Tag: SMA

AK Steel and NLMK USA raised flat rolled steel prices by $40 per ton ($2.00/cwt) on all new spot sales of flat rolled steels (hot rolled, cold rolled, galvanized). At the same time, SMU understands that Steel Dynamics has opened their order books for February and are quoting prices that are approximately $40 per ton […] The post Steel Buyers Weigh in on Domestic Spot Price Increase Announcements appeared first on Steel Market Update.

There has been a flurry of activity over the past 24 hours with our sources suggesting that the very early trades on ferrous scrap were done up $30 to $45 per gross ton. As we slide into late Tuesday our sources were advising that the numbers could be up as much as $50 per gross […] The post Scrap Pricing Moving Higher than Expected appeared first on Steel Market Update.

Ferrous scrap prices are poised to increase to the domestic steel mills and negotiations are under way. The domestic mills did not cancel the open orders that have not yet been delivered which is a sure sign that they expect prices to be higher in December than what they negotiated in November. A pig iron […] The post Early December Scrap Negotiations Suggest Market will be Up $30-$40 appeared first on Steel Market Update.

The following article on the hot rolled coil (HRC) and financial futures markets was written by Andre and Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week: The bearishness was so thick 1-2 months ago you could cut it with a knife! The steel futures were getting crushed, […] The post Hot Rolled Futures: Wow! What a Month Makes! Boom! appeared first on Steel Market Update.

The following article on the hot rolled coil (HRC) and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week: Steel – HR futures The Hot Rolled futures market this past week has been characterized by limited trading activity.  There have been numerous […] The post Hot Rolled Futures: Limited Trading Activity appeared first on Steel Market Update.

Steel Dynamics reported higher flat rolled prices resulted in an 11 percent increase in earnings in the third quarter. Net earnings were $284 million on net sales of $2.1 billion. Adjusted net income, including a $5 million litigation settlement charge, was $157 million for the quarter. SDI steel production was at 85 percent capacity in […] The post SDI Believes Weaker Demand is Seasonal, Not Structural appeared first on Steel Market Update.

The conversation has begun regarding when flat rolled steel prices will end their slide and reverse course. Flat rolled steel prices have been in a steep decline since mid-June 2016 when benchmark hot rolled prices peaked at $635 per ton ($31.75/cwt, SMU index average) FOB domestic mill. Since then steel prices have retreated $145 per […] The post Are Flat Rolled Steel Prices Poised to Move Higher? appeared first on Steel Market Update.

Market sources are advising Steel Market Update to expect lower ferrous scrap prices in October. We are hearing the expectation by the dealers is for prices to drop anywhere from $15 to $40 per ton with most believing the adjustments will be in the $20 per ton range for obsolete grades and $30 per ton […] The post Ferrous Scrap Prices Poised to Drop in October appeared first on Steel Market Update.

The following article on the hot rolled coil (HRC) and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week: The focus in HR this past week has been primarily in Q4’16 and 1H’17.   Futures prices have dropped to the psychological $500 level […] The post Hot Rolled Futures Drop to the Pychological $500 Level appeared first on Steel Market Update.

The following article on the hot rolled coil (HRC) and financial futures markets was written by Andre Marshall of Crunch Risk LLC. Here is how he  saw the financial markets as well as HRC and scrap trading over the past week: The Financial Blah Blah: The U.S has been the bright spot. Just look at […] The post Hot Rolled Futures: Here We Go Again! appeared first on Steel Market Update.