The pig iron market has risen in recent months from the high $390s per metric ton (mt) last fall to $490/mt for Brazilian material and a bit more for Ukrainian product - for an overall average of $495/mt CFR. The post Miller on raw materials: A pig iron market update appeared first on Steel Market Update.
The state of the US scrap market is not very well understood, according to the dealer trade. It seems steelmakers in several regions are still looking to buy scrap, several sources told SMU. The post Miller on scrap: What’s next for February? appeared first on Steel Market Update.
This latest SMU steel market survey is a snapshot of a sheet market inflecting lower. A significant 43% of survey respondents said that the hot-rolled (HR) coil market has already peaked. Compare that to only 8% when we released our last steel market survey on Jan. 5. The post Final thoughts appeared first on Steel Market Update.
Scrap prices were flat-to-down in major regions on the back of additional supply and slow demand. Asian prices started 2024 on a better footing than those in Europe and the USA. Scrap prices typically rise in January due to tighter supply of both prime and obsolete grades of scrap. However, steady automotive production and a […]
Domestic scrap prices ended up down slightly after a roller coaster of trading in January, scrap sources told SMU. The post January scrap prices slip less than initial offers appeared first on Steel Market Update.
Metallics prices stalled in January on the back of additional supply and quiet demand. We expect prices to be supported in the USA, Europe, and the CIS in the short term, while Asian prices will be under pressure. In the markets outside Asia, scrap supply is expected to tighten as winter progresses. At the same […]
US scrap prices for January remained unsettled as of early Thursday afternoon, according to market sources. The post January scrap tags on wild ride in still unsettled market appeared first on Steel Market Update.
European scrap prices were stable to down m/m in January. Market participants slowly began to return to the market after the holidays, while sales stay slow. Scrap quotes currently range between €355 /t–€390 /t depending on the grade and country. European scrap market participants cited weak demand as buyers and sellers were gradually returning to […]
Pig iron prices rose m/m in all major regions aside from Europe on improved buying. Demand in the US remains robust while market participants report that availability of Brazilian material increased after tightening a month prior. Meanwhile, Ukrainian export capacity increased due to greater access to temporary sea corridors. In the CIS, pig iron prices […]
The CRUmpi declined by 1.1% m/m to 330.7 in January, compared to a 5.5% m/m increase in January 2023. Metallics prices typically rise in January due to tighter supply of both prime and obsolete grades of scrap. However, steady automotive production and a milder winter thus far in most major supply markets resulted in greater […]