Hoffman on scrap: March ferrous outlook
"Longs sales are at a standstill," said one producer.
Section: News
Alcoa makes $2.2 billion bid for Australian partner Alumina
Pittsburgh-based aluminum company Alcoa wants to acquire its Australian partner, Alumina Limited, in an all-stock deal valued at $2.2 billion.
Steel sector urges end to South Africa’s scrap metal export ban
Trade body Seifsa has revived its call for the government to end prohibition of scrap metal exports, saying it is threatening the whole industry with collapse.
Kazakhstan and Kyrgyzstan extend ferrous scrap export bans
The government of Kazakhstan intends to prolong prohibition of foreign shipments of steel scrap and waste in order to support the domestic economy. “The decision was made collectively against the backdrop of the situation that has arisen due to the lack of raw materials for local processing enterprises and the restrictive measures on the export […]
Sims sees US as bright spot in scrap world
Sims sees US as bright spot in scrap world
UAW, Ford reach tentative pact, avert strike at Kentucky Truck Plant
UAW, Ford reach tentative pact, avert strike at Kentucky Truck Plant
Final thoughts
Everyone knows the old saying that “a picture is worth a thousand words.” Just because it’s a cliché doesn’t mean that it’s wrong. A lot of inked has been spilled trying to figure out why prices are falling now. I thought it might be as simple as this: Market dynamics in the fourth quarter (UAW strike, companies buying ahead of an anticipated post-strike price spike, etc.) pulled forward restocking activity that typically happens in the first quarter. The post Final thoughts appeared first on Steel Market Update.
CRU: Scrap prices hit by weak demand offsetting tight supply
The CRUmpi declined by 1.7% month over month (m/m) to 325.2 in February, compared to a 4.3% m/m increase in February 2023. The post CRU: Scrap prices hit by weak demand offsetting tight supply appeared first on Steel Market Update.
Steel market chatter this week
What's the steel market talking about at present? The post Steel market chatter this week appeared first on Steel Market Update.
Miller on scrap: US East Coast boosted by Turkey
The scrap export market has demonstrated resiliency so far this year from the US East Coast. This strength has mainly come from the Turkish market. Despite weakening orders for rebar in their domestic market, imported scrap prices have held up until the last several days. The US West Coast is not as active, but there are orders in South Asia and in South America that are keeping things afloat. The post Miller on scrap: US East Coast boosted by Turkey appeared first on Steel Market Update.