The following article on the hot rolled coil (HRC) steel and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week: Steel HR spot prices continued higher this past week with prices reportedly trading in the mid $860’s. Meanwhile, in April thus far, […] The post Hot Rolled Steel and Scrap Futures appeared first on Steel Market Update.
Steel Market Update’s sources report that ferrous scrap prices have increased by $5 to $15 per gross ton in April, depending on the type and region. Some predict scrap prices are likely to decline in May. Strong domestic demand is the key driver of rising scrap prices, said one dealer in the North. “With few […] The post Ferrous Scrap Prices Rise in April, to Decline in May? appeared first on Steel Market Update.
First, ferrous scrap prices are rising for delivery during the month of April. However, our sources are telling us that the increases are not at the $20-$30 per gross ton suggested a few days ago. The mills are playing hardball and the sense is that prices will drop in May, so dealers are taking what […] The post Final Thoughts appeared first on Steel Market Update.
China will control the global ferrous scrap market, it’s just a matter of time, says scrap expert John Harris of Aaristic Services, Inc. China produces about half the world’s steel every year and has accumulated a scrap reservoir more than sufficient to meet its domestic steelmaking needs. There is little reason for China to import […] The post China’s Poised to Disrupt the Ferrous Scrap Market appeared first on Steel Market Update.
Steel Market Update has been diligently working toward completing our SMU Steel Summit Conference agenda. We have been intentionally taking our time as we wait for market developments to mature and provide guidance as to what subjects will be the most pressing to the manufacturing companies, fabricators, steel distributors, steel mills, trading companies, toll processors […] The post Steel Summit Agenda is Strong and Getting Stronger appeared first on Steel Market Update.
Steel Market Update has been diligently working toward completing our SMU Steel Summit Conference agenda. We have been intentionally taking our time as we wait for market developments to mature and provide guidance as to what subjects will be the most pressing to the manufacturing companies, fabricators, steel distributors, steel mills, trading companies, toll processors […] The post Steel Summit Agenda is Shaping Up appeared first on Steel Market Update.
Ferrous scrap prices are expected to rise $20 to $30 per gross ton in April, and possibly more, according to Steel Market Update sources. All grades are expected to see increases, and with relative parity across the country. One dealer told SMU there is pressure on obsolete grades as the long winter has impeded the […] The post Scrap Prices Expected to Jump in April appeared first on Steel Market Update.
The world’s scrap trade continues to expand as the growth of global GDP accelerates. Steel Market Update performs this analysis quarterly to help readers understand the gyrations of the global scrap market. This data is a quarter in arrears because some nations are slow to report. In the 12 months of 2017, U.S. scrap exports increased […] The post Scrap Trade: Expanding with Global GDP appeared first on Steel Market Update.
The following article on the hot rolled coil (HRC) steel and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week: Steel HR futures prices have moved up. POTUS has been keeping the HR futures market hopping this week. The plethora of news […] The post Hot Rolled Steel and Scrap Futures: Market’s Hopping appeared first on Steel Market Update.
As much as the mills are gloating about President Trump’s decision to lay a 25 percent tariff on foreign steel, remember one thing – not one of them asked for it. When it was handed to them, they took it. They did not fight to protect those products that they don’t like to make (or […] The post Final Thoughts appeared first on Steel Market Update.