Flat-rolled steel prices continue to fall, but the market participants I spoke to today were taking the news in stride. SMU’s average hot-rolled coil price now stands at $1,480 per ton ($74 per cwt), down $55 per ton from $1,535 per ton a week ago and down $475 per ton from a 2021 high – […] The post Final Thoughts appeared first on Steel Market Update.
Ferrous scrap prices in the Midwest saw a big $60 drop in early trading for January – a surprise in a month that historically sees scrap prices rise. While trading continues in other regions, sources tell Steel Market Update they expect the market to settle in the next few days at down $40-50/GT for obsolete […] The post Big Drop Expected for Ferrous Scrap Prices in January appeared first on Steel Market Update.
Steel Market Update is pleased to share this Premium content with Executive members. For information on upgrading to a Premium-level subscription, email Info@SteelMarketUpdate.com. Prices for three of the seven steelmaking raw materials tracked in this SMU analysis increased over the last 30 days, while three products decreased and one was unchanged. Through Dec. 21, iron ore prices […] The post Raw Materials Prices: Iron Ore, Coking Coal, Pig Iron, Scrap, Zinc appeared first on Steel Market Update.
First the takeaway: Don’t overthink it on the way down. Prices are falling, like it or not. The good thing, demand is still good – so don’t let falling prices ruin your holidays. Now, let’s overthink it a little. We’ve seen some chunky declines in recent weeks: SMU’s hot-rolled coil price fell $70 per ton […] The post Final Thoughts appeared first on Steel Market Update.
By CRU Senior Analyst Ryan McKinley, from CRU’s Steel Metallics Monitor , Dec. 8 The CRU metallics price indicator (CRUmpi) was little changed m/m in December at 401.6 after expectations of another price increase for metallics were dampened by weaker-than-expected demand. Supply is becoming seasonally scarcer in some markets. But, in our view, weakness in […] The post CRU: Global Metallics Prices Come Under Pressure as Demand Wanes appeared first on Steel Market Update.
I’m concerned we’ve all gotten a little too complacent with the idea that the price correction underway will continue to be gradual and that the new floor for hot rolled coil, whatever it is, will be four digits instead of the sub-$400-500 per ton floors that have characterized past downcycles. I’m not saying we’re headed […] The post Final Thoughts appeared first on Steel Market Update.
The following article on the hot rolled coil (HRC), scrap and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week: Hot Rolled Hot rolled futures sellers are betting that the price of HR will drop significantly in December based on the latest […] The post Hot Rolled Futures: Waiting for a Trend to Accelerate appeared first on Steel Market Update.
First, please note that due to the Thanksgiving holiday, the Steel Market Update newsletter will not be published on Thursday (which is Thanksgiving Day) and Sunday, Nov. 28. We will return to our normal publication schedule on Tuesday, Nov. 30. We want to wish everyone in the United States a happy, healthy Thanksgiving with family and […] The post Final Thoughts appeared first on Steel Market Update.
Prices for four of the seven steelmaking raw materials tracked in this SMU analysis declined over the last 30 days. Through Nov. 18, iron ore prices fell 27% from one month prior, aluminum prices are down 17%, zinc prices declined 15%, and coking coal prices decreased 4%. In that same time frame, shredded scrap prices […] The post Raw Materials Prices: Iron Ore, Coking Coal, Pig Iron, Scrap, Zinc appeared first on Steel Market Update.
With 2022 right around the corner, it’s time to reflect back on an unusual and eventful year for the steel industry. Following is Steel Market Update’s Top 10 News Events of 2021: #10 – Economy Rebounds from COVID: No one could have predicted when the virus crippled commerce in the spring of 2020 that the […] The post Final Thoughts appeared first on Steel Market Update.