Tag: Export

The following article on the hot rolled coil (HRC) steel and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week: Steel HR futures prices have retraced lower since the beginning of the year in spite of the mill price increases. Tepid demand/extra […] The post Hot Rolled Futures: Uncertainty Leads to Lower HR Futures Prices, Flat Forward Curves appeared first on Steel Market Update.

Written by Senior Analyst Ryan McKinley. More in-depth regional analysis found in CRU’s Metallics Monitor. The CRU metallics price indicator (CRUmpi) fell by 8.9 percent m/m to 203.7 (see chart) following price falls in nearly every market. Supply outpaced demand due to mild winter conditions in much of the northern hemisphere. Key exceptions were Russian scrap and ore-based […] The post CRU: Mild Winter Creates Scrap Supply Surplus Amid Covid-19 Outbreak appeared first on Steel Market Update.

Ferrous scrap prices for February are down around $20-30/GT for obsolete grades and $10-20/GT for prime grades, report Steel Market Update sources, adding to the downward pressure already being felt on finished steel prices. “This price trend is in line with the 10-year average price movement for February,” said CRU Senior Analyst Ryan McKinley. “Buying […] The post Ferrous Scrap Prices Move Lower in February appeared first on Steel Market Update.

John Packard is traveling… Steel Market Update changed its Price Momentum Indicator from Higher to Neutral today. Not that steel prices couldn’t start inching upward once again in the coming weeks. It’s just that the direction is unclear and we need to wait and watch for the next trend to reveal itself. Lead times aren’t […] The post Final Thoughts appeared first on Steel Market Update.

Looking ahead to February, Steel Market Update sources predict ferrous scrap prices will decline by $10-20/GT, which has implications for finished steel prices next month. February is the shortest month of the year, so buying programs will be somewhat weaker, said CRU Senior Analyst Ryan McKinley. “It looks like the February scrap market will trade […] The post Ferrous Scrap Prices Expected to Decline in February appeared first on Steel Market Update.

Ferrous scrap prices are up another $20-30/GT in January, on top of similar increases the prior two months, lending support to the finished steel price increases announced this week. Sources put January scrap prices around the following: Shred, $315-330; HMS, $270-275; Bush, $320; and Plate, $285- $310 per ton. Scrap prices typically rise in January […] The post Ferrous Scrap Prices Rise Another $20-30 Per Ton in January 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 5.9 percent m/m to 223.5 (see chart) following price increases in nearly every market, the highest level since August 2019. Solid scrap demand has offset better than seasonally typical supply due to mild winter weather in the Northern Hemisphere. […] The post CRU: Scrap Demand Remains Strong During Mild Winter appeared first on Steel Market Update.

Commercial Metals Company is looking forward to a steady construction market in 2020 for its merchant bar and rebar products. “We are positioned to continue benefiting from the positive trends in our core markets and remain optimistic about the construction market, as many of the macro indicators we monitor point to resilience ahead,” said President […] The post CMC Optimistic Heading into 2020 appeared first on Steel Market Update.

In Q3 2019, Vietnam was second only to Turkey as a buyer of scrap on the global market. This Steel Market Update quarterly analysis uses data from the Iron and Steel Statistics Bureau (ISSB) in the UK. We believe that to improve our understanding of the gyrations of the domestic scrap market, we should be […] The post Global Scrap Market: Vietnam Now Major Scrap Buyer appeared first on Steel Market Update.

After declining for much of 2019, steel prices have moved up substantially in the last two months. Will the trend continue into 2020? Flat rolled steel producers raised prices three times during October and November for a total of $110 per ton. (Editor’s note: ArcelorMittal USA announced an additional $40 flat rolled increase on Friday. […] The post Will Steel Prices Keep Trending Up Into 2020? appeared first on Steel Market Update.