Turkish scrap prices fell on two fresh deals in the week commencing 12 September, down to $349 /t CFR for HMS 1/2 80:20 (-$22 /t w/w, -$46 /t m/m). Scrap prices(1) $/t 19-Aug 26-Aug 02-Sep 09-Sep 16-Sep HMS 1/2 80:20 CFR Turkey 395 393 396 371 349 Shredded CFR Turkey 415 413 416 391 369 Notes: […]
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 This futures market has no direction currently, summing up the sentiment in hot rolled as of late. After a slight index […] The post Hot Rolled Futures: Faulty Compass Leaves Market Participants Sidelined appeared first on Steel Market Update.
Steel Market Update sources report ferrous scrap prices declined by as much as $30 per gross ton in September, going against previous expectations that prices would remain stable or even increase. September marks the sixth consecutive month of declines since March–April’s record high prices. Prime scrap fell by $30 per gross ton from the month […] The post Scrap Prices Decline in September, Against Expectations appeared first on Steel Market Update.
Turkish scrap import prices decreased w/w Turkish scrap prices fell last week, down to $371 /t CFR for HMS 1/2 80:20 (-$25 /t w/w, -$21 /t m/m). Trading activity has remained thin. Scrap prices(1) $/t 12-Aug 19-Aug 26-Aug 02-Sep 09-Sep HMS 1/2 80:20 CFR Turkey 392 395 393 396 371 Shredded CFR Turkey 412 415 413 […]
Turkish scrap import prices decreased marginally w/w Last week, Turkish scrap prices fell by a marginal $2 /t w/w (up $28 /t m/m) to $393 /t CFR for HMS 1/2 80:20. Market activity calmed again after a series of purchases in mid-August. Turkish mills have lowered their finished longs offers by 10–20 /t w/w due […]
Keynote speaker Paul Lowrey presented at the SMU Steel Summit Conference today, explaining his market thoughts through data on US steel market capacity, steel mill consolidation, and the scrap market. As president of Steel Research Associates (SRA) with a career spanning 30 years, Lowrey opened his segment explaining, “I’ve been labeled by some as a […] The post Paul Lowrey: It’s a Great Time to Be in the Steel Industry appeared first on Steel Market Update.
Seven people working in the scrap industry were detained as police and soldiers intervened to break up three days of road blocks and protests in Claxton Bay, Trinidad, against a temporary prohibition of scrap exports. The government’s motive is to crack down on theft, primarily of copper and cables. The ban is intended to be short […]
Turkish scrap import prices increased w/w Turkish scrap slightly edged higher to $395 /t CFR for HMS 1/2 80:20 (+$3 /t w/w, -$11 /t m/m). Market activity has picked up after the initial price increase, and we heard five deals ranging from $387 /t to $402 /t CFR Turkey for HMS 80:20. Scrap prices(1) $/t 22-Jul […]
The Trinidad and Tobago government has outlawed the shipping of most scrap steel and copper abroad for, provisionally, six months to tackle the theft of infrastructure. Telcom TSTT and water company WASA have been worst hit, with service to customers affected. The prohibition is intended to be short term while the government devises a legislative […]
The Kyrgyz government is introducing a six-month ban on shipments of ferrous metal scrap and waste, and ferrous metal ingots outside the Eurasian Economic Union (EEU). The measure is one of a series announced by the government, including restricting exports of precious metals and products containing precious metals to less than 500 kg. Kyrgyzstan previously […]