Today is the 3rd of April and negotiations between the steel mills and their scrap suppliers continue in earnest. We heard from one of our sources that Detroit has settled up $10 per gross ton. Our source reported #1 Heavy Melt (HMS) at $365-$370 per gross ton, shredded scrap at $395-$400 per gross ton and […] The post April Scrap Negotiations appeared first on Steel Market Update.
With the various flat rolled indexes reporting hot rolled pricing approaching $680 per ton in the mill spot market we are quite close to the $685 announced by Nucor on April 4th and matched by a number of the domestic steel mills. The question now is will the mills attempt to move prices up to […] The post Final Thoughts appeared first on Steel Market Update.
The Asian scrap markets is currently stable and predicted to slow down both regarding demand as well as pricing over the next few weeks. Mainly, summer time electricity curtailments are scheduled to take effect in early May. Currently: • China Fe63.% Indian Iron ore at about $116-117/dmt. Somewhat stable +/-$1/dmt currently• Asian FX rates have […] The post Asian Scrap Markets Stable, Forecast to Slow Down appeared first on Steel Market Update.
Steel Market Update began this week with an article on Sunday evening titled, “This Could Be a Tumultuous Week.” Looking back over the past five days that title was an understatement. This week has been tumultuous times ten. Why? U.S. Steel can’t seem to catch a break. They now have steelmaking operations temporarily suspended at […] The post Steel Mills Pulling Offers & Raising Steel Prices appeared first on Steel Market Update.
Today is the 3rd of April and negotiations between the steel mills and their scrap suppliers continue in earnest. We heard from one of our sources that Detroit has settled up $10 per gross ton. Our source reported #1 Heavy Melt (HMS) at $365-$370 per gross ton, shredded scrap at $395-$400 per gross ton and […] The post April Scrap Negotiations appeared first on Steel Market Update.
Early indications are for April ferrous scrap prices in the Midwest to rise once we enter the next round of steel mill negotiations with their scrap suppliers. Steel Market Update (SMU) scrap sources are pegging the potential increase at $10 to $15 per gross ton. Other industry sources have it as moving even higher. Scrap […] The post April Scrap Prices Forecast to Move Higher – Steel Prices to Follow? appeared first on Steel Market Update.
Scrap prices in Detroit, Carolinas and Alabama have settled lower for March delivery according to SMU sources. Detroit ferrous scrap prices were reported to be down $20 per gross ton while the Carolinas were down $15-$20 and Alabama down $15 per gross ton. The main issue continues to be the lack of a firm scrap […] The post Final Thoughts appeared first on Steel Market Update.
A week ago the predictions regarding March scrap settlement prices were for prices to be down $20-$30 per gross ton (or more). However, as Steel Market Update got deeper into understanding the market we found, due to weather and other issues, flows into the scrap yards have been slow which has caused the scrap suppliers […] The post Weak Scrap Flows May Temper Any Drop in Scrap Pricing appeared first on Steel Market Update.
A week ago the predictions regarding March scrap settlement prices were for prices to be down $20-$30 per gross ton (or more). However, as Steel Market Update got deeper into understanding the market we found, due to weather and other issues, flows into the scrap yards have been slow which has caused the scrap suppliers […] The post Weak Scrap Flows May Temper Any Drop in Scrap Pricing appeared first on Steel Market Update.
Steel analyst Charles Bradford of Bradford Research spoke at the Port of Tampa Steel Conference this past week. He presented a relatively upbeat analysis of the domestic steel industry. He began by referring to a recent McKinsey and Company report which basically said, “The steel industry has had it, it’s over. The industry doesn’t make […] The post Bradford Warns of “Black Swan” Lurking appeared first on Steel Market Update.