This is only the third time we have produced a report on global scrap trade. In the future, we will report quarterly because to understand the gyrations of the domestic scrap market we should be aware of where the U.S. stands as a global player. This data is not very current as some nations are […] The post The Gyrations of Global Scrap Trade appeared first on Steel Market Update.
Ferrous scrap pricing has solidified in most regions of the United States east of the Rocky Mountains. Scrap prices traded sideways (remained the same as last month) on prime grades such as bundles and busheling. Otherwise, shredded and obsolete grades saw declines of $10 to $15 per gross ton, according to Steel Market Update (SMU) […] The post Ferrous Scrap Prices Sideways to Down $10 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 we had a big reversal/correction week on week as HR futures curve prices traded higher as buyers reached for […] The post Futures: HR Steel and Prime Scrap Buck the Downward Price Trend in Metals appeared first on Steel Market Update.
With the shuttering of up to 150 million tons of induction and EAF steelmaking capacity in China reducing its consumption of ferrous scrap, the Asian giant has actually begun exporting scrap material. Steel Market Update (SMU) has been following the progress of the Chinese as they attempt to enter the ferrous scrap export markets. They […] The post SMU Update on China’s Move to Export Ferrous Scrap 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 Flattening of HR futures curve due to decline in nearby futures prices generates heavy trading. It has been an active week […] The post Hot Rolled Futures Flattening appeared first on Steel Market Update.
Steel Market Update has begun to ask our scrap sources to provide some color as to what we can expect. Early indications from our sources are to expect ferrous scrap prices to trade “sideways” (unchanged) from the levels reported at the beginning of May. One of our sources told us, “The June market looks to […] The post June Ferrous Scrap Pricing Expected to Move Sideways appeared first on Steel Market Update.
Steel Market Update (SMU) first reported that the Chinese were exporting ferrous scrap in an article on April 19, 2017. With the forced shut-downs of induction and electric arc furnaces by the Chinese equivalent of our EPA, the net result is that there is an abundance of ferrous scrap needing a home. Some of that […] The post Chinese Ferrous Scrap Slowly Making its Way to Market appeared first on Steel Market Update.
It is the first week of May and the negotiations between the long and flat rolled steel mills have been in full swing all week. By late today (Thursday) word of how the scrap dealers had fared has been coming into our offices. The first region to settle was Detroit which was up $10 on […] The post Ferrous Scrap Pricing for May “Strong Sideways” to Slightly Higher appeared first on Steel Market Update.
Ferrous scrap prices settled in Detroit with prime grades (bundles/busheling) settling at $360 per gross ton. At the same time there is Chinese auto bundles for sale at very low prices FOB China. Chinese scrap exports are new for the Chinese and there are issues that need to be overcome before they become major suppliers […] The post How Soon Before Chinese Scrap Makes its Way to USA? appeared first on Steel Market Update.
SMU sources are expecting scrap prices to remain somewhat range-bound as the scrap dealers begin negotiations with the domestic steel mills for the month of May. Most dealers are forecasting May settlement prices to be within $10 per ton of what we saw in April and this can vary from region to region. We understand […] The post Ferrous Scrap Prices for May Expected to Trade Sideways appeared first on Steel Market Update.