RMU survey results: The industry remains in a state of uncertainty
September is historically an active contract execution month; but this year the market paused amid uncertainty.
Tag: #1 Bundles
Peterson: With more EAFs in play, which feed will rise to the top?
If you have been paying attention, you will notice that the price of shred is getting very close to #1 busheling and #1 bundles in most markets
Domestic scrap tags soar in December
US scrap prices shot up in December and are expected to continue their rise in January, market sources told SMU. The post Domestic scrap tags soar in December appeared first on Steel Market Update.
Scrap Insight: Scrap Optimization as a Hedge on Pig Iron Usage?
Some of the movements in scrap and pig iron pricing over the past 18-24 months have been quite drastic. The post Scrap Insight: Scrap Optimization as a Hedge on Pig Iron Usage? appeared first on Steel Market Update.
Scrap Insight: All Eyes on UAW as ‘Unsettled’ Oct. Trade Approaches
The US scrap market for October is a bit unsettled as the UAW strike against the Big Three automotive companies has expanded and shows scant signs of an imminent settlement. The post Scrap Insight: All Eyes on UAW as ‘Unsettled’ Oct. Trade Approaches appeared first on Steel Market Update.
Market Reaction: Cliffs’ Deal for FPT Could Shift Scrap Flows
As “the next precious metal,” prime scrap is a growth opportunity and a logical fit for Cleveland-Cliffs, which announced Monday that it plans to acquire Detroit-based Ferrous Processing and Trading Co. (FPT). The $775-million deal, Cliffs’ first foray into scrap, comes as no big surprise to most market observers. Cleveland-Cliffs is the largest producer of […] The post Market Reaction: Cliffs’ Deal for FPT Could Shift Scrap Flows appeared first on Steel Market Update.
Prime Scrap Trades Down $20/GT in October
With trading still winding down today, it appears ferrous scrap prices for October will settle down $20/GT on prime grades and sideways for obsoletes. Most Steel Market Update sources expect scrap prices to start moving higher in the months ahead. “After Cleveland-Cliffs bought busheling last week basically sideways, the U.S. mills stubbornly waited a week […] The post Prime Scrap Trades Down $20/GT in October appeared first on Steel Market Update.
Ferrous Scrap to Start the New Year Strong
Ferrous scrap prices are expected to trade significantly higher again in January on strong demand from mills both domestic and foreign, report Steel Market Update sources. Scrap jumped by more than $70/GT in December and the uptrend is likely to continue into the new year, lending further support to higher finished steel prices. “Like many […] The post Ferrous Scrap to Start the New Year Strong appeared first on Steel Market Update.
U.S Ferrous Scrap Markets Firm for June
Steel Market Update ferrous scrap sources expect a sideways to slightly higher domestic market, while the export markets see some pricing pressure. The following is what one of our scrap and pig iron sources had to say about the domestic market as of this weekend: “The U.S. scrap market should be characterized as firm for […] The post U.S Ferrous Scrap Markets Firm for June appeared first on Steel Market Update.