Our ferrous scrap sources are advising Steel Market Update that June saw the bottom to scrap prices and July will see prices move sideways (no change) to as much as up $20 per gross ton. If scrap prices do indeed rise by as much as $20 per ton, this could be important for steel buyers […] The post Ferrous Scrap Prices Bottomed in June – Sideways to Up $20 in July (maybe…) appeared first on Steel Market Update.
Our ferrous scrap sources are advising Steel Market Update that June saw the bottom to scrap prices and July will see prices move sideways (no change) to as much as up $20 per gross ton. If scrap prices do indeed rise by as much as $20 per ton, this could be important for steel buyers […] The post Ferrous Scrap Prices Bottomed in June – Sideways to Up $20 in July (maybe…) appeared first on Steel Market Update.
We have been working on trying to get a handle on scrap prices and adjustments in the costs the domestic steel mills will have for scrap during the month of June. SMU sources advised us that with the exception of prime grades of scrap most mills cancelled their remaining orders at the end of the […] The post Shredded Scrap Was Weakest Grade in June Trading appeared first on Steel Market Update.
Ferrous scrap negotiations have begun between the U.S. and Canadian steel mills with most mills expecting lower prices. One way we know if the mills believe prices will fall is they will cancel any remaining orders from May that have not yet been completed from their scrap suppliers in the hopes of being able to […] The post Scrap Pricing Floor May Hinge on Turkish Buying appeared first on Steel Market Update.
Iron ore spot prices in China have been falling and may continue to decline to the lows last seen in September 2012 when prices for 62% Fe fines reached into the $80’s (currently trading at $97.5/dmt). Steel Market Update has been reviewing the relationship between iron ore and ferrous scrap prices using shredded scrap as […] The post Iron Ore Prices Slip Will Scrap Prices Follow? appeared first on Steel Market Update.
U.S. and Canadian steel mills continue to keep a firm grip on pricing as supply (production) related problems keep lead times extended on most products. We are seeing the impact of foreign galvanized and Galvalume imports influencing at least one coated steel mill in the South. Domestic buyers appear to be accepting the higher prices […] The post SMU Price Ranges & Indices: Sideways But Firm appeared first on Steel Market Update.
Shredded scrap prices were still volatile in some markets as it searched for a bottom in the Ohio Valley and elsewhere at the end of last week. Detroit was reported to be the first market to settle with the mills there paying $15 per gross ton less than the prior month paying approximately $380 per […] The post Shredded Scrap Prices Drop in Midwest, Primes Sideways appeared first on Steel Market Update.
You can expect to begin to read a lot of articles calling for prices “peaking” or about the subject of where do prices go from here. The expectation is that prices will move lower and everyone will have an opinion or theory as to why this will happen. Others will make the case for sideways […] The post Final Thoughts appeared first on Steel Market Update.
Shredded ferrous scrap prices are now projected to be down $15 to $20 per gross ton in the Chicago market according to SMU sources. At the same time prime grades (like #1 busheling) are expected to tread sideways (remain the same as prior month). If, once the deals are completed, all runs true to the […] The post Price Spread to Return Between Shred and Prime Grades of Scrap appeared first on Steel Market Update.
Today is the 3rd of April and negotiations between the steel mills and their scrap suppliers continue in earnest. We heard from one of our sources that Detroit has settled up $10 per gross ton. Our source reported #1 Heavy Melt (HMS) at $365-$370 per gross ton, shredded scrap at $395-$400 per gross ton and […] The post April Scrap Negotiations appeared first on Steel Market Update.