Ferrous scrap price negotiations for January were slow to develop but by late Thursday and into Friday prices firmed and deals between the domestic steel mills and the scrap dealers were getting done. The two largest scrap buyers, David J Joseph (Nucor) and Omnisource (Steel Dynamics), entered the market late during the week at $30 […] The post Will Ferrous Scrap Prices Peak in January? appeared first on Steel Market Update.
Initial reports coming out of the financial community are suggesting ferrous scrap prices could be down $5 to $15 per ton once the August negotiations between the steel mills and their suppliers get under way. The expectation that the prime grades will be hit after spending a couple of months moving sideways. However, not all […] The post August Expected to be the Low Price Point for Ferrous Scrap Prices appeared first on Steel Market Update.
Supply of ferrous scrap continues to be an issue for the domestic steel mills. On Friday of this past week scrap prices settled in the Detroit market up $50 per gross ton. However, many of our scrap sources are advising that the rest of the country is in limbo as many dealers think the market […] The post Scrap Dealers Holding Back as Market May be Stronger than +$50 appeared first on Steel Market Update.
World Steel Exchange Marketing (WSEM) announced that the US Shredded Steel Scrap TSI Index will begin futures trading on the Nasdaq Commodities Exchange (Stockholm) as of March 29, 2016. The 20-gross-ton USA Midwest shredded steel contract will be listed, and quoted, for the current month and each of the next 11 months. The contract will […] The post US Shredded Steel Scrap Futures Trading Coming to Nasdaq appeared first on Steel Market Update.
SMU is seeing ferrous scrap prices in the Chicago area trading down $10-$15 per gross ton with HMS at $200-$210 per gross ton, shredded at $230-$235 per gross ton and busheling at $240-$245 per gross ton. We received a note from one of our main ferrous scrap sources late last week that we thought would […] The post More Weakness in Ferrous Scrap Prices Expected appeared first on Steel Market Update.
Our scrap sources are advising Steel Market Update that the scrap markets in the Midwest have been slow to settle with only a few deals done as of Tuesday morning. The expectation by those involved in the Midwest ferrous scrap markets is that the transactions will be completed over the next day or two. Most […] The post Midwest Ferrous Scrap Pricing Slow to Develop, Expect Sideways Price Movements appeared first on Steel Market Update.
There is no joy in Mudville in the middle of March, the scrap market is dead and no mills are looking to add to their inventories. For that matter the dealers have very little to offer as the weather has yet to clear up north and the big move lower in scrap prices in February […] The post Ferrous Scrap Prices Poised to Move Sideways as we Get into April Negotiations? appeared first on Steel Market Update.
As Steel Market Update has discussed in previous articles on the subject of scrap pricing, the original projections by buyers of scrap were for prices to drop $20 per gross ton on all products for the month of March. The projected March reduction would have been on the heels of an $80 to $110 per […] The post Ferrous Scrap Update: April Bounce Ahead (Dead Cat or Otherwise)? appeared first on Steel Market Update.
Written by: Damon Sun, Daido International The Far East and Asian markets are in a definite flux versus the USA market. I will preface my explanation with, the ferrous scrap markets in Asia increased in February first while the USA scrap markets were down in February. With that in mind, the scrap markets in North […] The post Asian Scrap Markets in a State of Flux appeared first on Steel Market Update.