Tag: Export

On Friday and Saturday of this past week, Steel Market Update attended the Association of Steel Distributors spring meeting. The following are some of the notes made during the presentations and during discussions with ASD members. Dr. Chris Kuehl of Armada Corporate Intelligence reported that he is “a little optimistic” when it comes to the […] The post Notes From Association of Steel Distributor Spring Meeting appeared first on Steel Market Update.

Supply of ferrous scrap continues to be an issue for the domestic steel mills. On Friday of this past week scrap prices settled in the Detroit market up $50 per gross ton. However, many of our scrap sources are advising that the rest of the country is in limbo as many dealers think the market […] The post Scrap Dealers Holding Back as Market May be Stronger than +$50 appeared first on Steel Market Update.

Steel Market Update ferrous scrap sources are advising us that scrap prices are poised to move $30 to $50 per gross ton higher for April deliveries than what we saw negotiated at the beginning of March. The issue is supply. The domestic sheet mills are having issues finding all of the tonnage they need and […] The post Ferrous Scrap Prices Poised to Move Up $30-$50 appeared first on Steel Market Update.

January ferrous scrap exports totaled 607,272 net tons (550,909 metric tons) with Turkey, India, Mexico, Peru, and Taiwan being the top five countries receiving scrap from the United States. These five countries accounted for 67.3 percent of all scrap exports. Total January ferrous scrap exports were 53.9 percent lower than previous month and 47.1 percent […] The post January Ferrous Scrap Exports Cut in Half appeared first on Steel Market Update.

World Steel Exchange Marketing (WSEM) announced that the US Shredded Steel Scrap TSI Index will begin futures trading on the Nasdaq Commodities Exchange (Stockholm) as of March 29, 2016. The 20-gross-ton USA Midwest shredded steel contract will be listed, and quoted, for the current month and each of the next 11 months. The contract will […] The post US Shredded Steel Scrap Futures Trading Coming to Nasdaq appeared first on Steel Market Update.

It was only a few weeks ago that many within the ferrous scrap community felt when the negotiations were over for the month of March and the smoke cleared scrap prices would be essentially unchanged from February. That was then, this is now. One of the larger players in the market told us earlier today, […] The post Scrap Prices Moving Higher appeared first on Steel Market Update.

Steel Market Update received the following information about the ferrous scrap markets in Asia and Turkey from Damon Sun of Daido International: There has been aggressive movements in the ferrous scrap markets in Asia and Turkey in recent days. Off the East Coast, Turkish scrap prices are up $12-$15/mt and on the Asian region side, […] The post Asian & Turkey Ferrous Scrap Prices Have Firmed Due to Demand appeared first on Steel Market Update.

Steel Market Update has been speaking with various scrap sources to see what the market trend looks like as we head into March ferrous scrap pricing negotiations. Virtually all dealers are of the opinion that the market looks to be sideways (same pricing as February) with maybe a little “lean” toward the upside. The dealers […] The post Expectation is for Ferrous Scrap Prices to Move Sideways in March appeared first on Steel Market Update.

The following article on the hot rolled coil (HRC), busheling scrap (BUS), and financial futures markets was written by Andre Marshall, CEO of Crunch Risk LLC and our Managing Price Risk I & II instructor. Assisting Andre with tonight’s article is Jack Marshall also associated with CrunchRisk. Here is how Andre and Jack saw trading […] The post Hot Rolled Futures: Pit in Your Stomach appeared first on Steel Market Update.

In the twelve eleven months of 2015 bulk scrap exports were 12,955,000 metric tonnes, down by 9.7 percent from 2014 (14,280,000 net tons). The tonnages shown in Figure 1 are based on three month moving averages (3MMA) for 2015 and on the annual monthly average for previous years. The graph shows that exports declined for three […] The post Ferrous Scrap Exports through December Down 9.7% YOY appeared first on Steel Market Update.