By CRU Senior Analyst Ryan McKinley from CRU’s Steel Metallics Monitor The CRU metallics price indicator (CRUmpi) rose by 14.4% m/m in March to 354.4, bouncing back above levels seen in January. China’s return to the steel market following New Year holiday celebrations there helped lift steel and scrap prices in Asia, while seasonally constrained […] The post CRU: Metallics Prices Rebound as Markets Tighten appeared first on Steel Market Update.
By CRU Senior Analysts Ryan Smith and Ryan McKinley, from CRU’s Steelmaking Raw Materials Monitor Steel Market Update is pleased to share this Premium content with Executive members. For information on upgrading to a Premium-level subscription, email Info@SteelMarketUpdate.com. The need for virgin iron units in the U.S. market is rising as new electric-arc furnace (EAF) […] The post CRU: U.S. Blast Furnaces Positioned to Supply Domestic Pig Iron appeared first on Steel Market Update.
The following article on the hot rolled coil (HRC), scrap and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week: Hot Rolled The market saw another strong move up in HR futures prices accompanied by strong volume buying. Daily average HR futures […] The post HR Futures: Prices in Flux Along the Curve as Spot Presses Higher appeared first on Steel Market Update.
As expected, ferrous scrap prices for March settled up $50 per ton for obsolete grades and up $70 per ton for prime grades in most parts of the U.S., reported Steel Market Update sources. April scrap is likely to remain relatively unchanged. “Looking forward, I don’t see downside for prime grades in April. Depending on […] The post March Scrap Settles Up $50-70/GT appeared first on Steel Market Update.
Ferrous scrap prices have traded flat to down in April following a big jump in March. Steel Market Update sources report the price for obsolete grades down $20/GT, while prime grades traded sideways. The price for shredded scrap is about $430/GT delivered to the mills in the Midwest and South. Prime grades are around $130-140 […] The post Ferrous Scrap Prices Trade Flat to Down in April appeared first on Steel Market Update.
Obsolete scrap prices are widely expected to decline in April, while prime scrap prices move sideways, predict Steel Market Update sources. Ferrous scrap prices saw a big jump in March, adding to the upward momentum on finished steel prices, but the April effect is shaping up to be more moderate. “Growing obsolete scrap availability caused […] The post Price for Obsolete Scrap Expected to Dip in April appeared first on Steel Market Update.
With negotiations still ongoing this week, it appears ferrous scrap prices will see a big jump in March, as was widely expected. Steel Market Update sources reported that scrap pricing announced in Detroit today was up $70 per ton on prime grades and up $50 per ton on obsoletes. Other regions of the country are […] The post March Scrap Up $50-70 in Detroit appeared first on Steel Market Update.
With negotiations still ongoing this week, it appears ferrous scrap prices will see a big jump in March, as was widely expected. Steel Market Update sources reported that scrap pricing announced in Detroit today was up $70 per ton on prime grades and up $50 per ton on obsoletes. Other regions of the country are […] The post March Scrap Up $50-70 in Detroit appeared first on Steel Market Update.
Steel prices continued their upwards climb in the month of February, fueled by strong demand and tight supply. Hot rolled steel prices surpassed $1,200 per ton in the third week of the month, reaching levels never before seen. Steel Market Update’s hot rolled price index reached $1,210 per ton by the end of February, up […] The post SMU’s February At-a-Glance appeared first on Steel Market Update.
Steel prices took another bite out of the record books in March. The advent of March shows flat rolled and plate steel prices are still roaring upwards, with hot rolled hitting another record high of $1,240 per net ton, according to Steel Market Update’s check of the market this week. Prices generally moved up in […] The post SMU Price Ranges & Indices: March Steel Prices Come in Like a Lion appeared first on Steel Market Update.