Ferrous scrap prices for March settled up $20/GT, report Steel Market Update sources. “The ferrous market was up $20 across the board without much deviation across the country. That puts Midwest shred at around $355-360 and busheling at $370-380. Export has rebounded this week by about $5-10 from recent sales. The most recent sale to Turkey […] The post Ferrous Scrap Prices Up $20 in March appeared first on Steel Market Update.
In the last month, there has been a positive turnaround of raw materials prices. Table 1 summarizes the price changes through February of the five materials considered in this analysis. It reports the month/month, 3 month/3 month and 12 month/12 month changes and tells us that price movements with the exception of busheling have been […] The post Raw Material Prices: Iron Ore, Coking Coal, Pig Iron, Scrap and Zinc 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 Market chatter suggests that February has been a fairly active month for HR physical steel sales as spot price indexes have pushed […] The post Hot Rolled Futures: Q2’19 to Q4’19 Backwardation Gets Steeper appeared first on Steel Market Update.
Ferrous scrap for February is settling at sideways prices for obsolete grades and down about $20 per ton for prime grades, report Steel Market Update sources. This latest dip follows on a $30-40 per ton decrease in January, largely attributed to weak demand from overseas. “A rising export market, which curtailed East Coast suppliers from […] The post Ferrous Scrap Prices: Prime Grades Down $20, Obsoletes Sideways in February appeared first on Steel Market Update.
January got off to a tentative start as steel prices continued to decline, leaving buyers with a cautious perspective on the months ahead. Steel Market Update’s Buyers Sentiment Index shows buyers slightly less optimistic than they were in November. Sentiment factors into buyers’ decision-making about such factors as purchasing, inventory levels, capital investment and hiring. […] The post January at a Glance: Year Off to a Tenative Start 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 The HR futures curve has both flattened and risen versus physical spot HR since its lows on Jan. 7. Optimism is […] The post HRC Futures: Markets Retrace Some of Their Recent Price Declines appeared first on Steel Market Update.
Steel Market Update sources disagree on whether ferrous scrap prices will see a small decline or move sideways in February. But the market remains unusual for this time of year when scrap prices normally increase as the mills restock ahead of new-year steel demand. Scrap prices surprised the market with a $30-40 per ton decrease […] The post Ferrous Scrap Prices: Sideways in February? appeared first on Steel Market Update.
There has been a downward reversal in raw materials prices in the last month. Table 1 summarizes the price changes through January of the five materials considered in this analysis. It reports the month/month, 3 months/3 months and 12 months/12 months changes and tells us that price movements have been negative for all materials except […] The post Raw Material Prices: Iron Ore, Coking Coal, Pig Iron, Scrap and Zinc appeared first on Steel Market Update.
If the prevailing view in the market proves correct, steel mills will announce a price increase soon—but it won’t stick. Two out of three steel executives responding to Steel Market Update’s market trends questionnaire this past week believe the mills will announce an increase in flat rolled prices by the end of January. But given […] The post Steel Market Trends: Price Hike Coming? 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 Since the beginning of the year, the forward curve in CME HR futures has shifted down roughly $25/ST on average for […] The post HRC Futures: CME Steel Futures Comments appeared first on Steel Market Update.