On January 14, Steel Market Update (SMU) adjusted our Price Momentum Indicator from Higher to Neutral. This means we see steel market pricing at this moment as either in transition or moving sideways over the next 30 days. With ferrous scrap prices now weakening, lead times shortening and all of the available capacity back in […] The post SMU Price Momentum Adjusted & SMU Price Indices 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.
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.
Steel Dynamics reported solid earnings on Monday with Q4 2013 net income of $55 million on net sales of $1.9 billion, somewhat short of Q4 2012 net income of $61 million on sales of $1.7 billion. Full year income was $189 million, up from $164 million in 2012. Net sales for the year totaled $7.4 […] The post SDI Reports Solid Earnings appeared first on Steel Market Update.
Steel Market Update (SMU) has adjusted our Price Momentum Indicator from Higher to Neutral. This means we see steel market pricing at this moment as either in transition or moving sideways over the next 30 days. With ferrous scrap prices now weakening, lead times shortening and all of the available capacity back in the market […] The post SMU Price Momentum Indicator Adjusted to Neutral from Higher appeared first on Steel Market Update.
Sims Metal Management, a metals and electronics recycler headquartered in Australia, announced North American results for FY 2013 ending June 30, 2013. Underlying EBITDA for North American operations rose 30 percent year-over-year to $102.3 million. (Underlying EBITDA is a measure of the actual profits realized by a company used for business process planning, rather than […] The post Sims Reports Lower Results for FY 2013 appeared first on Steel Market Update.
With scrap prices taking a bit of a tumble during the month of February – which did not lend a helping hand to the domestic mills who wished to raise prices – all eyes are now already focused on March. What will March bring for the industry? Will the month come in like a lion […] The post Early Debate Regarding March Scrap Prices – Up, Down or Sideways? appeared first on Steel Market Update.