Tag: Export

Steel Market Update sources expect ferrous scrap prices to weaken further in August, potentially registering the fourth consecutive month of declines since March and April’s record high prices. Obsolete grades are anticipated to decrease around $30 per gross ton over July, while prime scrap is expected to ease marginally. “Despite what I think is slightly […] The post August Scrap Prices Expected to Slightly Weaken appeared first on Steel Market Update.

Steel Market Update sources reported ferrous scrap prices fell significantly in July, the third consecutive month of declines since peaking in March and April. Prime grades declined as much as $150 per gross ton, while obsolete grades decreased $30-50 per ton. Scrap prices are now in line with levels seen in the first two months […] The post Prime Scrap Prices Fall as Much as $150/Ton in July, Bottom Near? appeared first on Steel Market Update.

Luxembourg-headquartered ArcelorMittal will install a 2.5 Mt/y direct reduced iron (DRI) pellet unit at its Dofasco flat rolled steel works in Hamilton, Ontario. The plant is switching from the integrated blast furnace-basic oxygen furnace (BF-BOF) steel making route to the mini-mill DRI-EAF (electric arc furnace) route to lower its carbon footprint. The estimated savings in CO2 emissions […]

Steel Market Update sources expect ferrous scrap prices to fall again in July, the third consecutive month of declines since March and April’s record high prices. Both prime and obsolete grades are expected to decrease $50 per gross ton or more, with some saying prime could fall as much as $100 per ton. “The swiftness […] The post Scrap Prices Expected to Fall Further in July appeared first on Steel Market Update.

The rally was fun while it lasted, but new capacity delayed in large part because of Covid has arrived or soon will, popular analyst Timna Tanners said. And it will coincide with some demand weakness. The result: “steelmageddon” (aka “sheet storm”) might have been delayed. But it has finally arrived, she said. “Here we are with capacity starting […] The post Tanners: That Was Fun, But a “Sheet Storm” Is Brewing appeared first on Steel Market Update.

Schnitzer Steel Industries Inc. posted its best third-quarter earnings on record thanks to high prices and strong demand for both ferrous and nonferrous scrap. The Portland, Ore.-based scrap recycler and long steel producer recorded net income of $76 million in the third quarter of its fiscal 2022 ended May 31, 2022, doubling earnings of $38 […] The post Schnitzer: High Prices, Strong Demand Drives Best Q3 on Record appeared first on Steel Market Update.

Steel Market Update sources report ferrous scrap prices declined from May to June, dropping further from the record high prices seen in March and April. Prime grades declined between $55-75 per gross ton, with obsolete grades down $50-70 per ton. This puts the SMU price indices for scrap as follows: Busheling scrap at $600-670 per […] The post June Scrap Prices Fall $50-75/Ton, July Expectations Lower appeared first on Steel Market Update.

Ukraine has implemented an export ban on energy-related materials, but pig iron has been excluded from that ban. As of June 10, natural gas exports are prohibited by Ukraine’s Cabinet of Ministers, as are exports of anthracite coal including briquettes, pellets, and similar solid fuels derived from coal. Coking coal, however, has been excluded from […] The post Pig Iron Excluded from Ukraine’s Export Ban appeared first on Steel Market Update.

We have made little changes to our scrap prices forecast in this update. The seasonal fall in supply is starting now and prices are expected to find some support in the near term. In the USA, busheling prices is expected to remain at a discount over shredder until the end of 2023 Q2. Meanwhile, we […]

Steel prices eased each week in May, following increases in March and most of April. Hot rolled prices were $1,440 per ton ($72 per cwt) the first week of May, just $40 lower than the mid-April peak. Prices then slipped between $15 and $75 each of the following weeks, with the SMU index averaging $1,255 […] The post SMU’s May at a Glance appeared first on Steel Market Update.