Tag: Shredded

Ferrous scrap prices, which were widely expected to move higher again in June, traded “mostly sideways” as supplies increased while demand continued to lag, report Steel Market Update sources. In May, ferrous scrap prices settled up $30 per ton for shredded and up $40-50 per ton for busheling as coronavirus shutdowns disrupted scrap generation and […] The post Ferrous Scrap Prices Move “Mostly Sideways” in June appeared first on Steel Market Update.

Ferrous scrap prices for Detroit came out late this afternoon. Prime grades (busheling and bundles) were up $10 per gross ton. There was no change to cut grades, and shredded scrap was down $10/GT. On Wednesday, June 3, we will host our 9th SMU Steel Community Chat webinar. We will be discussing trade with trade […] The post Final Thoughts appeared first on Steel Market Update.

The COVID-19 pandemic has resulted in weaker global demand for steelmaking raw materials. However, the cost of producing and delivering many of these commodities has also fallen. Strong demand in China is helping to buoy prices for iron ore and other materials. Table 1 summarizes the price changes through May 21 of the five materials […] The post Raw Materials Prices: Iron Ore, Coking Coal, Pig Iron, Scrap, Zinc appeared first on Steel Market Update.

Ferrous scrap prices for May have settled up $30/GT for shredded and up $40-50/GT for busheling as the coronavirus shutdowns have disrupted scrap generation and collection, resulting in extremely tight supplies. Higher scrap prices may lend support to the higher finished steel prices announced by the mills this week. The tight supply is a more […] The post Ferrous Scrap Trades $30-50 Per Ton Higher in May on Tight Supplies appeared first on Steel Market Update.

Prices of steelmaking raw materials all declined in April, reflecting the initial impact of coronavirus shutdowns and the idling of steelmaking facilities all over the world. Generally speaking, rising supplies and lower demand are likely to keep downward pressure on iron ore, coking coal, pig iron, scrap and zinc in the months to come. Table […] The post Raw Materials Prices: Iron Ore, Coking Coal, Pig Iron, Scrap, Zinc appeared first on Steel Market Update.

“The scrap market is almost certainly going to go sideways if not higher in May due to the extreme supply squeeze we have seen this month,” said CRU Senior Analyst Ryan McKinley. Ferrous scrap prices weakened for much of the first quarter, punctuated by a $30-50 per ton decrease in April. But May scrap prices […] The post Scrap Prices to Gain Support from Tight Supplies in May appeared first on Steel Market Update.

With much of U.S. manufacturing on hold to control the spread of the coronavirus, it’s no surprise that steel production and demand for scrap are substantially lower than last month. Ferrous scrap prices are generally trading down $50 per ton for obsolete grades and $30 per ton for prime grades in April, reported Steel Market […] The post Ferrous Scrap Prices Looking Down $30-50 in April appeared first on Steel Market Update.

Raw materials prices are poised for a rapid decline as the dollar strengthens and the global economy slumps.   Table 1 summarizes the price changes through March 18 of the five materials considered in this analysis. It reports the month/month, 3 months/3 months and 12 months/12 months changes on a percentage basis. This is likely our […] The post Raw Materials Prices: Iron Ore, Coking Coal, Pig Iron, Scrap, Zinc appeared first on Steel Market Update.

Ferrous scrap prices surprised to the low side in March, trading sideways to up just $10 per ton, well below initial expectations of up $10-30/GT. The mills were anticipating that higher scrap prices this month would lend support to the $40 increase in finished steel prices they announced last week. “In the Ohio Valley, obsolete […] The post Ferrous Scrap Prices Surprise to the Low Side in March appeared first on Steel Market Update.

Key Market Indicators show that the improvement in market trends in December and January translated to a jump in the present situation in February. This report is designed to be a big picture summary of data on which we have reported in detail during the month. In it we summarize 36 data streams that describe […] The post SMU Analysis: Key Market Indicators through February appeared first on Steel Market Update.