Tag: Export

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 In spite of a large drop in the HR index this past week (sub $950/ST), the forward curve in HR […] The post Hot Rolled Futures: Strong Near-Term Price Reversal in HR; How Long Will it Last? appeared first on Steel Market Update.

U.S. Steel Corp. is investing $60 million at Gary Works to give the Indiana mill the capability to produce up to 500,000 tons of pig iron annually and provide a critical raw material for the steelmaker’s electric arc furnaces. Once complete in the first half of 2023, pig iron production at Gary will provide nearly […] The post U.S. Steel to Add 500k tpy of Pig Iron Production at Gary Works appeared first on Steel Market Update.

Editor’s note: SMU contributor Bryan Tice is a partner at Metal Edge Partners, a firm engaged in Risk Management and Strategic Advisory. In this role, he and the firm design and execute risk management strategies for clients along with providing process and analytical support. Before joining Metal Edge Partners, Bryan held a variety of commercial […] The post Hot Rolled Steel Futures: The Big Ripper appeared first on Steel Market Update.

You don’t need SMU pontificating about how the Russia-Ukraine conflict marks the end of the post-WWII order. Suffice it to say the world we woke up to today is vastly different from the one we reported on in our last edition. We’re also getting used to thinking about things we haven’t had to think about […] The post Final Thoughts appeared first on Steel Market Update.

Steel Market Update sources expect ferrous scrap prices to rise by at least $30/GT, and probably more, in most regions next month, following substantial declines in January and February. On the metallics front, mills around the world are watching anxiously to see how the conflict in Ukraine will impact pig iron supplies and prices. “The […] The post Scrap Prices Poised to Jump in March; Pig Iron a Casualty of War? appeared first on Steel Market Update.

The Tampa Steel Conference has wrapped up, and I thank all of you who attended and who took the time to catch up with me on stage or along the sidelines. Below are five themes that I took away from the event. If I were to sum it up in a sentence, it’s this: Steel […] The post Final Thoughts appeared first on Steel Market Update.

Ferrous scrap has been described as “the new precious metal,” as mills all over the world invest in scrap-fed electric arc furnaces as a means of lowering harmful greenhouse gas emissions. Indeed, prime scrap may prove to be even more rare and prized than most realize. In the United States alone, producers will add 5.3 […] The post Analysts: New EAF Capacity Will Make Scrap “a Precious Metal” 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 Will the velocity of the down move in hot rolled prices be maintained as HR price spreads to global prices […] The post Hot Rolled Futures: Declines Pick Up Steam appeared first on Steel Market Update.

Ferrous scrap prices declined again in February after an unexpectedly big drop in January. Prime scrap traded down $35/GT in most regions, while obsolete grades traded sideways, sources tell Steel Market Update.  That puts the February price for busheling at around $525-535/GT, shred at $470-480/GT and HMS at $430-440/GT. “Tepid demand is being offset by […] The post Prime Scrap Price Drops Again in February, Bottom in Sight? appeared first on Steel Market Update.

Were it not for persistently strong steel demand, the plunging steel prices would be an unmitigated disaster. About 70% of the service center and manufacturing execs responding to SMU’s survey a week ago described demand for their products as stable. Another 20% even said they see demand improving. Just 10% have registered declines in demand […] The post Final Thoughts appeared first on Steel Market Update.