Steel Market Update sources disagree on whether ferrous scrap prices will see a small decline or move sideways in February. But the market remains unusual for this time of year when scrap prices normally increase as the mills restock ahead of new-year steel demand. Scrap prices surprised the market with a $30-40 per ton decrease […] The post Ferrous Scrap Prices: Sideways in February? appeared first on Steel Market Update.
There has been a downward reversal in raw materials prices in the last month. Table 1 summarizes the price changes through January of the five materials considered in this analysis. It reports the month/month, 3 months/3 months and 12 months/12 months changes and tells us that price movements have been negative for all materials except […] The post Raw Material Prices: Iron Ore, Coking Coal, Pig Iron, Scrap and Zinc appeared first on Steel Market Update.
Steel Dynamics is excited about its recently announced plans for a new steel mill in the Southwest. After an outstanding year, breaking records for shipments, sales, net income and cash flow, CEO Mark Millett is looking forward to filling a steel void in the southwestern U.S. and Mexico. Steel Dynamics hopes to announce a site […] The post Steel Dynamics Posts Record Year appeared first on Steel Market Update.
By Stephen Miller Pig iron prices have declined by about $35/MT for sales concluded last week for delivery to the U.S. The latest sales are in the vicinity of $350/MT CFR. This has been a long time coming since the last confirmed cargoes were booked at $385/MT in November. Prior to November, many market participants thought […] The post Pig Iron Prices: ‘Nowhere to Go But Down’ appeared first on Steel Market Update.
If the prevailing view in the market proves correct, steel mills will announce a price increase soon—but it won’t stick. Two out of three steel executives responding to Steel Market Update’s market trends questionnaire this past week believe the mills will announce an increase in flat rolled prices by the end of January. But given […] The post Steel Market Trends: Price Hike Coming? appeared first on Steel Market Update.
Perhaps it’s because the year started out with so much promise that the end of 2018 seemed so uninspiring. On balance, most in the steel business would call 2018 a good year, some even a great year. But few look forward to 2019 with the same optimism and confidence they felt a year ago at […] The post 2018 Year in Review; What Does It Mean for 2019? appeared first on Steel Market Update.
Editor’s note: Steel Market Update is sharing the following Premium content with all its readers in this issue. For more information on how to upgrade to a Premium-level subscription, email info@SteelMarketUpdate.com. Table 1 summarizes the price changes through December of the five materials considered in this report. It reports the month/month, 3 months/3 months and […] The post Raw Material Prices: Iron Ore, Coking Coal, Pig Iron, Scrap and Zinc appeared first on Steel Market Update.
By CRU Senior Editor Ryan McKinley, from CRU’s Steelmaking Raw Materials Monitor Upward momentum for the CRU metallics price indicator (CRUmpi) slowed in July, but still rose by 2.8% m/m to 413.5. Metallics price increases were strongest in Europe amid high steel demand, with both HBI and scrap prices there rising from June levels. Scrap […] The post CRU: Metallics Markets Begin Cooling on Higher Supply, Policy Changes appeared first on Steel Market Update.
Ferrous scrap prices declined by $30-40 per ton in January—a month that typically sees prices rebound. Some scrap experts predict the downtrend may continue. How low prices could go is a source of some disagreement. January scrap settled at the following numbers in various regions, report SMU sources: Midwest/Ohio Valley: Shred – $330-335/GT; HMS – […] The post Will Ferrous Scrap Prices Continue to Decline? appeared first on Steel Market Update.
Editor’s note: The following analysis of the U.S. rod and bar market was contributed by CRU Steel Analyst Ryan McKinley. Steel Market Update will periodically expand its coverage of the steel market with long products content from CRU as an added benefit to our members. U.S. mills announced wire rod price increases of $1.50/cwt across […] The post Stable Lead Times, Low Imports, Scrap Hikes Boost Long Products Prices in the U.S. appeared first on Steel Market Update.