October ferrous scrap exports totaled 1,451,844 net tons (1,317,092 metric tons) with Turkey, Korea, Taiwan, China, and Mexico being the top five countries where scrap was sent. These countries accounted for over 74.1 percent of all scrap exports. Of the higher ranking countries in the table below, there was month-over-month increase in ferrous scrap exports […] The post October Ferrous Scrap Exports Down appeared first on Steel Market Update.
The U.S. ferrous scrap market has seen prices moving higher during the first 10 days of December. We have seen shredded scrap prices moving $20 to $45 per gross ton depending on the market. Busheling has been more plentiful and has managed to remain stable to up $10 in most markets. We asked one of […] The post Higher Scrap Pricing Forecast for January appeared first on Steel Market Update.
The other day Steel Market Update wrote an article about steel buyers anticipating a flat rolled steel price increase announcement out of the domestic mills prior to the end of the year. Not everyone is a believer that will occur and we got several emails and phone calls pointing out short lead times at a […] The post SMU Notes from Our HARDI Presentation appeared first on Steel Market Update.
Steel buyers are bracing for a new round of flat rolled price increases according to steel buyers and executives as well as the results of our most recent Steel Market Update (SMU) market analysis of the flat rolled steel market which we conducted this past week. “It’s time to raise the price of flat rolled […] The post Buyers Preparing for Next Round of Flat Rolled Price Increases appeared first on Steel Market Update.
We continue to get positive feedback regarding the new SMU website. As with any new site as complicated as ours is there will be a few bugs and a learning curve to negotiate through in the early stages. We are working through those and believe we are offering a unique experience for those involved in […] The post Final Thoughts appeared first on Steel Market Update.
The original forecast for December scrap pricing was for ferrous scrap prices to move sideways (no change) to slightly higher, maybe $10 per gross ton. That was three weeks ago. As the month of December moved closer, the expectation for a sideways move was replaced with up $10 to $20 per gross ton. The month […] The post Scrap Prices Meeting & Somtimes Exceeding Expectations appeared first on Steel Market Update.
It is still early in the process of negotiations between the domestic steel mills and their scrap suppliers. The steel mills are trying to pay the same prices for ferrous scrap as they did during the month of November and the scrap dealers are having none of it. The scrap suppliers are asking for prices […] The post Final Thoughts appeared first on Steel Market Update.
The recent resurgence of the steel industry in Japan has resulted in a scrap shortage in the Far East, despite lackluster finished steel sales. Japan’s resurgence is a partial result of Abenomics due to the weakening yen (currently at 101). Automobile sales, appliances and public infrastructure spending/reconstruction has resulted in very healthy steel demand in […] The post Tightening Scrap Market in Asia appeared first on Steel Market Update.
SMU Sources Forecast Scrap to Rise by $40 by the Beginning of the New Year Steel Market Update (SMU) scrap sources are forecasting ferrous scrap prices to rise by approximately $40 per ton by early January. December scrap prices are projected to be flat (sideways) to up slightly from November scrap pricing levels. However, scrap […] The post December Ferrous Scrap Forecast to Move Sideways to Up $10 appeared first on Steel Market Update.
September ferrous scrap exports totaled 1,548,020 metric tons (1,706,398 net tons) with Turkey, Korea, Taiwan, China, Mexico, and Canada being the top five recipients of U.S. collected scrap. Of the higher ranking countries in the table below, there was month-over-month increase in exports going to Korea and Mexico over the August figures, but a decrease […] The post September Ferrous Scrap Exports Down 8.4% appeared first on Steel Market Update.