The following article on the hot rolled coil (HRC) steel and financial futures markets was written by Troy Rossi of Crunch Risk LLC. Here is how Troy saw trading over the past week: Steel This week, HR futures markets continued to see price consolidation along the curve as HR futures prices have found some support […] The post Hot Rolled Futures: Price Consolidation appeared first on Steel Market Update.
SMU scrap sources advised us early this morning of an export sale of an 80/20 mix of ferrous scrap bound for Turkey. Our sources reported the sale price at $350 per metric ton delivered Turkey. The sale price is up approximately $50 per metric ton since early July and $20 per metric ton from last […] The post Ferrous Scrap Export Prices Surge/August Settlement Prices appeared first on Steel Market Update.
Ferrous scrap prices are up about $20 per ton across the board on strong domestic demand and scrap export markets “that are on fire,” say SMU’s scrap sources. One scrap metal processor with locations across the country reports HMS at $300, shred at $315 and busheling at $390 per gross ton for August delivery. Export […] The post Scrap Prices Jump on Strong Export Demand appeared first on Steel Market Update.
I adjusted our Price Momentum Indicator from Higher to Neutral. I did this after spending time analyzing the results from last week’s flat rolled steel market trends survey, looking at what was being recorded by some of the other indexes, noting that Congress and the president are on holiday for a few weeks and there […] The post Final Thoughts 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: Steel This week HR futures markets experienced continued price consolidation along the curve as HR futures prices continued to retrace lower from […] The post Hot Rolled Futures: Continued Price Consolidation appeared first on Steel Market Update.
Ferrous scrap prices are poised to rise in the NAFTA region for several reasons, says John Harris, CEO of Aaristic Services, Inc., and former director of Raw Materials for ArcelorMittal. Harris is part of a panel that will take a deep dive on commodities during the Steel Market Update Steel Summit Conference Aug. 28-30 in […] The post SMU Panelist: Scrap Prices Poised to Rise appeared first on Steel Market Update.
On Monday, Aug. 28, the steel event of the year will kick off in Atlanta. With four weeks to go and 560 steel and manufacturing executives already registered, expectations are for this conference to truly be the most dynamic steel conference in North America for 2017. Welcome to the 7th Steel Market Update (SMU) Steel […] The post SMU Steel Summit Conference 2017 – What the Fuss is All About appeared first on Steel Market Update.
On Monday, August 28, the steel event of the year will kick off in Atlanta. With less than four weeks to go and 575 steel and manufacturing executives already registered, expectations are for this conference to truly be the most dynamic steel conference in North America for 2017. Welcome to the Steel Market Update Steel […] The post SMU Steel Summit Conference 2017 – What the Fuss is All About appeared first on Steel Market Update.
Steel Market Update (SMU) asked ferrous scrap guru Mike Marley of World Steel Dynamics how he is seeing ferrous scrap price negotiations as we enter the month of August. He reported what we have heard from our scrap sources: the market should expect higher scrap pricing in the coming month. Here’s what Marley told us […] The post More Color on Ferrous Scrap Negotiations for August appeared first on Steel Market Update.
Steel Market Update (SMU) has been in contact with our scrap sources who are advising us ferrous scrap prices will move higher as we get into August negotiations with the steel mills. We have been hearing scrap will move by a minimum of $15 per gross to $25 per gross ton. “Ferrous grades will certainly […] The post August Scrap Prices Poised to Move Higher appeared first on Steel Market Update.