Tag: Import

Warning: You can drown reaching for the bottom…! Steel Market Update (SMU) is learning that the ferrous scrap deals which were done earlier this week in Detroit and in northern Ohio were done at sideways pricing on obsolete grades (such as heavy melt and shredded scrap) while primes grades (Busheling/bundles) dropped $20 per ton. However, […] The post Early Reports Have Obsolete Scrap Sideways While Primes Down $20 appeared first on Steel Market Update.

After negotiations were completed for February scrap pricing, the word being spread around the industry was to expect another drop in March, perhaps down $20 on most grades. However, the weather got brutal during the month and we are hearing that many dealers will not be able to complete deliveries on obsolete grades of ferrous […] The post March Scrap Negotiations May Take Awhile appeared first on Steel Market Update.

We made a mistake in our most recent issue when we referenced $440 as being the low for hot rolled back in June 2009. That was actually the low for the galvanized base price (noted in the HARDI article in that same issue). The low for hot rolled in June 2009 was $380 per ton […] The post How Low Can Hot Rolled Prices Go? appeared first on Steel Market Update.

With the reset of iron ore and ferrous scrap pricing there is an extraordinary amount of interest in trying to figure out the cost to produce a hot rolled coil at the domestic steel mills. This is a question Steel Market Update is asked on an almost weekly basis. We wrote about the subject recently […] The post Theoretical Mill Cost to Produce Hot Rolled Coil: Debate Continues appeared first on Steel Market Update.

Steel Market Update saw an interesting report on the impact of lower scrap prices to the steel industry. The report was produced by metals and mining analysts, Timna Tanners of Bank of America Merrill Lynch Research for her clients. A question Steel Market Update receives on a regular basis is what is the marginal cost […] The post Timna Tanners: “New Normal” Range for Hot Rolled Coil = $450 to $580 appeared first on Steel Market Update.

On Monday we will begin our mid-February flat rolled steel market analysis. The market has seen prices dropping over the past few weeks at a rate not seen for a number of years. Our survey will help us not only understand where price offers/orders are today but when we think the bottom will be reached. […] The post Final Thoughts appeared first on Steel Market Update.

In the twelve months of 2014, ferrous scrap exports totaled 15,308,000 tonnes (metric tons), down by 17.1 percent from the same period in 2013. In the single month of December scrap exports were 1,056,570 tonnes, down 21.5 percent from November. Figure 1 shows that the three month moving average (3MMA) has been declining slightly for […] The post US Steel Scrap Exports Drop 17.1% During 2014 appeared first on Steel Market Update.

As we reported last week, prior to negotiations beginning for the month of February market players were predicting ferrous scrap prices would drop by $30-$50 and then $50-$70 per gross ton. Then we heard prices would drop by $100 per gross ton over the months of February and March combined. When the smoke cleared at […] The post Ferrous Scrap Pricing Drops $80 to $110 appeared first on Steel Market Update.

The domestic steel mills and their ferrous scrap suppliers traditionally negotiate pricing on scrap to be delivered during the first few days of the new month. This means the mills and their suppliers are deep into negotiations regarding February scrap purchases right now. Last week the word amongst the “scrappies,” as well as their mill […] The post Ferrous Scrap in Free Fall? appeared first on Steel Market Update.

Steel Market Update thought it might be worthwhile to pick out some of the comments made by Steel Dynamics CEO Mark Millett during his earnings conference call with analysts late last week. We have focused on comments made about foreign steel, scrap, energy markets and the new Columbus facility. Each of the comments made are […] The post Steel Dynamics CEO Talks Imports, Scrap, Columbus and Energy Markets appeared first on Steel Market Update.