Looking at the month-on-month changes in steelmaking raw materials costs, the prices of iron ore, pig iron and zinc have continued to experience noticeable gains, a pattern seen since the beginning of Q3 2020. As expected, scrap prices have bounced back after the downturn seen in the summer months, providing support to higher finished steel […] The post Steelmaking Raw Materials Price Update appeared first on Steel Market Update.
Following on a big jump in ferrous scrap in September, scrap prices are expected to move higher for obsolete grades and sideways or higher for prime grades in October, lending further support to rising finished steel prices. “Domestic steel capacity utilization and prices are rising, but the large price increase last month has not resulted […] The post Higher Scrap Prices Expected in October appeared first on Steel Market Update.
Steel Market Update is pleased to share this Premium content with Executive subscribers. For information on upgrading to a Premium-level subscription, email Info@SteelMarketUpdate.com. Steel Market Update performs this quarterly analysis using data from the Iron and Steel Statistics Bureau (ISSB) in the UK. We believe that to improve our understanding of the gyrations of the […] The post Global Scrap Trade Declined by 24.5 Percent in Q2 2020 appeared first on Steel Market Update.
Wholesalers who sell HVAC and galvanized steel products to the construction sector have been pleasantly surprised by the resilience of demand in a market dealing with the COVID pandemic. They have been downright shocked by the spike in galvanized steel prices, which have jumped by about $7/cwt or $140 per ton in just the past […] The post Jump in Galvanized Price Surprises HARDI Wholesalers appeared first on Steel Market Update.
Wholesalers who sell HVAC and galvanized steel products to the construction sector have been pleasantly surprised by the resilience of demand in a market dealing with the COVID pandemic. They have been downright shocked by the spike in galvanized steel prices, which have jumped by about $7/cwt or $140 per ton in just the past […] The post Jump in Galvanized Price Surprises HARDI Wholesalers appeared first on Steel Market Update.
By CRU Prices Analyst Estelle Tran, from CRU’s Global Steel Trade Service A combination of increased seasonal demand, low service center inventories, unplanned outages, spike in scrap prices and government restrictions on Brazilian slab imports have added fuel to the usual seasonal uptick and turned it into a surge. After reaching a bottom in mid-August, […] The post CRU: Steel Buyers Fret About Longevity of Rally as Prices Skyrocket appeared first on Steel Market Update.
Ferrous scrap prices exceeded even the bullish expectations heading into September as the market settled up $20-35/GT on prime scrap and up $30-55/GT on obsolescent grades, depending on the region of the country. Sources expect prices to move still higher in October, lending support to higher finished steel prices. Demand from U.S. mills picked up […] The post Ferrous Scrap Prices Jump in September appeared first on Steel Market Update.
By CRU Senior Analyst Ryan McKinley, from CRU’s Steel Metallics Monitor The CRU metallics price indicator (CRUmpi) rose by 9.9 percent m/m in September to 225.5. Rising steel demand internationally in combination with tighter markets has driven relatively large price increases in every market we assess. Market sentiment is bullish for October and, barring any […] The post CRU: Upswing in Metallics Prices Accelerates appeared first on Steel Market Update.
Among steelmaking raw materials, the prices of iron ore, pig iron and zinc have seen big gains in the past three months. Scrap prices have been challenged, but saw some improvement in August, notably in the coastal regions, and are expected to rise in September, lending support to higher finished steel prices. Table 1 summarizes […] The post Raw Materials Prices: Iron Ore, Coking Coal, Pig Iron, Scrap, Zinc appeared first on Steel Market Update.
Sentiment in the ferrous scrap markets is bullish leading into September, pointing to higher prices on both prime and obsolete scrap next month. That bodes well for the price increases on flat rolled and plate steel products announced by the mills this week. Domestic demand continues to improve as scrap yard inflows remain relatively weak. […] The post Scrap Market’s Bullish on September Prices appeared first on Steel Market Update.