US scrap prices for January remained unsettled as of early Thursday afternoon, according to market sources. The post January scrap tags on wild ride in still unsettled market appeared first on Steel Market Update.
I expected that we’d start off January with prime scrap prices modestly up if for no other reason than industrial activity typically slows down over the holidays. And mills’ appetite for scrap typically increases in anticipation of stronger Q1 order activity. The post Final thoughts appeared first on Steel Market Update.
I’d have been surprised if anyone told me just last week that the January scrap market might move lower. What we saw on Friday were offers. Not settlements. And no doubt there are still some twists and turns in store before we can say for sure which way scrap will go. The post Final thoughts appeared first on Steel Market Update.
A Detroit-area mill entered the scrap market on Friday afternoon with the following offers: The Chicago area followed suit: Mills in the Great Lakes region sensed there was ample supply of most grades. Also, they all bought heavily last month and so had sufficient inventories to make this move, market participants said. Still, the move surprised […] The post Detroit, Chicago enter Jan scrap mart with lower offers appeared first on Steel Market Update.
SMU polled steel buyers on a variety of subjects this past week, including purchasing practices, steel sheet prices, scrap, and the future market. The post Steel market chatter this week appeared first on Steel Market Update.
After a brief decline in the price of scrap for the Turkish market, which peaked in December at approximately $424 per metric ton (mt) for HMS 80/20, the market has bottomed at $405/mt on cargoes from Europe. The post Miller on scrap: Different paths for US, foreign exports appeared first on Steel Market Update.
New Delhi has abandoned plans to privatise the Salem Steel Plant in Tamil Nadu state because of a lack of investor interest. “Multiple EoI [expressions of interest] had been received and bidders were shortlisted,” the Press Trust of India news agency reported the department of investment and public asset management as saying. “However, due to […]
Global metal recycler and steel producer Schnitzer Industries of the US posted a fiscal Q1 net loss of $18 M (€16.5 M) amid poorer prices and generally reduced shipments in the three months to 30 November. “Operating performance in the first quarter reflected sequentially tighter supply flows for recycled metals, which, together with lower average […]
Radius Recycling reported a net loss in its fiscal first quarter of 2024 on tighter supply flows for recycled metals and lower average selling prices for the company’s products. The post Radius Recycling posts quarterly loss on tight supply flows, lower tags appeared first on Steel Market Update.
SMU doesn’t do forecasts. We leave that to our colleagues at CRU. But we’re pretty good at surveys, and we’ve got a great group of readers. That’s why we decided to ask you what’s in store for 2024. The results are below, along with some insightful comments in italics. The post Final thoughts appeared first on Steel Market Update.