What a difference a month makes in light of a difficult forecast environment for hot rolled (HR) prices. The mills have been raising HR spot prices faster than folks can track, and the futures appear to be in lockstep as lead times continue to extend. While steel capacity utilization rate seems stuck in the mid-70% […] The post HR Futures, Spot Prices Move Higher As Lead Times Extend appeared first on Steel Market Update.
We’ve just seen the biggest week-over-week increase in hot-rolled coil prices since the frenzy following Russia’s invasion of Ukraine last year. SMU’s hot-rolled coil (HRC) price is up $140 per ton ($7 per cwt) week over week. That’s our biggest such gain since prices jumped $210 per ton in mid-March of last year at the height of […] The post Final Thoughts appeared first on Steel Market Update.
By CRU Research Analyst Rosy Finlayson, from CRU’s Steelmaking Raw Materials Monitor Last week, trading activity in the Turkish scrap import market was limited. Buyers held off on purchasing material as they awaited details on the announcement of a finished steel price cap agreement between the Turkish Trade Ministry and steelmakers. However, deals done late […] The post CRU: Turkish Scrap Import Prices Rise appeared first on Steel Market Update.
US-based Commercial Metals Company (CMC) says it has purchased Roane Metals, which has capacity to process around 85,000 s.tons/y of ferrous and non-ferrous metals at two scrapyards in Tennessee. “The majority of volumes relate to obsolete ferrous scrap grades consumed by CMC’s long product mills,” the Texas-based group said. “The acquired assets are expected to enhance […]
Editor’s note: Steel Market Update is pleased to share this Premium content with Executive members. For information on how to upgrade to a Premium-level subscription, contact Lindsey Fox at lindsey@steelmarketupdate.com Flat Rolled = 52.9 Shipping Days of Supply Plate = 45.8 Shipping Days of Supply Flat Rolled US service center flat-rolled steel supply in January reflected typical […] The post Service Center Shipments and Inventories Report for January appeared first on Steel Market Update.
Members of the Association of Builders and Developers in Pakistan are refusing to unload steel bars on to construction sites for a week in protest at a sharp price increase. They will review the situation on 15 February, association chairman Altaf Tai said. Builders face having to pay up to an “unprecedented” PKR303,500 /t ($1,116 […]
Let’s just clear the air of any confusion here. It looks like Nucor’s price increase – $50 per ton ($2.50 per cwt) – announced earlier this week was a catch-up to an increase of the same amount announced by Cleveland-Cliffs in mid-December. Assuming that’s the case, we’ve had two rounds of price increases since Thanksgiving. […] The post Final Thoughts appeared first on Steel Market Update.
Turkish scrap import prices increase w/w Turkish scrap prices have been rising consistently since the end of 2022 and into the first week of 2023. Last week, we were reported two confirmed deals at the level of ~$396 /t for HMS 80:20, which were closed at the end of December. Since then, a total of […]
Global scrap prices have stabilised or increased in late 2022, supported by seasonal weather disruption and inflated freight rates. This, coupled with improved sentiment following the China reopening, has triggered a wave of restocking that led us to revise upwards the forecast for 2023 Q1 and slightly for Q2, when we believe steel prices will […]
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 Hot-rolled futures have pushed higher in year-end thin trading. December daily futures trading volumes hovered around 19,000 short tons (ST) per […] The post HR Futures: Will Demand Support the Latest Price Push? appeared first on Steel Market Update.