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 moved $12-$27/ST higher on very light trading volumes this past week. In spite of the higher HR […] The post Thin Summer Markets in Hot Rolled Futures appeared first on Steel Market Update.
As expected, ferrous scrap prices traded sideways (July delivery to be the same as June) in most markets. Of course, having just said that, we do need to point out that the steel mills sourcing scrap from the East Coast had to pay $10 per gross ton more in order to keep scrap from moving […] The post Scrap Prices Sideways to Slightly Higher for July 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 If you compare prices between last week and this week, you will see the HR futures market has found support and […] The post 232 Investigation Report Keeps Steel and Scrap Markets Well Bid appeared first on Steel Market Update.
John Harris is the former director of raw materials for ArcelorMittal. Currently, he is a consultant and speaker on global metallics, and he will be a speaker at this year’s SMU Steel Summit Conference at the end of August. Mr. Harris and Philip Hoffman of Hoffman Iron & Steel have been conducting a friendly debate […] The post Chinese Scrap: Forewarned is Forearmed! appeared first on Steel Market Update.
The following article was sent to us by one of our steel and scrap trading sources located within China. He has been actively involved in the export of ferrous scrap out of China this year and understands where that market is headed right now (and why). Here is what he shared with Steel Market Update […] The post Chinese Scrap: Where There’s a Will There’s a Way appeared first on Steel Market Update.
On Thursday, Steel Market Update (SMU) published an article about the scrap markets entitled “Ferrous Scrap: Sideways in July?” In the article, John Harris, the former scrap buyer for ArcelorMittal and one of our speakers at this year’s SMU Steel Summit Conference, gave his opinions on the future issues associated with the industry. On Friday, […] The post Article Prompts Response on Chinese Scrap appeared first on Steel Market Update.
Steel Market Update (SMU) spoke with ferrous scrap executives about the outlook for the industry, not only looking at the upcoming negotiations with the steel mills for July shipments, but also the long-term view. The scrap industry is upbeat about its future as electric arc furnaces continue to take market share from integrated steel producers. […] The post Ferrous Scrap: Sideways in July? 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 Lack of certainty in forecasting future HR business continues to create excess price volatility. Longer lead times along with slightly lower […] The post Hot Rolled Futures: Consolidation of Rising Prices appeared first on Steel Market Update.
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.