The following article on the Asian scrap markets was written by Damon Sun one of Steel Market Update contributing writers and an active participant in the Asian ferrous scrap markets: From last week onwards, the Far East Asian scrap markets have been weakening on the containerized sales, but the bulk scrap sales have insisted and […] The post Asian Scrap Markets: Price Slide Until End of August appeared first on Steel Market Update.
The Detroit scrap market settled on Monday with cut grades (such as heavy melt or HMS) rising by $10 per gross ton and shredded scrap by $15 per gross ton. Prime grades, such as #1 busheling traded sideways compared to last month. Our scrap sources are telling us that the best deals made (from a […] The post Scrap Market Has Upward Blip Now Trending Sideways appeared first on Steel Market Update.
Our ferrous scrap sources are advising Steel Market Update that June saw the bottom to scrap prices and July will see prices move sideways (no change) to as much as up $20 per gross ton. If scrap prices do indeed rise by as much as $20 per ton, this could be important for steel buyers […] The post Ferrous Scrap Prices Bottomed in June – Sideways to Up $20 in July (maybe…) appeared first on Steel Market Update.
Our ferrous scrap sources are advising Steel Market Update that June saw the bottom to scrap prices and July will see prices move sideways (no change) to as much as up $20 per gross ton. If scrap prices do indeed rise by as much as $20 per ton, this could be important for steel buyers […] The post Ferrous Scrap Prices Bottomed in June – Sideways to Up $20 in July (maybe…) appeared first on Steel Market Update.
Andre Marshall, CEO of Crunchrisk and our Managing Price Risk I & II workshops instructor writes about the financial and futures markets, including hot rolled futures and busheling scrap futures trading over the past week. You will also be able to see Andre speak at our Steel Summit Conference in September (3 & 4) in […] The post Hot Rolled Futures: Island Living appeared first on Steel Market Update.
According to SMU sources, last week ArcelorMittal USA raised the minimum selling price on secondary grades of steel to approximately $500-$520 per ton ($25.00/cwt-$26.00/cwt). This has caused some concern within the industry with one fabricator who has been involved with secondary steel for the past 15 years reporting to Steel Market Update, “…I have been […] The post Steel Mills Push to Get Higher Secondary Price Minimums appeared first on Steel Market Update.
We have been working on trying to get a handle on scrap prices and adjustments in the costs the domestic steel mills will have for scrap during the month of June. SMU sources advised us that with the exception of prime grades of scrap most mills cancelled their remaining orders at the end of the […] The post Shredded Scrap Was Weakest Grade in June Trading appeared first on Steel Market Update.
Ferrous scrap negotiations have begun between the U.S. and Canadian steel mills with most mills expecting lower prices. One way we know if the mills believe prices will fall is they will cancel any remaining orders from May that have not yet been completed from their scrap suppliers in the hopes of being able to […] The post Scrap Pricing Floor May Hinge on Turkish Buying appeared first on Steel Market Update.
Ferrous scrap price negotiations are beginning with at least one deal getting done in Detroit within the past few days at down $22 per gross ton. However, as one scrap dealer explained to us earlier today, scrap prices are all over the board. There are steel mills who are bringing furnaces back online and others […] The post Early Ferrous Scrap Indications are Down $5 to $22 per ton appeared first on Steel Market Update.
U.S. and Canadian steel mills continue to keep a firm grip on pricing as supply (production) related problems keep lead times extended on most products. We are seeing the impact of foreign galvanized and Galvalume imports influencing at least one coated steel mill in the South. Domestic buyers appear to be accepting the higher prices […] The post SMU Price Ranges & Indices: Sideways But Firm appeared first on Steel Market Update.