Scrap prices in Detroit, Carolinas and Alabama have settled lower for March delivery according to SMU sources. Detroit ferrous scrap prices were reported to be down $20 per gross ton while the Carolinas were down $15-$20 and Alabama down $15 per gross ton. The main issue continues to be the lack of a firm scrap […] The post Final Thoughts appeared first on Steel Market Update.
A week ago the predictions regarding March scrap settlement prices were for prices to be down $20-$30 per gross ton (or more). However, as Steel Market Update got deeper into understanding the market we found, due to weather and other issues, flows into the scrap yards have been slow which has caused the scrap suppliers […] The post Weak Scrap Flows May Temper Any Drop in Scrap Pricing appeared first on Steel Market Update.
A week ago the predictions regarding March scrap settlement prices were for prices to be down $20-$30 per gross ton (or more). However, as Steel Market Update got deeper into understanding the market we found, due to weather and other issues, flows into the scrap yards have been slow which has caused the scrap suppliers […] The post Weak Scrap Flows May Temper Any Drop in Scrap Pricing appeared first on Steel Market Update.
The hot rolled coil futures market took a leg down this week as offers down the curve became more aggressive. After weeks and months of a fairly static forward curve, this renewed downward pressure of the past few days has shaken up the market. The Q2 traded today as low as $623, the Q3-4 at […] The post Hot Rolled Futures Take a Leg Down… appeared first on Steel Market Update.
Andre Marshall of Crunch Risk, LLC shared the following information about iron ore and busheling futures trading for the past week. Iron Ore: As always traders make a big deal about the Chinese post New Year’s holiday making a big buying push upon their return, but it appears whatever buying has been done hasn’t been […] The post Iron Ore and Busheling Scrap Futures appeared first on Steel Market Update.
Scrap prices for February deliveries to the domestic mills have settled in most areas of the country. In Chicago and the Upper Midwest we are seeing prices down from the previous month as #1 HMS (heavy melt scrap) is at $390 per gross ton, shredded scrap ranges from $400-$410 per gross ton (average $405) and […] The post Shredded & Busheling Scrap Settle Close to Par with One Another appeared first on Steel Market Update.
Steel analyst Charles Bradford of Bradford Research spoke at the Port of Tampa Steel Conference this past week. He presented a relatively upbeat analysis of the domestic steel industry. He began by referring to a recent McKinsey and Company report which basically said, “The steel industry has had it, it’s over. The industry doesn’t make […] The post Bradford Warns of “Black Swan” Lurking appeared first on Steel Market Update.
Transactions in the ferrous scrap market are beginning to become clearer and what scrap dealers are seeing is not making them happy. Prices in the Detroit market, which tends to be one of the first markets to settle, saw an across the board decrease of $30 per ton on all grades. Busheling and shredded prices […] The post Dealers Surprised By Degree of Weakness in Scrap Prices appeared first on Steel Market Update.
The busheling market started to take shape this week as buyers and dealers came into the market, with early indications to be in the mills favor. Initial reports are for scrap in the Midwest to be down $30-40 / ton depending on grade and location. It seems that weather constraints have had a more negative […] The post U.S. Midwest #1 Busheling Ferrous Scrap Prices Take a Leg Down appeared first on Steel Market Update.
January 24th 2014. The Turkish Lira is in freefall. What does this mean for the US ferrous scrap industry? This is a hard question to answer because we don’t know what we don’t know. What we do know is that the Turkish Lira has declined by 20.1% against the US $ in the last 12 […] The post What Does Fall of Turkish Lira Mean for U.S. Scrap Industry? appeared first on Steel Market Update.