Scrap Sources: Construction

By CRU Senior Analyst Ryan McKinley, from CRU’s Metallics Monitor The CRU metallics price indicator (CRUmpi) increased slightly in June, rising by 2.9 percent m/m to 208.3. The reduction in lockdowns and other Covid-19-related restrictions across the globe allowed scrap to become more readily available as demand increased in major importing markets. In the near term, we […] The post CRU: Easing of Lockdowns Stabilizes Global Scrap Prices appeared first on Steel Market Update.

Wholesalers of HVAC products have weathered the pandemic surprisingly well so far and are more concerned about construction demand months from now than they are about their near-term prospects. Consider what has happened since April as a result of the market’s response to the virus: Steel mills are operating at just above 50 percent of […] The post HARDI: Long-Term Construction Demand a Concern appeared first on Steel Market Update.

By CRU Senior Analyst Ryan McKinley, from CRU’s Steel Metallics Monitor The CRU metallics price indicator (CRUmpi) moved higher by 11.5 percent m/m to 202.4 in May. Supply constraints caused by the Covid-19 pandemic combined with either sustained or recovering scrap demand to lift prices across most of the globe, although pig iron demand was […] The post CRU: Scrap Prices Rise as Supply Evaporates appeared first on Steel Market Update.

John Packard is taking some time off. May could be a pivotal month for the U.S. economy and the steel industry. No reasonable person believes we will have the virus crisis behind us, but we should at least have more clarity on what lies ahead. States, to one degree or another, are loosening their restrictions […] The post Final Thoughts appeared first on Steel Market Update.

By John Packard and Tim Triplett Steel Market Update has been asked: How does the COVID-19 pandemic compare to the Great Recession, in terms of its impact on the steel market? The full effect of the coronavirus crisis on the U.S. economy and steel demand is still to play out, of course, but some comparisons […] The post How Does the COVID Pandemic Compare to the Great Recession for Steel? appeared first on Steel Market Update.

“The SDI team shines in moments of challenge,” said Steel Dynamics President and CEO Mark Millett. First-quarter results support that confidence as the company reported strong earnings for January-March despite the coronavirus pandemic. First-quarter net sales totaled $2.6 billion and net income $187 million, an improvement from Q4 2019 for both metrics. Selling price per ton […] The post SDI Earnings Reflect Strong Construction Demand appeared first on Steel Market Update.

By CRU Senior Analyst Ryan McKinley, from CRU’s Metallics Monitor The CRU metallics price indicator (CRUmpi) will be updated following the conclusion of trade in the U.S. However, we expect the indicator to move substantially lower following price decreases across every market we track. Metallics prices in nearly every market came under substantial pressure in […] The post CRU: Global Metallics Prices Fall Amid Decline in Steel Demand appeared first on Steel Market Update.

Schnitzer Steel Industries, a metals recycler and long products producer, posted revenue of $439 million for the second quarter of FY 2020. Net income was $4.5 million for the quarter, improving from a $7 million loss in Q1 but down significantly from income of $13 million in Q2 2019. Autos and Metals Recycling achieved operating […] The post Schnitzer Steel Notes Lower Scrap Pricing and Demand appeared first on Steel Market Update.

Steel prices saw further declines this week, but not a dramatic collapse. The benchmark price of hot rolled now averages around $560 per ton, down $5 from last week and down $50 from the mid-January high of $610. Most of the steel buyers responding to Steel Market Update’s check of the market this week expect […] The post SMU Market Trends: Buyers Ponder Their Prospects in the Virus Crisis appeared first on Steel Market Update.

Steel prices are as unpredictable as the spread of a rogue virus, but one symptom of COVID-19 is likely to be lower steel prices. As of this writing on March 13, the price of flat rolled steel products had yet to see much effect from the global panic over the coronavirus. Steel Market Update’s latest […] The post What Will the Coronavirus Do to Steel Prices? appeared first on Steel Market Update.