Ferrous scrap prices drifting lower by as much as $30 per gross ton (Detroit) on primes and $20 (Detroit) on shred will put some pressure on flat rolled steel spot prices in the coming weeks. Not all of the regions have settled prices and the dealers are resisting going down as much as what was […] The post Final Thoughts appeared first on Steel Market Update.
The prices for flat rolled steel have dropped over the past few weeks which is creating a situation where the domestic steel mills want to recoup a portion (or all) of the reductions by negotiating lower ferrous scrap pricing. The mills are asking for $20 per gross ton across the board (HMS, shred, prime grades) […] The post September Scrap Has Mills Pressuring Prices with Mixed Results Expected appeared first on Steel Market Update.
The following article on the hot rolled coil (HRC) and financial futures markets was written by Andre and Jack Marshall of Crunch Risk LLC. Here is how they saw trading over the past week: Steel We traded 961 lots of hot rolled coil (HRC) futures in the week or 19,220 short tons (ST). With the […] The post Hot Rolled Futures: Fear Takes Hold appeared first on Steel Market Update.
The following article on the hot rolled coil (HRC) 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 prices are down over $10/ST Sep’16/Dec’17 over the last week, roughly in line with the different indexes being reported. SMU […] The post Hot Rolled Futures Trading More Briskly as Sellers Enter the Market appeared first on Steel Market Update.
SMU Sources are advising us that obsolete grades of ferrous scrap are trading sideways (prices remaining the same as last month) while prime grades move lower by $10 to $15 per gross ton in the Chicago, Ohio Valley, Detroit and Indiana markets. Prior to negotiations beginning, the expectation was for obsolete grades to remain intact […] The post Ferrous Scrap Trading Sideways on Obsolete to Down $10-$15 on Primes appeared first on Steel Market Update.
Scrap trading has been slow to develop in all but the Detroit area mills. The domestic steel mills are trying to reduce the spread between shredded scrap and prime grades of scrap (busheling and bundles) which in some cases has expanded to $70 per gross ton. Scrap guru Michael Marley reported this afternoon that the […] The post Final Thoughts appeared first on Steel Market Update.
The following article on the hot rolled coil (HRC) 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 trickle of bullish news for steel helping to push values higher on very light HR futures volume and reduced selling interests. […] The post Hot Rolled Futures: Bullish News Pushing Values Higher 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.
Steel Dynamics announced second quarter 2016 net income of $142 million on net sales of $2.0 billion. In comparison, net sales in Q1 totaled $1.7 billion with net income of $63 million and year ago sales were $2.0 billion with adjusted net income of $53 million. A decline in imports of flat rolled steel and […] The post Steel Dynamics Sees Stability in the Market appeared first on Steel Market Update.
As reported last week, obsolete grades of ferrous scrap came under price pressure as negotiations concluded for July deliveries. Prime grades, however, saw prices move sideways as the spread between shredded scrap and primes increased. The product that saw the most movement was shredded due to excessive inventories and little movement on the export front […] The post Ferrous Scrap Price Roundup appeared first on Steel Market Update.