Scrap Consumers: Steel Mills

The David J. Joseph Co. (DJJ) has acquired two recycling operations that are expected to increase its capacity by 10%, parent company Nucor Corp. said. DJJ’s deals – terms of which were not disclosed – will support the Charlotte, N.C.-based steelmaker’s growth strategy and increase its ability to secure scrap for its electric arc furnace (EAF) […] The post DJJ Acquisitions to Boost Scrap Capacity by 10% as Nucor Expands Mills appeared first on Steel Market Update.

By CRU Senior Editor Ryan McKinley, from CRU’s Steel Sheet Products Monitor Steel sheet prices were either little changed or fell w/w across most of the globe, with the U.S. market now joining in the global cooldown. Prices in the U.S. fell w/w for the first time in over year, albeit the decline was only […] The post CRU: U.S. Sheet Prices Join Global Slowdown appeared first on Steel Market Update.

Steel Dynamics Inc. (SDI) forecasts a new quarterly record in the third quarter of 2021 when it comes to steel operations’ profitability, according to guidance issued Wednesday. The gains versus second-quarter results come thanks to strong steel demand and significant metal spread expansion, the electric-arc furnace (EAF) steelmaker said. “Third-quarter 2021 steel shipments are expected to be […] The post SDI Earnings Guidance: Record Quarterly Performance Expected appeared first on Steel Market Update.

Schnitzer Steel Industries Inc. has resumed production at its Cascade Steel Rolling Mills in McMinnville, Ore., following a fire in late May that damaged the facility’s melt shop. The Portland, Ore.-based recycler, which also owns the Oregon mill, said the facility was accepting orders after restarting operations several weeks earlier than expected. “I am proud […] The post Schnitzer Restarts Cascade, Buys Columbus Recycling appeared first on Steel Market Update.

By CRU Senior Editor Ryan McKinley, from CRU’s Steelmaking Raw Materials Monitor The CRU metallics price indicator (CRUmpi) fell by 4.8% in August to 393.8, making it the first reading below the 400 level since May. Price falls for scrap and HBI were similar in scale, but pig iron prices have moved notably lower. Demand […] The post CRU: Falling Demand Weighs on Global Metallics Prices appeared first on Steel Market Update.

Looking for Signs One year ago, benchmark hot rolled prices bottomed at $440 per ton ($22.00/cwt). Since then, steel prices have been on a tear with spot hot rolled more than four times higher at nearly $1,900 per ton ($95.00/cwt). The net result from this 52-week march higher is the way steel buyers view the […] The post SMU CEO Discusses Signs That Will Point to Lower Steel Prices appeared first on Steel Market Update.

Looking for Signs One year ago, benchmark hot rolled prices bottomed at $440 per ton ($22.00/cwt). Since then, steel prices have been on a tear with spot hot rolled more than four times higher at nearly $1,900 per ton ($95.00/cwt). The net result from this 52-week march higher is the way steel buyers view the […] The post Final Thoughts appeared first on Steel Market Update.

We talk a lot about the price of steel going up. We don’t talk as much about spreads between hot-rolled coil and prime scrap – which are going up just as fast if not faster. And if you’ve listened to earnings calls over the last two weeks, you know that steel mills and industry analysts […] The post Cowden: Analysis Spread Between Scrap and Steel Prices appeared first on Steel Market Update.

We talk a lot about the price of steel going up. We don’t talk as much about spreads between hot-rolled coil and prime scrap – which are going up just as fast if not faster. And if you’ve listened to earnings calls over the last two weeks, you know that steel mills and industry analysts […] The post Final Thoughts appeared first on Steel Market Update.

Steel Dynamics Inc. (SDI) kicked off steel earnings season by posting record second-quarter sales and record profits on ballooning metal spreads. And the Fort Wayne, Ind.-based electric arc furnace (EAF) steelmaker anticipates another record performance in the third quarter as well as strong demand into 2022. “We remain confident that macroeconomic and market conditions are […] The post SDI Posts Record Q2 Profits, Sees Strong Demand into ’22 appeared first on Steel Market Update.