Section: News

Ferrous scrap prices are up another $20-30/GT in January, on top of similar increases the prior two months, lending support to the finished steel price increases announced this week. Sources put January scrap prices around the following: Shred, $315-330; HMS, $270-275; Bush, $320; and Plate, $285- $310 per ton. Scrap prices typically rise in January […] The post Ferrous Scrap Prices Rise Another $20-30 Per Ton in January appeared first on Steel Market Update.

By CRU Senior Analyst Ryan McKinley, from CRU’s Steel Metallics Monitor The CRU metallics price indicator (CRUmpi) rose by 5.9 percent m/m to 223.5 (see chart) following price increases in nearly every market, the highest level since August 2019. Solid scrap demand has offset better than seasonally typical supply due to mild winter weather in the Northern Hemisphere. […] The post CRU: Scrap Demand Remains Strong During Mild Winter appeared first on Steel Market Update.

Commercial Metals Company is looking forward to a steady construction market in 2020 for its merchant bar and rebar products. “We are positioned to continue benefiting from the positive trends in our core markets and remain optimistic about the construction market, as many of the macro indicators we monitor point to resilience ahead,” said President […] The post CMC Optimistic Heading into 2020 appeared first on Steel Market Update.

Steel Market Update is pleased to share this Premium content with Executive level members. For more information on how to upgrade to a Premium-level subscription, email Info@SteelMarketUpdate.com. Key Market Indicators showed a substantial improvement in market trends in the December data. This report is designed to be a big picture summary of data SMU has […] The post SMU Analysis: Key Market Indicators through December appeared first on Steel Market Update.

Key Market Indicators showed a substantial improvement in market trends in the December data. This report is designed to be a big picture summary of data SMU has reported in detail during the month. It summarizes 36 data streams that describe the state of the steel market and provide forward guidance for steel buyers and […] The post SMU Analysis: Key Market Indicators through December appeared first on Steel Market Update.

In Q3 2019, Vietnam was second only to Turkey as a buyer of scrap on the global market. This Steel Market Update quarterly analysis uses data from the Iron and Steel Statistics Bureau (ISSB) in the UK. We believe that to improve our understanding of the gyrations of the domestic scrap market, we should be […] The post Global Scrap Market: Vietnam Now Major Scrap Buyer appeared first on Steel Market Update.

In Steel Market Update’s latest raw materials report, Table 1 summarizes the price changes through Dec. 18 of the five materials considered in this analysis. It reports the month/month, 3 months/3 months and 12 months/12 months changes on a percentage basis. Four of the five materials under consideration had a positive price movement in December. […] The post Raw Materials Prices: Iron Ore, Coking Coal, Pig Iron, Scrap, Zinc appeared first on Steel Market Update.

After declining for much of 2019, steel prices have moved up substantially in the last two months. Will the trend continue into 2020? Flat rolled steel producers raised prices three times during October and November for a total of $110 per ton. (Editor’s note: ArcelorMittal USA announced an additional $40 flat rolled increase on Friday. […] The post Will Steel Prices Keep Trending Up Into 2020? appeared first on Steel Market Update.

By CRU North America Senior Analyst Ryan McKinley, from CRU’s Steel Metallics Monitor The CRU metallics price indicator (CRUmpi) rose by 7.9 percent m/m to 211.1 (see chart) following price increases in nearly every market. Pervasive market tightness caused by adverse weather and higher domestic demand in major exporting markets forced buyers in import-reliant markets to accept higher […] The post CRU: Seasonal Supply Constraints and Firm Demand Lift Prices appeared first on Steel Market Update.

What’s ahead for the scrap market in 2020? Ben Abrams, president and CEO of Consolidated Scrap Resources, Inc., in York, Pa., offers the following prognostication: It’s always difficult to predict what will happen to ferrous scrap prices even a few months ahead of time, let alone for the full year, because the ferrous market is […] The post Abrams: Ferrous Scrap Outlook “Better” in 2020 appeared first on Steel Market Update.