As much as the mills are gloating about President Trump’s decision to lay a 25 percent tariff on foreign steel, remember one thing – not one of them asked for it. When it was handed to them, they took it. They did not fight to protect those products that they don’t like to make (or […] The post Final Thoughts appeared first on Steel Market Update.
Ferrous scrap prices for March delivery are expected to increase by around $10 per ton, report Steel Market Update’s scrap market sources. “Strong demand for raw materials both domestically and internationally are allowing little chance ferrous scrap prices will drop in March,” said one East Coast dealer. “All the mills I sell to will have […] The post Scrap Prices to See Modest Bump in March 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 HR futures prices continue to grind higher in the near dates but have been lagging in the latter half of […] The post Hot Rolled Futures Have Bullish Tone 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 Increased HR futures buying this week reflects the slightly more bullish narrative in the domestic HR price expectations. Concern that lead times […] The post Hot Rolled Steel and Scrap Futures appeared first on Steel Market Update.
Led by the Detroit scrap buyers, ferrous scrap traded sideways in most markets that had been concluded by the end of the day on Friday. Shredded scrap prices in the Detroit area were unchanged at $330-$345 per gross ton, while prime grades continue to trade at $370-$380 per gross ton. There were few if any […] The post February Ferrous Scrap Trades Sideways appeared first on Steel Market Update.
In its year-end 2017 financial report, Nucor delivered its highest annual earnings since 2008. Consolidated net sales increased 25 percent to $20.25 billion, compared with $16.21 billion for fiscal 2016. Shipments to outside customers during 2017 totaled 26,492,000 tons, an increase of 9 percent from fiscal 2016. Average sales price per ton increased 15 percent. […] The post Nucor Delivers Best Yearly Results Since 2008 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 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 A couple of interesting observations this week in the ferrous futures. Basically, steel is up, and scrap is softer. HR nearby […] The post Hot Rolled Futures: Sellers Cautious appeared first on Steel Market Update.
Last year was a record breaker for Steel Dynamics in multiple areas. The company reported records for steel shipments, fabrication shipments, net sales, operating income and EBITDA. Annual net income totaled $813 million compared to $382 million in 2016. Net sales for the full year totaled $9.5 billion compared to $7.8 million the previous year. […] The post Record Year for Steel Dynamics 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.