Steel Market Update (SMU) has been struggling to get a clear view of the current market situation as we attempt to identify which direction we see flat rolled steel prices going from here. We have been receiving mixed messages over the past two weeks and we have been advising our readers to remain vigilant and […] The post HR Price Drops & Price Momentum Indicator Now at Neutral 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 Finally getting some traction in HR futures here this past week as prices declined along the curve and especially in the […] The post Hot Rolled Futures: Gaining Some Traction appeared first on Steel Market Update.
SMU scrap sources are all telling us that the recent transactions with Turkey have “surprised” dealers, the net result may well be a much weaker domestic scrap market than anticipated as we move into February negotiations next week. A weaker scrap market, especially if it were to drop $35-$40 per gross ton would dampen price […] The post February Scrap Pricing Now Poised to Drop $20-$40 appeared first on Steel Market Update.
Are cracks starting to develop in the floor of steel prices? Are any cracks a harbinger to a reversal of flat rolled steel prices? It is too early to tell. However, buyers and sellers of steel need to be aware of that the markets may be in the early stage of change. Since the beginning […] The post Cracks Developing in the Steel Pricing Floor? 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 It has been an active week even with the CME closed for Martin Luther King Day. This past week we have […] The post Hot Rolled Futures: Active Week Despite MLK Day appeared first on Steel Market Update.
AK Steel and NLMK USA raised flat rolled steel prices by $40 per ton ($2.00/cwt) on all new spot sales of flat rolled steels (hot rolled, cold rolled, galvanized). At the same time, SMU understands that Steel Dynamics has opened their order books for February and are quoting prices that are approximately $40 per ton […] The post Steel Buyers Weigh in on Domestic Spot Price Increase Announcements appeared first on Steel Market Update.
On Friday, January 6, 2017, AK Steel became the first U.S. steel mill to increases flat rolled steel spot prices. The mill announced an increase of $40 per ton ($2.00/cwt) effective immediately on all flat rolled, which for them includes hot rolled, cold rolled and galvanized steel products. This is now the fifth (5th) price […] The post AK Steel Raises Spot Prices by $40/Ton appeared first on Steel Market Update.
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.
Welcome back to any of you who managed to extend your New Year Holiday until the 9th of January. The year started slow but increased speed once we got toward the end of this past week. Ferrous scrap prices are up $30-$45 per gross ton and AK Steel has started the ball rolling with a […] The post Final Thoughts appeared first on Steel Market Update.
January scrap negotiations have begun between the domestic (USA & Canada) steel mills and their scrap suppliers. As one large scrap company put it, “Things are slow to develop today, but I’m anticipating some movement by day’s end. This market has been sort of like a junior high dance at this point, with the reluctant […] The post Scrap Negotiations Ongoing, Early News Pointing Toward +$30-$40 appeared first on Steel Market Update.