Section: News

The following article on the hot rolled coil (HRC) steel and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week: Steel HR spot prices continued to fall this week breaking down through the $800/ST [$40/cwt] level. The HR futures followed suit. Futures […] The post Futures: HR and Scrap Forward Curve Steepness Moving in Opposite Directions appeared first on Steel Market Update.

After rising in October and November, ferrous scrap prices are expected to move sideways in December with the possibility of a small $10 per ton increase for some grades. But weakness overseas complicates predictions longer term, say Steel Market Update sources. “December is generally a month when scrap prices rise,” said CRU North America Steel […] The post Ferrous Scrap Prices: Little to No Increase Expected in December appeared first on Steel Market Update.

Nearly nine out of 10 of the steel buyers responding to Steel Market Update’s market trends questionnaire earlier this week believe the domestic mills will be unsuccessful in their attempts to collect the $40 price increased they announced this time last month. Since those announcements, flat rolled steel prices are little changed, if not down […] The post SMU Market Trends: Mills Unsuccessful in Collecting Price Increase appeared first on Steel Market Update.

Ferrous scrap prices have risen for the second month in a row as November buys settled early at up $10 for prime grades and up $20 for obsoletes, report Steel Market Update sources. “Dealers and mills both wanted to wrap things up given that November is a shorter shipping month and they need to get […] The post Ferrous Scrap Prices Up Again in November appeared first on Steel Market Update.

The following article on the hot rolled coil (HRC) steel and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week: Steel HR futures have been subdued the last week or so. With spot HR and the Oct’19 settle both pegged at $831/ST, the […] The post HRC Futures: Near-Term HR Futures in Holding Pattern appeared first on Steel Market Update.

Steel Market Update sources are expecting another $10-$20 per ton increase in ferrous scrap prices in November, much like the bump seen in October. “If there is a $10-$20 change, shredded scrap will be on the higher end, given typical seasonal slowdowns and lower scale prices,” said CRU North America Steel Analyst Ryan McKinley. Some […] The post Ferrous Scrap Prices Expected to Rise Again in November appeared first on Steel Market Update.

In the last 12 months, the price of coking coal and scrap have continuously trended up, zinc has continuously trended down, and iron ore and pig iron have been erratic. Table 1 summarizes the price changes through November of the five materials considered in this Steel Market Update report. It includes the month/month, 3 months/3 […] The post Raw Material Prices: Iron Ore, Coking Coal, Pig Iron, Scrap and Zinc appeared first on Steel Market Update.

Table 1 summarizes the October prices of the five materials considered in this report and the month/month, three months/three months and year/year change. Price changes have been mixed. In the last three months, coking coal and iron ore have trended up as pig iron, scrap and zinc have trended down. This was the same pattern […] The post Raw Material Prices: Iron Ore, Coking Coal, Pig Iron, Scrap and Zinc appeared first on Steel Market Update.

Cleveland Cliffs CEO Lourenco Goncalves is looking forward to the completion of the company’s HBI pellet plant in Toledo, Ohio. The project is on time and under budget and construction has begun on the 400-foot tower that will be completed by the end of 2019. Startup of HBI production is anticipated in mid-2020. The company […] The post Cliffs Confident its “Ahead of the Curve” appeared first on Steel Market Update.

The following article on the hot rolled coil (HRC) steel and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week: Steel The mid-week spot price increase announcement by mills to $860/ST has curbed activity in the futures as participants try to digest the […] The post Futures: Mills’ Mid-Week HR Spot Price Increases Lead to HR Futures Trading Pause appeared first on Steel Market Update.