We’ve spilled a lot of ink over labor contract talks between US Steel and the United Steelworkers (USW) union. That issue is no doubt important. But here are two more that are just as important, if not more so. And you should have both on your radar as you start this week. First is the […] The post Final Thoughts appeared first on Steel Market Update.
Turkish scrap import prices increased w/w Turkish scrap prices rebounded on a fresh deal last week, for the first time since the beginning of September. Our assessment for HMS 1/2 80:20 rose to $365 /t CFR, up by $21 /t w/w and down by $31 /t m/m. Scrap prices(1) $/t02-Sep09-Sep16-Sep23-Sep30-SepHMS 1/2 80:20 CFR Turkey396371349344365Shredded CFR Turkey416391369364385Notes: […]
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 (HR) futures participants market watch as they wait for signs that demand will return even as the dollar continues to […] The post Hot Rolled Futures: Participants Watch for Signs Demand Will Return appeared first on Steel Market Update.
Steel Market Update sources expect ferrous scrap prices to be sideways to down in October, potentially the fifth consecutive monthly decline since the record highs seen earlier this year. Obsolete grades are anticipated to fall as much as $20 per gross ton or more, while prime scrap is expected to remain flat or slightly decline. […] The post October Scrap Expected to be Sideways to Down $20/Ton appeared first on Steel Market Update.
The committee of industrial development in Kazakhstan plans to prolong a prohibition on foreign shipments of ferrous and non-ferrous metal scrap and wastes for another six months from 6 October. But the proposal will first be open to public discussion until 5 October, the Metals Daily News service in Ukraine reported. A six-month ban was imposed on […]
Turkish scrap import prices marginally declined w/w Turkish scrap prices fell marginally last week, down to $344 /t CFR for HMS 1/2 80:20 (-$5 /t w/w, -$49 /t m/m). Scrap prices(1) $/t26-Aug02-Sep09-Sep16-Sep23-SepHMS 1/2 80:20 CFR Turkey393396371349344Shredded CFR Turkey413416391369364Notes: (1) weighted average of known transactions from all points of origin. Turkish longs export demand was subdued last […]
We’ve seen a wave of mill idlings and outages this fall. But steel buyer reaction to date has been subdued. The yawn now in response to all those tons coming out of the market stands in stark contrast to the almost hysterical reaction to downtime at even the smallest producers in early 2021. Remember the […] The post Final Thoughts appeared first on Steel Market Update.
By CRU Research Analyst Aaron Kearney-Keaveny, from CRU’s Steelmaking Raw Materials Monitor The CRU metallics price indicator (CRUmpi) rose by 2.2% month-on-month (MoM) to 312.3, following four continuous months of decline since May 2022. This MoM rise in the CRUmpi was specifically driven by a sharp rebound in Asian scrap prices while European prices stabilized. […] The post CRU: Scrap Prices Lift from Restocking, But Less Than Expected appeared first on Steel Market Update.
Growth is on the horizon for Commercial Metals Company (CMC). The Irving, Texas-based metals provider and recycler announced its acquisition of Advanced Steel Recovery LLC (ASR) in a press release on Sept. 15. In addition to supplying recycled ferrous metals, Rancho Cucamonga, Calif-.based ASR possesses processing and brokering capabilities with which they can procure material […] The post CMC Announces Acquisition of Advanced Steel Recovery appeared first on Steel Market Update.
By CRU Research Analyst Rosy Finlayson, from CRU’s Steelmaking Raw Materials Monitor European scrap prices remained relatively unchanged month-on-month (MoM) in September. Buying activity has been slow after the summer holidays despite this being the normal restocking period. Finished steel mills are reportedly sufficiently stocked at present. Scrap prices in Europe now range between €300 […] The post CRU: European Scrap Prices Stagnate, Buying Activity Remains Low appeared first on Steel Market Update.