This is only our second ever write up of global scrap trade. In future we will report quarterly because we believe that to understand the gyrations of the domestic scrap market we should be aware of where the US stands as a global player. This data is not very current because some nations are slow […] The post Global Scrap Trade through Q4 2016 appeared first on Steel Market Update.
When we conducted our flat rolled market trends analysis during the middle of February we found 20 percent of our respondents had concerns regarding supply during calendar year 2017. The majority of respondents (63 percent) expressed no concerns about supply. As we move forward to last week the majority is still expressing no concerns about […] The post SMU Survey Results: Concerns Growing About Supply – Especially Coated Steels appeared first on Steel Market Update.
Steel Market Update (SMU) has adjusted our Price Momentum Indicator to reference spot prices as moving higher from this point over the next 30 days. Our decision to move our indicator is due to the continued high prices for steel mill inputs, such as 62% Fe iron ore fines in China being sold at $91.50/dmt […] The post SMU Price Momentum Indicator Moved to Higher from Neutral appeared first on Steel Market Update.
We are moving into another exciting week for the flat rolled steel industry. Ferrous scrap negotiations will begin this week and how they are resolved will determine whether flat rolled steel prices roar higher from here or wander around looking for a soft landing. We will be watching and listening for clues about scrap prices […] The post Final Thoughts appeared first on Steel Market Update.
The following article is the opinion of John Packard, Publisher, Steel Market Update. I haven’t gone back and reviewed the records as to how many times flat rolled steel prices moved higher after a quick run up followed by a stable to slightly down market for a couple of weeks. Probably less than the fingers […] The post Flat Rolled Price Increases Coming? appeared first on Steel Market Update.
The following article is the opinion of Steel Market Update (SMU) founder and publisher, John Packard. There is a new kid in town, his/her name is Big River Steel. No other steel mills like BRS because they are taking market share and, well, everyone wants to keep all of their toys. Big River Steel Arkansas […] The post The Sky is Not Falling, Just Some Nuts Rolling on the Ground… appeared first on Steel Market Update.
SMU scrap sources are all telling us that the recent transactions with Turkey have “surprised” dealers, the net result may well be a much weaker domestic scrap market than anticipated as we move into February negotiations next week. A weaker scrap market, especially if it were to drop $35-$40 per gross ton would dampen price […] The post February Scrap Pricing Now Poised to Drop $20-$40 appeared first on Steel Market Update.
This is our first ever write up of global scrap trade. We believe that to understand the gyrations of the domestic scrap market we should study where the US stands as a global player. This data is not very current because some nations are slow to report but we still believe it gives a valuable […] The post Global Scrap Trade through Q3 2016 appeared first on Steel Market Update.
Steel Dynamics is expecting fourth quarter profitability to decline from third due to lower shipments and metal spread compression. Shipments were down in both the flat and long products categories. In addition, lower steel pricing more than offset savings realized from lower ferrous scrap costs. Impairment charges for the quarter are still being assessed related […] The post Steel Dynamics Profits to Decline in Q4 appeared first on Steel Market Update.
The following article on the hot rolled coil (HRC) and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week: Steel Interesting futures markets in steel lately. Today Q1’17 HR traded at $625/ST, 1,200 ST/mo. Also Jan/Feb’17 HR traded at $625/ST, 500 ST/mo. […] The post Hot Rolled Futures: Q1 ’17 Trades at $625 appeared first on Steel Market Update.