Steel Market Update’s scrap sources expect ferrous scrap prices to drop by at least $10-$20 per ton in May, and possibly as much as $30-$40 per ton, as spring weather increases the scrap flows and boosts supply. Adding to the downward pressure on prices, they report, is weakness in the global market. One dealer in […] The post Ferrous Scrap Prices Expected to Decline in May appeared first on Steel Market Update.
Steel Dynamics reported a very strong first quarter with record shipments in the flat rolled division and a 94 percent utilization rate, well above the domestic industry average of 76 percent. Demand and product pricing improved across SDI’s entire steel platform. Net sales totaled $2.6 billion for the quarter and net income was $228 million. […] The post SDI Seeks “Prudence” in Section 232 Tariffs appeared first on Steel Market Update.
Steel Market Update’s sources report that ferrous scrap prices have increased by $5 to $15 per gross ton in April, depending on the type and region. Some predict scrap prices are likely to decline in May. Strong domestic demand is the key driver of rising scrap prices, said one dealer in the North. “With few […] The post Ferrous Scrap Prices Rise in April, to Decline in May? appeared first on Steel Market Update.
China will control the global ferrous scrap market, it’s just a matter of time, says scrap expert John Harris of Aaristic Services, Inc. China produces about half the world’s steel every year and has accumulated a scrap reservoir more than sufficient to meet its domestic steelmaking needs. There is little reason for China to import […] The post China’s Poised to Disrupt the Ferrous Scrap Market appeared first on Steel Market Update.
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: Announced steel tariffs provide less uncertainty and give the markets an opportunity to retrace. Steel March has proven to be a volatile […] The post Hot Rolled Steel and Scrap Futures: Opportunity to Retrace appeared first on Steel Market Update.
Ferrous scrap prices are expected to rise $20 to $30 per gross ton in April, and possibly more, according to Steel Market Update sources. All grades are expected to see increases, and with relative parity across the country. One dealer told SMU there is pressure on obsolete grades as the long winter has impeded the […] The post Scrap Prices Expected to Jump in April appeared first on Steel Market Update.
The world’s scrap trade continues to expand as the growth of global GDP accelerates. Steel Market Update performs this analysis quarterly to help readers understand the gyrations of the global scrap market. This data is a quarter in arrears because some nations are slow to report. In the 12 months of 2017, U.S. scrap exports increased […] The post Scrap Trade: Expanding with Global GDP appeared first on Steel Market Update.
Stronger domestic demand for steel products, combined with feedstock and transportation problems, sent ferrous scrap prices on divergent paths in various parts of the country this month, reports scrap guru Mike Marley of World Steel Exchange Marketing. Tight supplies of key obsolete grades produced pricing moves ranging from unchanged for industrial steel grades in several […] The post Marley: Several Factors Reshaping the Scrap Market appeared first on Steel Market Update.
Ferrous scrap prices have risen at a greater rate than expected by sources quoted in Steel Market Update last month. Scrap guru Mike Marley of World Steel Exchange Marketing reports that recent price increases have varied by region to region, and even within a few regions. In the North, shredded and cut grades are up […] The post Ferrous Scrap Prices on the Upswing appeared first on Steel Market Update.
As much as the mills are gloating about President Trump’s decision to lay a 25 percent tariff on foreign steel, remember one thing – not one of them asked for it. When it was handed to them, they took it. They did not fight to protect those products that they don’t like to make (or […] The post Final Thoughts appeared first on Steel Market Update.