Steel mills are less willing to negotiate prices as we enter into the new year. With the exception of Galvalume, all of the products SMU surveyed remained more fixed in price compared with the last market check two weeks ago, and a far cry from early November of last year. In fact, the plate market […] The post Steel Mills Continue to Balk at Negotiating Lower Tags appeared first on Steel Market Update.
Luxembourg-based ArcelorMittal has agreed to purchase Zlomex, a scrap metal recycling company with two yards in Poland. Last year they shipped almost 400,000 t of ferrous scrap metal to a range of steel mills and foundries, including ArcelorMittal's steel plants in Dąbrowa Gornicza and Warsaw. Zlomex, Zaklad Przerobu Zlomu in full, added a new shredder and […]
After surging in late November to a five-month high, Steel Market Update’s (SMU) Steel Buyers Sentiment Index slipped three points through Dec. 8th. Our Future Buyers Sentiment Index also fell a few points from it’s previous high, down three points in comparison to two weeks prior. Buyers Sentiment remains strong overall, and Current Sentiment is […] The post SMU Sentiment Index Dips From 5-Month High, But Remains Strong appeared first on Steel Market Update.
Longs producer and scrap recycler Commercial Metals Co. (CMC) has acquired a metals recycling facility in the Galveston, Texas, area. Terms of the deal were not disclosed. CMC acquired the facility and assets from Kodiak Resources Inc. and Kodiak Properties LLC. The majority of the 55,000 tons per year of ferrous and non-ferrous material processed […] The post CMC Acquires Texas Scrap Facility From Kodiak Resources appeared first on Steel Market Update.
By CRU Research Analyst Rosy Finlayson, from CRU’s Steelmaking Raw Materials Monitor European scrap prices remained relatively unchanged month-on-month (MoM) in September. Buying activity has been slow after the summer holidays despite this being the normal restocking period. Finished steel mills are reportedly sufficiently stocked at present. Scrap prices in Europe now range between €300 […] The post CRU: European Scrap Prices Stagnate, Buying Activity Remains Low appeared first on Steel Market Update.
Turkish scrap import prices decreased marginally w/w Last week, Turkish scrap prices fell by a marginal $2 /t w/w (up $28 /t m/m) to $393 /t CFR for HMS 1/2 80:20. Market activity calmed again after a series of purchases in mid-August. Turkish mills have lowered their finished longs offers by 10–20 /t w/w due […]
Keynote speaker Paul Lowrey presented at the SMU Steel Summit Conference today, explaining his market thoughts through data on US steel market capacity, steel mill consolidation, and the scrap market. As president of Steel Research Associates (SRA) with a career spanning 30 years, Lowrey opened his segment explaining, “I’ve been labeled by some as a […] The post Paul Lowrey: It’s a Great Time to Be in the Steel Industry appeared first on Steel Market Update.
Editor’s note: Paul Lowrey did a presentation at the Tampa Steel Conference in February 2022 covering a range of industry issues. It was well received by the audience. and SMU asked him to do it again at Steel Summit 2022 with updates. This is an excerpt of his anticipated presentation. I’m approaching 30 years in […] The post Lowrey: It’s a Great Time To Be in the Steel Industry appeared first on Steel Market Update.
A previously shuttered iron ore concentrate facility on the Mesabi Iron Range might be coming back to life under the newly-formed MagIron LLC. The Plant 4 concentrator near Grand Rapids, Minn., formerly owned by Magnetation and once rescued from bankruptcy by ERP Iron Ore – which subsequently filed for bankruptcy itself – has been acquired by former […] The post MagIron Gets a New Lease on Life appeared first on Steel Market Update.
ArcelorMittal has agreed to acquire a controlling stake in Voestalpine’s hot-briquetted iron (HBI) plant in southern Texas, in a deal that values the operations at $1 billion. The Luxembourg-based steelmaker will take an 80% stake in the plant located in Portland, Texas – just outside of Corpus Christi. Opened in October 2016, it’s one of […] The post ArcelorMittal Takes Majority Stake in Voestalpine Texas HBI Plant appeared first on Steel Market Update.