Section: News

Multiple major North American automakers have or will temporarily halt production because of a semiconductor shortage, something that could have an impact on steel and scrap prices. General Motors will effectively stop production at three assembly plants–one each in the United States, Canada and Mexico–next week because of a semiconductor shortage, the company confirmed. GM […] The post GM, Ford North America Plants Hit by Chip Shortage – Price Impact? appeared first on Steel Market Update.

Multiple major North American automakers have or will temporarily halt production because of a semiconductor shortage, something that could have an impact on steel and scrap prices. General Motors will effectively stop production at three assembly plants–one each in the United States, Canada and Mexico–next week because of a semiconductor shortage, the company confirmed. GM […] The post GM, Ford North America Plants Hit by Chip Shortage – Price Impact? appeared first on Steel Market Update.

Among steelmaking raw materials, the prices of iron ore, pig iron and scrap saw large gains in January compared to months prior, up as much as 86 percent year over year. Coking coal prices, which rebounded compared to recent months, were still down 9 percent in January versus prices one year ago. Zinc prices have declined […] The post Raw Materials Prices: Iron Ore, Coking Coal, Pig Iron, Scrap, Zinc appeared first on Steel Market Update.

Stronger longer than many anticipated…. An interesting comment from a couple of service centers today, one in the South and another in the Midwest. These two companies agree that the last $100 to $150 per ton in price increases are from panicked buyers. Once those panic buyers are removed from the market…then what? I have […] The post Final Thoughts appeared first on Steel Market Update.

Steel and scrap prices continued to climb throughout January, fueled by strong demand and tight supply. Hot rolled steel prices surpassed $1,000 per ton in the first week of the year, levels not seen in over a decade. Steel Market Update’s hot rolled price index reached $1,140 per ton by the end of January, up […] The post SMU’s January At-a-Glance appeared first on Steel Market Update.

Steel Market Update’s check of the market this week puts the benchmark price for hot rolled at $1,180 per net ton. The spot market continues to set new highs for the HR price, which in the second week of January topped the old record of $1,070 per ton reported by SMU in 2008. It has […] The post Final Thoughts 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 Price and forecast volatility continue to plague the ferrous markets, but how close are we to the top? Hot rolled […] The post Hot Rolled Futures: How Close Are We to the Top? 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 January has been a turbulent month all the way around—HR futures markets included. After a few months of high velocity price […] The post Hot Rolled and Scrap Futures: Turbulent Month 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 Price and forecast volatility continue to plague the ferrous markets, but how close are we to the top? Hot rolled […] The post Hot Rolled Futures: How Close Are We to the Top? appeared first on Steel Market Update.

Cracks might be forming in the groundwork that has to date led U.S. flat-rolled steel prices to their highest point on record. Whether they are big enough to send towering prices tumbling down or merely a distraction remains to be seen, markets sources generally agreed. Prices have nowhere to go but up in the short […] The post Cracks Forming in Towering U.S. Steel Prices? appeared first on Steel Market Update.