and durable goods but, I spent a good portion of my 5 […] The post Final Thoughts appeared first on Steel Market Update.
As we discussed earlier this week, higher international prices for iron ore, coking coal, pig iron and steel are helping take ferrous scrap export prices higher. SMU had lunch with one of our scrap/pig iron experts who advised that 80/20 scrap export prices may have reached $280 per metric ton delivered. At the same time, […] The post Watch Scrap Prices Lead Flat Rolled Prices Higher appeared first on Steel Market Update.
Steel buyers and steel mill sellers are beginning to come to the same conclusion, the steel mills have the momentum and flat rolled steel prices are beginning to rise. What may be surprising steel buyers, especially those who do not read publications like Steel Market Update, is the pace and the strength of the market […] The post SMU Price Ranges & Indices: Mills Have Momentum, Prices Moving Higher appeared first on Steel Market Update.
Steel Market Update (SMU) ferrous scrap sources advised us over the weekend that strength in the Ohio Valley, as well as in the export markets, has led to ferrous scrap prices trading higher than originally thought. Talks continue in many of the regions of the country which have not yet completed scrap pricing negotiations for […] The post November Scrap Prices Moving Higher than Expected appeared first on Steel Market Update.
I have had a number of conversations with steel mills and steel buyers regarding when the next flat rolled steel price increase would be announced by the domestic mills? My opinion is the mills will use the new ferrous scrap settlement prices combined with stronger order books as the reasons for going out after perhaps […] The post Final Thoughts appeared first on Steel Market Update.