Members of the Association of Builders and Developers in Pakistan are refusing to unload steel bars on to construction sites for a week in protest at a sharp price increase. They will review the situation on 15 February, association chairman Altaf Tai said. Builders face having to pay up to an “unprecedented” PKR303,500 /t ($1,116 […]
SMU’s hot-rolled coil price has cracked $800 per ton ($40 per cwt), and so have prices on the futures market. The question of whether the $800-per-ton threshold would be breached has been answered. But it’s still unclear to me whether that threshold was breached by solid underlying demand or by momentum (buying ahead of the next […] The post Final Thoughts appeared first on Steel Market Update.
Current Steel Buyers Sentiment ticked up this week, while Future Steel Buyers Sentiment edged down, according to SMU’s most recent survey data. SMU’s Steel Buyers Sentiment Indices measure how steel buyers feel about their company’s ability to be successful in the current market, as well as three to six months down the road. Every other […] The post SMU Buyers Sentiment Indices Mixed appeared first on Steel Market Update.
A wide majority of steel market participants expect prime scrap prices to climb in February, according to SMU’s most recent survey data. When polled if prime scrap prices would rise this month, 70% of respondents answered “yes” for the survey ended Thursday, compared with 68% in the survey that closed Jan. 19. Scrap market sources […] The post February Scrap Prices Expected to Rise appeared first on Steel Market Update.
We’ll kick off the Tampa Steel Conference next Sunday, and I’m looking forward to seeing many of you there in person. For kicks, I decided to look back at how the market was in mid-February 2022, when we held the event along with the Port of Tampa Bay last year. So join me for a […] The post Final Thoughts appeared first on Steel Market Update.
The cost and scope of Steel Dynamics Inc.’s flat-rolled aluminum mill in Columbus, Miss., and related scrap processing operations, have increased. The total cost of the project is now expected to be $2.5 billion, up from an initial $2.2 billion, SDI chairman, president, and CEO Mark Millett said during the quarterly earnings call last week. […] The post SDI Aluminum Mill Set to Cost Up to $2.5B, Mid ’25 Startup Slated appeared first on Steel Market Update.
The spread between hot-rolled coil (HRC) and prime scrap prices has remained relatively flat vs December levels, according to Steel Market Update data. Prices for both products rose in January vs. the end of 2022. Our hot-rolled coil price average ticked up $5 per ton week over week to $740 per net ton ($37.00 per cwt) as […] The post Hot Rolled vs. Prime Scrap Price Spread Holds Steady appeared first on Steel Market Update.
SSAB Americas has announced plans to increase plate prices by at least $60 per ton ($3 per cwt). The price hike applies equally to as-rolled, normalized, quenched-and-tempered, and wide cut-to-length plate products. It is effective immediately on all new, non-contract orders confirmed to ship the week of March 5 or later, the company said in […] The post SSAB Aims to Raise Plate Tags by at Least $60/ton appeared first on Steel Market Update.
Let’s just clear the air of any confusion here. It looks like Nucor’s price increase – $50 per ton ($2.50 per cwt) – announced earlier this week was a catch-up to an increase of the same amount announced by Cleveland-Cliffs in mid-December. Assuming that’s the case, we’ve had two rounds of price increases since Thanksgiving. […] The post Final Thoughts appeared first on Steel Market Update.
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.