Tag: Export

At the end of March the domestic steel mills cancelled any open portion of their ferrous scrap orders for March delivery with their scrap suppliers. This is always the first sign of an expectation of a drop in ferrous scrap prices once the negotiations begin in earnest for April delivery. Even with the tight supplies […] The post Steel Mills Cancel March Scrap Orders, Anticipate Lower Priced Scrap in April 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 With HR spot hovering around $650/ST,  HR futures prices declined in the latest week on modest trading volumes.  Conflicting sharp price […] The post Hot Rolled Futures Prices Declined This Week appeared first on Steel Market Update.

This is only our second ever write up of global scrap trade. In future we will report quarterly because we believe that to understand the gyrations of the domestic scrap market we should be aware of where the US stands as a global player. This data is not very current because some nations are slow […] The post Global Scrap Trade through Q4 2016 appeared first on Steel Market Update.

Flat rolled steel order books have been helping push ferrous scrap prices higher for March delivery to the domestic steel mills. Steelmakers have paid $50 to $80 per gross ton higher prices than February for prime grades such as busheling and bundles. Sheet mills pushed their buying prices in order to get the supply of […] The post Ferrous Scrap Prices Roar with Primes Up $50-$80 appeared first on Steel Market Update.

We are still early in the negotiation process for ferrous scrap pricing for the month of February. The expectation is for much higher than originally thought (sideways to +$30) a couple of weeks ago. SMU scrap sources are advising the Detroit market settled today at up $40 per gross ton on obsolete and shred grades […] The post Detroit Ferrous Scrap Said to be Up $40/$60 appeared first on Steel Market Update.

The rumors about March ferrous scrap prices have been flying ever since prices rebounded early in February from the initial down $10-$30 per gross ton we saw in the early negotiations. As the month of February continued scrap prices rebounded and, in some cases, returned to levels seen in January. As we prepared for March […] The post Ferrous Scrap Prices to Jump by How Much & Why are the Questions appeared first on Steel Market Update.

The following article is the opinion of John Packard, Publisher, Steel Market Update. I haven’t gone back and reviewed the records as to how many times flat rolled steel prices moved higher after a quick run up followed by a stable to slightly down market for a couple of weeks. Probably less than the fingers […] The post Flat Rolled Price Increases Coming? 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 HR futures consolidate in quiet trading week as the market absorbs the anticipated first decline in the HR index since the […] The post Shorter Lead Times, Auto Inventories Affecting Futures Markets appeared first on Steel Market Update.

The ferrous scrap markets have been all about doom and gloom up until the past couple of days. Obsolete grade and shredded scrap were reported trading down $25 per ton in Brazil. Prime grades were down $10 per ton. Our sources were telling us export prices were down and the exporters off the east coast […] The post Surprise! Scrap Prices Firming as February Negotiations Continue appeared first on Steel Market Update.

Over the weekend, we were able to discuss the status of ferrous steel scrap negotiations for February with a couple of scrap dealers as well as one individual associated with the pig iron markets. The Detroit areas mills were the first to settle and the decline in shred and obsolete grades was not as dramatic […] The post Early Scrap Down $25-$40 on Shred/Obsolete and $10-$35 on Primes appeared first on Steel Market Update.