According to scrap experts, most of the domestic mills canceled their January orders at the close of business this past Friday when shipment of the past due scrap had not already been made. Cancellations are standard operating procedure by the domestic mills when they believe scrap prices will drop once the new month’s negotiations are […] The post Scrap Market in “New Dynamic” as Exports Wane appeared first on Steel Market Update.
According to scrap experts, most of the domestic mills canceled their January orders at the close of business this past Friday when shipment of the past due scrap had not already been made. Cancellations are standard operating procedure by the domestic mills when they believe scrap prices will drop once the new month’s negotiations are […] The post Scrap Market in “New Dynamic” as Exports Wane appeared first on Steel Market Update.
As we approach the end of January the expectation is for the domestic steel mills to cancel any remaining ferrous scrap orders that the yards have been unable to ship due to the weather, shortage of trucks or rail cars or just due to the dealer(s) being unable to complete the order on time. The […] The post Ferrous Scrap Prices Forecast to Drop $10-$30 appeared first on Steel Market Update.
Commercial Metals Company (CMC) posted net earnings of $45.9 million on net sales of $1.7 billion for its first quarter of fiscal year 2014 ending on November 30, 2013. This compares with net earnings of $49.7 million on a similar net sale amount of $1.7 billion for the same period in FY 2013. Results included […] The post CMC Earnings Improve over Previous Quarter appeared first on Steel Market Update.
The first couple of days of January did capture a few sales of shredded scrap into the Midwest/Ohio Valley markets. Early reports are a number of orders were taken to the domestic steel mills at higher numbers ranging from a low of up $15 to a high of up $25. This is at the low […] The post Early Shredded Scrap Sales for January Up $15 to $25 appeared first on Steel Market Update.
The other day Steel Market Update wrote an article about steel buyers anticipating a flat rolled steel price increase announcement out of the domestic mills prior to the end of the year. Not everyone is a believer that will occur and we got several emails and phone calls pointing out short lead times at a […] The post SMU Notes from Our HARDI Presentation appeared first on Steel Market Update.
Steel buyers are bracing for a new round of flat rolled price increases according to steel buyers and executives as well as the results of our most recent Steel Market Update (SMU) market analysis of the flat rolled steel market which we conducted this past week. “It’s time to raise the price of flat rolled […] The post Buyers Preparing for Next Round of Flat Rolled Price Increases appeared first on Steel Market Update.
We continue to get positive feedback regarding the new SMU website. As with any new site as complicated as ours is there will be a few bugs and a learning curve to negotiate through in the early stages. We are working through those and believe we are offering a unique experience for those involved in […] The post Final Thoughts appeared first on Steel Market Update.
It is still early in the process of negotiations between the domestic steel mills and their scrap suppliers. The steel mills are trying to pay the same prices for ferrous scrap as they did during the month of November and the scrap dealers are having none of it. The scrap suppliers are asking for prices […] The post Final Thoughts appeared first on Steel Market Update.
According to Steel Market Update (SMU) sources scrap prices are headed higher for the month of November delivery into the domestic steel mills. Early reports have Detroit settling up $30 per gross ton on all grades. We have also heard shred prices are up $30 per gross ton in the Cleveland and Pittsburgh markets and […] The post Early Reports Have Shredded Scrap up $30 in Detroit, Pittsburgh, Cleveland appeared first on Steel Market Update.