The following report was prepared by Andre Marshall, CEO of Crunch Risk, LLC which is a company specializing in hot rolled, ferrous scrap and other “futures” contracts or financial derivatives. Today he discusses the broader financial markets, hot rolled steel futures (HRC), iron ore and ferrous scrap futures (BUS) trading on the CME. Andre Marshall […] The post Hot Rolled Futures: No Relief in Sight appeared first on Steel Market Update.
Steel Market Update (SMU) had been hearing that we should expect sideways scrap prices as we move into September. However, over the last couple of working days the signals are now pointing toward a strong sideways to slightly higher tilt to ferrous scrap pricing. We have heard numbers could go up as high as $10 […] The post Ferrous Scrap Prices for September: Firm Sideways to Up $10-$20 appeared first on Steel Market Update.
Pricing in the HRC futures market has continued slightly upward this week stemming from positive economic data and a bullish outlook within the steel industry. September prices have been trading around $655-667, October prices have been trading between $640-657, and Q4 has traded between $645-651, all about $5-10 improvements week on week. Further down the […] The post Hot Rolled Futures: Bull Market Becoming a Reality appeared first on Steel Market Update.
Today’s hot rolled coil futures (HRC) article comes to us from Andre Marshall, CEO of Crunchrisk, LLC and our Managing Price Risk I & II instructor. In his article he will review the S&P 500, copper pricing, crude oil pricing, steel, iron ore and ferrous scrap futures trading: Well the S&P 500 reached its high […] The post Hot Rolled Futures: World in Turmoil appeared first on Steel Market Update.
SMU’s latest ferrous scrap report from Damon Sun of Daido International shows heavy melt scrap holding firm at $350/mt. Scrap imports from the US to Taiwan appear to be on hold. He reports recently selling 5000mt at $343/mt CFR Taichung. Kaoshiung was buying late last week at $348/mt but then stopped buying. Scrap from Thailand […] The post Asian Scrap Markets appeared first on Steel Market Update.
The HRC futures market has continued its upward trend in the past few weeks with recent bullish events in the physical market supporting prices. While nearby periods remain firm with August and September trading around $650-660, further down the curve cal 15 prices have trended upwards trading up to $643. Similarly, Q1 and cal 15 […] The post Hot Rolled Futures Prices Pop after Weeks of Malaise… appeared first on Steel Market Update.
The SMU Key Market Indicators is a Premium Level product produced by Peter Wright in collaboration with Steel Market Update. Our Executive Level members have been getting access to all of the Premium Level data for the month of July (today is the last day). This includes access to all of the Premium data which […] The post SMU Key Steel Market Indicators Shows Increase in Positive Indicators appeared first on Steel Market Update.
Steel Market Update asked one of our Steel Summit Conference speakers, Mike Marley of MetalPrices.com to comment on why scrap prices moved lower as the month of July progressed compared to the early indications of higher ferrous scrap prices during the first few days of the month. Here is his response: There were a couple […] The post SMU Steel Summit Speaker Mike Marley Forecasting Lower Scrap Prices in August appeared first on Steel Market Update.
The hot rolled steel futures market has perked up in the past few weeks with recent bullish events in the physical market supporting prices. After months of trading in a strong backwardation, prices on the nearby months July, August and September have pushed higher trading near parity with spot prices, between $650-665 per ton. Further […] The post Hot Rolled Futures Prices Pop after Weeks of Malaise… appeared first on Steel Market Update.
The following article on the Asian scrap markets was written by Damon Sun one of Steel Market Update contributing writers and an active participant in the Asian ferrous scrap markets: From last week onwards, the Far East Asian scrap markets have been weakening on the containerized sales, but the bulk scrap sales have insisted and […] The post Asian Scrap Markets: Price Slide Until End of August appeared first on Steel Market Update.