Nucor led the charge of the East Coast flat rolled steel mills in an effort to keep prices moving higher. On Wednesday, Nucor, followed by U.S. Steel, put out announcements advising customers of their intention to raise spot flat rolled prices by $40 per ton. Soon after, NLMK USA and AK Steel followed Nucor’s lead […] The post Flat Roll Mills Seek New Price in New Year appeared first on Steel Market Update.
The following industry data, current through the end of the month of December 2017, covers a number of important indices and drivers of steel prices, as well as supply and demand. As the month ended, the Steel Market Update (SMU) Price Momentum indicator was referencing higher flat rolled steel prices over the next 30 to […] The post December at a Glance appeared first on Steel Market Update.
When Steel Market Update (SMU) began talking to our ferrous scrap sources over the past couple of days, we got a variety of opinions as to where prices will go for the month of November. From the East Coast we heard sideways was the most likely direction with a little “slightly stronger” for prime grades […] The post Ferrous Scrap Pricing for November: Sideways, Higher, Lower? appeared first on Steel Market Update.
When Steel Market Update (SMU) began talking to our ferrous scrap sources over the past couple of days, we got a variety of opinions as to where prices will go for the month of November. From the East Coast we heard sideways was the most likely direction with a little “slightly stronger” for prime grades […] The post Ferrous Scrap Pricing for November: Sideways, Higher, Lower? appeared first on Steel Market Update.
On Friday, Steel Market Update (SMU) adjusted our Price Momentum Indicator to Lower from Neutral. It is our opinion that flat rolled steel prices will move lower over the next 30 days for the following 10 reasons: First, when the head of commercial of a domestic steel mill tells SMU that “transaction pricing cannot go […] The post Ten Reasons Why SMU Price Momentum Indicator Adjusted to “Lower” appeared first on Steel Market Update.
It has been another busy week here at Steel Market Update. We are hearing from steel buyers that Nucor is considering raising flat rolled prices by $25 per ton within the next few working days. The increase would follow an increase in ferrous scrap prices for August delivery. We have also heard that at least […] The post Final Thoughts appeared first on Steel Market Update.
It is the first week of May and the negotiations between the long and flat rolled steel mills have been in full swing all week. By late today (Thursday) word of how the scrap dealers had fared has been coming into our offices. The first region to settle was Detroit which was up $10 on […] The post Ferrous Scrap Pricing for May “Strong Sideways” to Slightly Higher appeared first on Steel Market Update.
Buyers and sellers of flat rolled steel having been bouncing like the proverbial rubber ball over the past six weeks as they try to make sense of where steel prices are heading over the near term. Steel Market Update (SMU) asked those responding to our flat rolled steel market trends survey last week where they […] The post Steel Prices at a Peak or Do We Have More Room to Run? appeared first on Steel Market Update.
Early indications (and we should put special emphasis on the word “early”) are for ferrous scrap prices to trend slightly lower on shred and obsolete grades while prime grades (busheling/bundles) are expected to trade sideways due to strong demand from sheet mills. In March, prices for prime grades of scrap rose $60-$65 per gross ton […] The post April Ferrous Scrap Prices: No Dramatic Shifts in Pricing Seen appeared first on Steel Market Update.
Steel Market Update (SMU) has adjusted our Price Momentum Indicator to reference spot prices as moving higher from this point over the next 30 days. Our decision to move our indicator is due to the continued high prices for steel mill inputs, such as 62% Fe iron ore fines in China being sold at $91.50/dmt […] The post SMU Price Momentum Indicator Moved to Higher from Neutral appeared first on Steel Market Update.