The ministry of economic development and digitalization in Moldova is considering establishing a state monopoly on delivery of ferrous and non-ferrous scrap metal. The new setup would apply to what the ministry termed as economic agents in the country who do not have fiscal relations with the budgetary system. Dubbed a fiscal monopoly, the ministry […]
Ukraine’s metal sector association Ukrmetallurgprom has reiterated its request for a temporary prohibition on foreign shipments of scrap steel after the latest customs service data showed exports of 101,615 t between January and July were 3.5 times higher than the year-ago period. They were valued at $29.8 M (€27.2 M), up 2.4 times. But the […]
The summer cycle has brought more focus around the uncertainty of where HR prices are headed. Spot indexes continue to bleed lower despite price hikes from sheet mills. Market talk is of still lower prices as the gap grows between the slow-moving index versus expectations for HR future prices declines. (The index likely reflects smaller, […] The post HRC Futures: Supply/Demand Uncertainty Pushes HR Forward Curve Lower and Flatter appeared first on Steel Market Update.
Steel Manufacturers Association (SMA) president Philip K. Bell will be joining as a panelist and presenter at the 2023 SMU Steel Summit Conference Aug. 21-23 in Atlanta. “I’ve been attending Steel Summit for over a decade, and each year it gets bigger and better,” Bell said in a sitdown with SMU. This year he will […] The post Steel Summit 2023 Speaker Focus: Philip K. Bell appeared first on Steel Market Update.
West Virginia’s environmental protection department has given longs producer Commercial Metals Company (CMC) permission to begin construction of a micro-mill near Martinsburg, Berkley County. “With the permit in hand, and land purchase completed, we can now begin construction to achieve our targeted commissioning date in calendar 2025,” said CEO and chairwoman Barbara Smith. The plant […]
On Steel Market Update’s most recent Community Chat, we caught up with Timna Tanners, managing director of Wolfe Research, to hear her latest take on the steel market. Tanners chatted with SMU managing editor Michael Cowden about the myth of mill discipline within the sheet market. The market isn’t much more disciplined than a few […] The post SMU Community Chat: Tanners Talks the ‘Myth’ of Mill Discipline appeared first on Steel Market Update.
Join us for SMU’s next Community Chat webinar with Wolfe Research managing director Timna Tanners. The webinar will be held on Wednesday, July 12, at 11 am ET. It’s free for all to attend. A recording will be available to SMU members. You can register here. We’ll talk about what Tanners describes as “the myth […] The post Register Now for July 12 Community Chat With Timna Tanners! appeared first on Steel Market Update.
Foreign shipments of ferrous scrap from Ukraine increased 3.1 times in a rising trend to 77,452 t year-on-year in the first five months of 2023, according to customs data. Exports were 8,280 t in January, 16,500 t in February, 15,450 t in March, 16,190 t in April and 21,003 t in May. Most material went […]
Editor’s note: Steel Market Update is pleased to share this Premium content with Executive members. For information on how to upgrade to a Premium-level subscription, contact Lindsey Fox at lindsey@steelmarketupdate.com. Prices of steelmaking raw materials have been largely on the decline over the last 30 days, as they were the month prior, the exception being pig […] The post Steelmaking Raw Materials Update: Price Declines Continue appeared first on Steel Market Update.
In the race to lower emissions, both steel companies and countries are promoting greater use of domestic scrap, but this approach has two key weaknesses. Firstly, using more steel scrap in one country will have no impact on global carbon emissions – it will simply see scrap use move from one country to another. Secondly, […] The post CRU: Copper in Steel Scrap Will Constrain Domestic Use appeared first on Steel Market Update.