Tag: CRU

By Senior Analyst Ryan McKinley, from CRU’s Steelmaking Metallics Monitor The CRU metallics price indicator (CRUmpi) increased by 8.6% m/m in June to 402.4. This increase is primarily a reflection of large price increases for scrap in Europe and the U.S., although some increases occurred in Asia as well. After rising substantially in May, pig iron […] The post CRU: Scrap Exporting Markets Play Catchup During June Trade appeared first on Steel Market Update.

U.S. ferrous scrap prices have settled up $60 per gross ton on prime grades and up $50 per gross ton on obsoletes, according to market participants. “Regional markets were very consistent with the up $50 (per gross ton) on obsolete grades and up $60 (per gross ton) for primes,” one scrap executive said. “This resulted […] The post June Scrap Up $50-60/gt – Sideways in July? appeared first on Steel Market Update.

I want to thank the National Association of Steel Pipe Distributors for giving me a chance to open their summer conference in Denver last week. I spoke about – what else, these days – steel prices. During the Q&A afterward and on the sidelines of the event, it was clear people were worried about (a) […] The post Michael Cowden Speaks About Steel Prices, Scrap & China appeared first on Steel Market Update.

I want to thank the National Association of Steel Pipe Distributors for giving me a chance to open their summer conference in Denver last week. I spoke about – what else, these days – steel prices. During the Q&A afterward and on the sidelines of the event, it was clear people were worried about (a) […] The post Final Thoughts appeared first on Steel Market Update.

Today, the domestic steel mills in Detroit began buying ferrous scrap for June up $60 per gross ton on prime grades (busheling and bundles) and up $50 per gross ton on cut grades and shred. It is anticipated the rest of the country will follow the Detroit lead. One of the questions we are constantly […] The post Final Thoughts appeared first on Steel Market Update.

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 Increased directional volatility as well as inter-day volatility have helped increase hot rolled open interest. May is proving to be […] The post Hot Rolled Futures: Volatility Increases Open Interest appeared first on Steel Market Update.

Ferrous scrap prices in the U.S. are likely to see a big jump in June, estimated at $50-60 per gross ton or more, primarily as a result of strong demand from foreign buyers, sources tell Steel Market Update. “June will bring significant price increases for ferrous scrap. The biggest factor is the strength of the […] The post Ferrous Scrap Prices Expected to See Big Jump in June appeared first on Steel Market Update.

I wish I could start off writing about something other than steel prices. That said, since I joined SMU from Fastmarkets AMM in early January, the news really has been the price. SMU’s average hot-rolled price on Tuesday, May 4,  stood at $1,500 per ton ($75 per cwt). That’s a 12.8% increase from $1,330 per ton a month ago […] The post Final Thoughts appeared first on Steel Market Update.

With trading for May not quite finished this week, ferrous scrap prices appeared surprisingly strong, with obsolete grades up about $20/GT and prime grades moving sideways. Steel Market Update sources put the May price for shred in the range of $450-460 per gross ton, busheling at $590-600 per gross ton, and P/S at $440-445 per […] The post Ferrous Scrap Prices Up in May as Mills Modify Their Mix appeared first on Steel Market Update.

My first job in the steel industry started in July 1977. I have been involved with the industry ever since. I’m coming up on 44 years in a few months. That either makes me old or wise…well, old anyway. What I can tell you is during those 44 years I have never seen a market […] The post Final Thoughts appeared first on Steel Market Update.