Ferrous scrap prices settled up $30-40/GT in December for most regions and most grades, on top of the $15-20/GT increase in November, lending further support to rising finished steel prices. Not only did prices find support from seasonally tighter scrap supply, but mill demand was stable or higher month over month for most regions, said […] The post Ferrous Scrap Prices Rise $30-40 in December appeared first on Steel Market Update.
By Senior Analyst Ryan McKinley, from CRU’s Steel Metallics Monitor The CRU metallics price indicator (CRUmpi) rose by 7.5 percent m/m to 195.7 (see chart) after prices rose in most markets. The most pronounced rebounds were in the U.S. and European scrap markets, while prices in Asia either rose or were stable. Prices in regions […] The post CRU: Scrap Prices Find Floor as Supply Dries Up and Demand Returns appeared first on Steel Market Update.
By CRU Principal Analyst Chris Asgill There has been a marked rise in Chinese imports of pig iron and HBI this year. This has been primarily due to limited domestic scrap supply that cannot be offset by external supply due to restrictions in scrap imports. Limited scrap supply relative to demand has meant that scrap prices in […] The post CRU: Chinese Pig Iron Imports Lift as High Local Scrap Costs Persist appeared first on Steel Market Update.
Ferrous scrap prices traded $15-25/GT higher in November, with some variation by region, report Steel Market Update sources. Scrap prices were widely expected to rise in November due to slowing scrap flows, mills returning from seasonal outages, rising import demand and the onset of winter weather in some parts of the country. “Mills’ appetite for […] The post Ferrous Scrap Prices Up in November appeared first on Steel Market Update.
The following article on the hot rolled coil (HRC) steel and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week: Steel HR futures markets have been range-trading the last few weeks as participants have been focusing on what appears to be a […] The post Hot Rolled Futures: Unclear Market Sentiment Leaves Conviction on Price Direction Muted appeared first on Steel Market Update.
By CRU Analyst Alexander Ordosch Last week, Turkish scrap import prices were assessed at $248 /t CFR for HMS 80:20. Only one deal was assessed from Europe, after strong restocking activity over recent weeks. Prices have been rising in recent weeks as sellers have pushed for gains as it had become uneconomic to supply at the lower prices […] The post CRU: Turkish Scrap Import Price Edges Closer to $250/t appeared first on Steel Market Update.
By CRU Senior Analysts Ryan McKinley (USA), Ryan Smith (Australia) and Erik Hedborg (UK) Part three of our three-part series: What’s next for U.S. iron ore production? In parts one and two of our series, we examined the U.S. iron ore industry and reviewed recent market developments. We also explored the dependency of U.S. iron […] The post CRU: How Will U.S. Iron Ore Grow? Scenarios for the Future appeared first on Steel Market Update.
Ferrous scrap prices are expected to rise by about $20/GT in November, lending support to the increase in flat rolled prices announced by the mills last week. “With mills seeking the price hike, they are unlikely to push scrap lower. It would make their negotiating position more difficult,” said Ryan McKinley, CRU North America analyst. […] The post Scrap Prices Expected to Increase in November appeared first on Steel Market Update.
Compared to three months ago, all five of the raw materials prices considered in this report declined in October. Compared to September, there was a recovery in the prices of coking coal and zinc. Table 1 summarizes the price changes through Oct. 16 of the five materials considered in this analysis. It reports the month/month, […] The post Raw Materials Prices: Iron Ore, Coking Coal, Pig Iron, Scrap, Zinc appeared first on Steel Market Update.
The following article on the hot rolled coil (HRC) steel and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week: Steel Near date HR futures month prices have been a bit choppy so far this month as the HR index has dropped […] The post Hot Rolled Futures: A Pickup in Futures Market Price Inquiries for Cal’20 Quarters appeared first on Steel Market Update.