Scrap market prices increased in January month over month on poor flows in December and surging export demand, according to scrap executives. “Obsolete flows are down seasonally, and export prices have shown dramatic increases over the last month,” one scrap executive said. He said Detroit mills entered the market last week at prices up $60 per gross […] The post Scrap Prices Rise Boosted by Export Demand appeared first on Steel Market Update.
By now, anyone who works in the steel industry understands how important sustainability is. Steel is the most recycled material in the world, and recycled steel is a prominent ingredient in electric-arc furnace (EAF) steelmaking. Steel Market Update’s final Spotlight of 2022 gets into sustainability with Philip Bell, president of the Steel Manufacturers Association (SMA), […] The post SMU Spotlight: Phil Bell Talks Sustainability appeared first on Steel Market Update.
Steel mills are less willing to negotiate prices as we enter into the new year. With the exception of Galvalume, all of the products SMU surveyed remained more fixed in price compared with the last market check two weeks ago, and a far cry from early November of last year. In fact, the plate market […] The post Steel Mills Continue to Balk at Negotiating Lower Tags appeared first on Steel Market Update.
Sheet prices entered 2023 moving upward on expectations of higher prime scrap prices, and on a modest uptick in activity as some buyers looked to get ahead of anticipated higher steel prices as well. The gains also came on the heels of a price increase of $50 per ton ($2.50 per cwt) initiated last month […] The post SMU Price Ranges: Sheet Starts ’23 Moving Up appeared first on Steel Market Update.
Luxembourg-based ArcelorMittal has agreed to purchase Zlomex, a scrap metal recycling company with two yards in Poland. Last year they shipped almost 400,000 t of ferrous scrap metal to a range of steel mills and foundries, including ArcelorMittal's steel plants in Dąbrowa Gornicza and Warsaw. Zlomex, Zaklad Przerobu Zlomu in full, added a new shredder and […]
Steel Market Update is taking some time off for Christmas and the New Year. Our last issue of 2022 will be published on Thursday, Dec. 22. Our offices will be closed the week of Dec. 26-30, as well as on Monday, Jan. 2. In addition, we will not update prices on Tuesday, Dec. 27. We […] The post Holiday Notice: Christmas and New Year appeared first on Steel Market Update.
The spread between hot-rolled coil (HRC) and prime scrap prices is narrowing for the second consecutive month, according to Steel Market Update data. Prices for both products increased in December, following five consecutive months of declines. The latest HRC-prime spread is one of the lowest recorded in more than two years. The spread is now back […] The post Hot Rolled vs Prime Scrap Price Spread Remains Low appeared first on Steel Market Update.
Ferrous scrap prices increased from November to December, according to Steel Market Update sources, breaking the seven-month cycle of price declines. Buyers reported prime scrap prices increased roughly $30 per gross ton, while shredded prices rose $20 per ton. “Scrap prices are up a minimum $20-30 per ton this month,” reported one scrap executive. He […] The post Scrap Prices Rise in December, Higher Expectations for January appeared first on Steel Market Update.
After surging in late November to a five-month high, Steel Market Update’s (SMU) Steel Buyers Sentiment Index slipped three points through Dec. 8th. Our Future Buyers Sentiment Index also fell a few points from it’s previous high, down three points in comparison to two weeks prior. Buyers Sentiment remains strong overall, and Current Sentiment is […] The post SMU Sentiment Index Dips From 5-Month High, But Remains Strong appeared first on Steel Market Update.
Steel mill lead times extended across the board this week, with production times increasing for all five products we track. Recall that lead times for hot-rolled, cold-rolled, and galvanized products were previously at or near multi-year lows in our late November market check. Lead times are up by an average of 0.5 weeks compared to […] The post Steel Mill Lead Times Change Direction, Extend Modestly appeared first on Steel Market Update.