The pig iron market has risen in recent months from the high $390s per metric ton (mt) last fall to $490/mt for Brazilian material and a bit more for Ukrainian product - for an overall average of $495/mt CFR. The post Miller on raw materials: A pig iron market update appeared first on Steel Market Update.
By Michael Marley The mini sheet mills face a maxi problem, namely no additional supplies of prompt industrial scrap to feed their growing appetites for that raw material. As they move ahead with planned expansions of existing facilities and the construction of greenfield plants, electric arc furnace (EAF) steelmakers may be forced to rely on additional […] The post Prompt Industrial Scrap: A Big Shortage Decades in the Making appeared first on Steel Market Update.
As expected, ferrous scrap prices for March settled up $50 per ton for obsolete grades and up $70 per ton for prime grades in most parts of the U.S., reported Steel Market Update sources. April scrap is likely to remain relatively unchanged. “Looking forward, I don’t see downside for prime grades in April. Depending on […] The post March Scrap Settles Up $50-70/GT appeared first on Steel Market Update.
John Packard founded Steel Market Update in 2008 after spending 31 years actively selling steel in the service center, steel mill and trading company segments of the industry. He is currently President & CEO of Steel Market Update which was sold to CRU in 2018. Steel Market Update is a leader in collection of market […] The post SMU CEO Discusses Clean Steel & More appeared first on Steel Market Update.
The following article on the hot rolled coil (HRC), scrap and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week: Hot Rolled Price and forecast volatility continue to plague the ferrous markets, but how close are we to the top? Hot rolled […] The post Hot Rolled Futures: How Close Are We to the Top? appeared first on Steel Market Update.
The wait is over—Steel Dynamics has announced it will build its new $1.9 billion flat rolled steel mill in Sinton, Texas, 30 miles northwest of Corpus Christi. The new steel mill will serve the four-state Texas area, the western U.S. and Mexico market regions, representing approximately 27 million tons of relevant flat rolled steel consumption—7 […] The post SDI Chooses Sinton,Texas, for New Flat Rolled Mill appeared first on Steel Market Update.
Steel Market Update’s sources reported that the June ferrous scrap trade produced slightly higher prices on prime grades of about $10 per ton and little change on obsolete grades. “There was a significant supply of shredded and cut grades offered into the market, which is not unusual for a June trade. Under market conditions like […] The post U.S Ferrous Scrap Prices Stay Steady in June appeared first on Steel Market Update.
Stronger domestic demand for steel products, combined with feedstock and transportation problems, sent ferrous scrap prices on divergent paths in various parts of the country this month, reports scrap guru Mike Marley of World Steel Exchange Marketing. Tight supplies of key obsolete grades produced pricing moves ranging from unchanged for industrial steel grades in several […] The post Marley: Several Factors Reshaping the Scrap Market appeared first on Steel Market Update.
Three weeks ago, the expectation for February ferrous scrap was for prices to be firm to slightly higher than January. This was due to rising prices on exports of ferrous scrap to Turkey, as well as cold weather in the north and large buys by the domestic steel mills as they restock after running inventories […] The post ‘Sloppy Sideways’ Expected for February Scrap Pricing appeared first on Steel Market Update.
The January buy period saw ferrous scrap prices move significantly higher, lending support to recent mill price increases. While February is historically a down month for scrap, sources predict that February prices will be as high or even higher than January’s. January ferrous markets ended higher by $30 per gross ton for obsolete grades and […] The post Ferrous Scrap Prices Trending Higher in January, February appeared first on Steel Market Update.