Scrap Consumers: Steel Mills

Steel Market Update saw an interesting report on the impact of lower scrap prices to the steel industry. The report was produced by metals and mining analysts, Timna Tanners of Bank of America Merrill Lynch Research for her clients. A question Steel Market Update receives on a regular basis is what is the marginal cost […] The post Timna Tanners: “New Normal” Range for Hot Rolled Coil = $450 to $580 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.

During Nucor’s earnings conference call the company’s CEO, John Ferriola told the analysts that scrap prices would drop “dramatically” during the 1st Quarter 2015. He told the analysts that steel prices have already gone down and scrap prices “have to” follow. Our scrap sources are telling us that lackluster demand at the steel mills, weak […] The post Ferrous Scrap Prices Poised for Sharp Downturn in February appeared first on Steel Market Update.

As we reported last week, the $30 per ton ferrous scrap price increases failed to materialize once January negotiations began in earnest. A couple lucky deals were made up $20-$30 just as December ended and January began. However, those deals dried up almost as fast as the ink dried on the paper. We are hearing […] The post Scrap Prices Fizzle Due to Steel Industry Slowdown appeared first on Steel Market Update.

Ferrous scrap prices were forecast to be up $30 per gross ton as little as one week ago. According to one of our East Coast dealers there were some early sales at up $20 to $30 to those steel mills who needed to buy immediately. However, those deals were few and far between and the […] The post Oil’s First Casualty: Ferrous Scrap Pricing appeared first on Steel Market Update.

Most ferrous scrap pricing deals will be negotiated between the domestic steel mills and their suppliers over the next few days. Steel Market Update sources are telling us scrap prices could move up by $10 to $30 per gross ton or more depending on product and the region of the country. Mike Marley of MetalPrices.com […] The post Scrap Prices Expected to Go Up in January in Short-Lived Rally appeared first on Steel Market Update.

We ended the article above talking about the tight range we have seen on hot rolled coil over the past 12 months. Total price movement from low to high during that time period has been $65 per ton. The question is, will U.S. hot rolled coil prices break through the low of the past 12 […] The post Ferrous Scrap, Iron Ore & Steel Prices 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.

As one of our scrap sources out on the East Coast put it on Friday, talk within scrap circles is very negative for November and the market is poised for another move lower. “Domestic demand for November scrap seems lackluster and export demand at this point – I think everyone knows the story there – […] The post November Scrap Prices Forecast to Drop by $20 appeared first on Steel Market Update.