Steel market chatter this week
What's the steel market talking about at present? The post Steel market chatter this week appeared first on Steel Market Update.
What's the steel market talking about at present? The post Steel market chatter this week appeared first on Steel Market Update.
The market for February scrap shipments has largely been settled. The prices for scrap across the country went down very modestly. The price tags on #1 Busheling and bundles went down $10 per gross ton (gt) in most districts. The exceptions were Chicago and Detroit, which fell $30/gt, to $480 and $475, respectively. The post Miller on scrap: February tags seen edging down appeared first on Steel Market Update.
The pig iron market has risen in recent months from the high $390s per metric ton (mt) last fall to $490/mt for Brazilian material and a bit more for Ukrainian product - for an overall average of $495/mt CFR. The post Miller on raw materials: A pig iron market update appeared first on Steel Market Update.
US scrap prices for January remained unsettled as of early Thursday afternoon, according to market sources. The post January scrap tags on wild ride in still unsettled market appeared first on Steel Market Update.
The US scrap trade was still being finalised at the time of writing, and the tug-of-war between mills and dealers left the market in limbo for several days. Detroit and Midwest mills initially entered the market with bids lower m/m for both prime and secondary grades, but dealers were pushing to keep prices flat. Ultimately, […]
A Detroit-area mill entered the scrap market on Friday afternoon with the following offers: The Chicago area followed suit: Mills in the Great Lakes region sensed there was ample supply of most grades. Also, they all bought heavily last month and so had sufficient inventories to make this move, market participants said. Still, the move surprised […] The post Detroit, Chicago enter Jan scrap mart with lower offers appeared first on Steel Market Update.
Scrap prices majorly increased m/m in December with supply holding at low levels, as is seasonally expected, while demand strengthened, most noticeably in the USA. The sudden price rise was also seen in Europe, while Asian prices rose by a much lesser extent. Other metallics prices also increased. Scrap prices rise on western markets’ demand […]
As we look back at the scrap market for 2023, it basically followed its normal seasonal pattern. Most of the disruptive geopolitical events that riled ferrous raw materials occurred in 2022. So, with those things out of the way—or settling down at least for now—2023 resumed its normal pattern. The post Miller on scrap: 2023 in review appeared first on Steel Market Update.
Over the last two decades, the role of the scrap broker has been diminished in favor of steel mills purchasing their scrap requirements directly from scrap dealers. The post Miller on scrap: The diminished role of the scrap broker appeared first on Steel Market Update.
The CRUmpi rose by 11.1% m/m to 334.4 in December, its highest value since April 2023. Moreover, the m/m percentage increase is the highest since April 2022 – when prices surged because of the supply disruption caused by the war in Ukraine. Europe and the USA led the sharp price upswing as scrap supply tightened […]