Final Scrap Pricing Settlement Numbers Still in Negotiation Scrap prices continued their weakening trend – especially on shredded with cut grades such as #1 HMS and prime grades such as #1 busheling are moving sideways to down $10 depending on the geographical location and the status of the mills in each area. We heard from […] The post Scrap Prices Weakening as Week Progresses appeared first on Steel Market Update.
The Far East and Southeast Asian ferrous scrap markets have been on the uptrend since the end of July. Since mid-July, scrap prices have risen approximately $20-$25/metric ton. This coincides with Tokyo Steel in Japan increasing scrap prices twice by approximately $24/MT. The increase in scrap prices were reactionary as steel stockists ramped purchases from […] The post Asian Scrap Markets: Have Prices Hit a Plateau? appeared first on Steel Market Update.
Steel Market Update sources are forecasting slightly lower shredded scrap prices in the Midwest and Ohio Valley as we prepare to move into September. Prime grades (such as #1 busheling) are forecast to be sideways to down slightly and cut grades are forecast to move sideways across most areas of the country. This is what […] The post Scrap Prices for September Forecast Sideways to Slightly Lower appeared first on Steel Market Update.
U.S. Midwest #1 Busheling Ferrous Scrap (AMM) Typically Quiet Mid-Month Market While the HRC futures market is experiencing a summer lull, the AMM Busheling contract has been virtually non-existent the past few weeks. After the physical market for busheling priced sideways this month the futures market has not reacted. It seems that the usual pattern […] The post Iron Ore & Scrap Futures appeared first on Steel Market Update.
Written by: Brett Linton June ferrous scrap exports totaled 1,405,041 metric tons (1,548,791 net tons) with Turkey, Taiwan, South Korea, Vietnam, and Egypt being the top five countries where scrap was sent. Exports to most of the big players in the market, with the exception of Taiwan, South Korea and Vietnam, dropped dramatically from the […] The post June Ferrous Scrap Exports Down Across the Board appeared first on Steel Market Update.
By John Packard On Saturday, Upstate Shredding held an open house for their new Port of Albany, New York recycling and shipping facility. What makes this one special is that the scrap operation sits on water which will provide the company with access to barge shipments to customers such as Nucor as well as ocean […] The post Upstate Shredding Port of Albany Facility Takes Aim at Export appeared first on Steel Market Update.
One of our scrap sources – a Northeast based shredding company – reported sales to one of the mill scrap brokerage companies with two sales on shredded scrap. One 35,000 ton lot at down $20 per gross ton shipping by rail, a second lot of shred sold down $15 per gross ton to ship by […] The post U.S. Scrap Prices “Sloppy” as Mills Buy at Lower Levels appeared first on Steel Market Update.
U.S. Midwest #1 Busheling Ferrous Scrap (AMM) Prices Drop as an April Pullback Looks Likely After prices for March settled up $40+ the market for April already is starting to shape up significantly weaker. Dealers succeeded in pushing up prices last month but currently it looks like April will be down at least $20 t […] The post U.S. Ferrous Scrap, Iron Ore & Billet Futures appeared first on Steel Market Update.
The U.S. Department of Commerce released ferrous scrap export data a little earlier this week. Total exports of scrap in January 2013 were 1,532,498 metric tons (1,689,288 net tons) to all countries. This is a little less than December shipments but above the January 2012 total. Below is a chart of the top 10 countries […] The post January Ferrous Scrap Exports appeared first on Steel Market Update.
The following article is from one of our close trading sources located in Asia. This person is actively trading iron ore and ferrous scrap into China and is also trading steel out of China into Europe. He is able to provide us a view of the Asian market not normally seen by outsiders. Here is […] The post From the Inside: China Iron Ore and Steel Export Update appeared first on Steel Market Update.