Ferrous scrap prices for October delivery into the domestic steel mills have so far this month declined by $10 to $20 per gross ton. Prices vary based on geographical region and product but our sources in Chicago advised us that their prices fell by $20 per gross ton on all products. We received the following […] The post Scrap Undergoing Fundamental Shift as Scrap Pricing Sags appeared first on Steel Market Update.
Ferrous scrap prices for shipment to the domestic steel mills around the country have been dropping since the negotiations began at the beginning of the month. For most geographical areas scrap prices have declined $15-$20 per gross ton compared to where they were at this point in time last month. Our Chicago area sources are […] The post Ferrous Scrap Prices Down $20 appeared first on Steel Market Update.
Below is an article on the Asian scrap markets from one of our contributing writers, Damon Sun of Daido International. The last few weeks were chaotic in the markets. Most Asian countries look to Taiwan for indications on market directions and a base for pricing. With the rapid decrease in prices in iron ore (abt […] The post Asian Scrap Prices Impacted by Chinese Billet Exports appeared first on Steel Market Update.
Ferrous scrap prices for October, which a couple of weeks ago were being forecast to move sideways (no change), are now looking as though they will drop $10 to $30 per gross ton. The Midwest and Southeast are expected to see the least price movement while those areas associated with exports (such as the East […] The post Ferrous Scrap Prices Forecast to Drop $10 to $20 per ton appeared first on Steel Market Update.
Steel Market Update (SMU) had been hearing that we should expect sideways scrap prices as we move into September. However, over the last couple of working days the signals are now pointing toward a strong sideways to slightly higher tilt to ferrous scrap pricing. We have heard numbers could go up as high as $10 […] The post Ferrous Scrap Prices for September: Firm Sideways to Up $10-$20 appeared first on Steel Market Update.
Ferrous scrap prices in the Midwest, Mid-Atlantic and East Coast have been moving sideways as the August negotiations come to a close. We are hearing from our scrap sources that the balance between supply and demand is quite good as flows have been solid and mill orders books are “decent.” Our scrap sources in Chicago […] The post August Scrap Numbers Moving Sideways, Pig Iron Firming appeared first on Steel Market Update.
SMU’s latest ferrous scrap report from Damon Sun of Daido International shows heavy melt scrap holding firm at $350/mt. Scrap imports from the US to Taiwan appear to be on hold. He reports recently selling 5000mt at $343/mt CFR Taichung. Kaoshiung was buying late last week at $348/mt but then stopped buying. Scrap from Thailand […] The post Asian Scrap Markets appeared first on Steel Market Update.
The domestic steel mills are not canceling any remaining open July scrap orders which is an indication that the mills are busy, need the scrap and do not anticipate being able to buy scrap for less money in August than they did in July. SMU scrap sources are telling us demand is good and supply […] The post August Ferrous Scrap Prices Expected to Tread Sidways to Up $10 appeared first on Steel Market Update.
Andre Marshall of Crunch Risk LLC has the honors this week to discuss the financial and HRC, iron ore and scrap futures markets in an attempt to make sense out of what can sometimes feel like total chaos. Financial Markets: Well we’re at all time highs again, having hit an intraday on the September S&P […] The post Hot Rolled Futures: New Highs appeared first on Steel Market Update.
Steel Market Update asked one of our Steel Summit Conference speakers, Mike Marley of MetalPrices.com to comment on why scrap prices moved lower as the month of July progressed compared to the early indications of higher ferrous scrap prices during the first few days of the month. Here is his response: There were a couple […] The post SMU Steel Summit Speaker Mike Marley Forecasting Lower Scrap Prices in August appeared first on Steel Market Update.