The US scrap market showed some stability in August, with prices mostly sideways on busheling and shredded grades, and HMS prices ticking up from the previous month, sources said. The post US Busheling, Shred Tags Level Off in August, HMS Up appeared first on Steel Market Update.
Sheet prices were mixed this week with hot-rolled coil (HRC) and galvanized base prices slipping again even as cold-rolled tags inched up. The post SMU Price Ranges: HRC Dips Below $800 per ton appeared first on Steel Market Update.
The summer cycle has brought more focus around the uncertainty of where HR prices are headed. Spot indexes continue to bleed lower despite price hikes from sheet mills. Market talk is of still lower prices as the gap grows between the slow-moving index versus expectations for HR future prices declines. (The index likely reflects smaller, […] The post HRC Futures: Supply/Demand Uncertainty Pushes HR Forward Curve Lower and Flatter appeared first on Steel Market Update.
Sheet prices slipped for the third consecutive week on continued discounts from certain mills for larger buyers. The post SMU Price Ranges: Sheet Price Slide Again as Volume Discounts Continue appeared first on Steel Market Update.
August could see US scrap prices stabilizing, or even rising, depending on the grade or region, scrap sources told SMU. The post Domestic Scrap Tags Could Rebound in August: Sources appeared first on Steel Market Update.
Schnitzer Steel Industries has changed its corporate name to Radius Recycling. The Portland, Ore.-based scrap recycler and long steel producer said on Wednesday it’s part of a rebranding initiative to reflect the company’s “vision, purpose, and impact on the global economy.” “While metals recycling and steel manufacturing have been the foundation of our global business for […] The post Schnitzer Steel Changes Name to Radius Recycling appeared first on Steel Market Update.
Steel Manufacturers Association (SMA) president Philip K. Bell will be joining as a panelist and presenter at the 2023 SMU Steel Summit Conference Aug. 21-23 in Atlanta. “I’ve been attending Steel Summit for over a decade, and each year it gets bigger and better,” Bell said in a sitdown with SMU. This year he will […] The post Steel Summit 2023 Speaker Focus: Philip K. Bell appeared first on Steel Market Update.
Hot-rolled coil prices remain rangebound between roughly $850-900 per ton ($42.50-45 per cwt), according to our latest market check. You could say that’s not news. Our HRC index settled at $870 per ton on Tuesday afternoon. A week-over-week decline of $20 per ton from $890 last week might be little more than noise. You’d want to […] The post Final Thoughts appeared first on Steel Market Update.
On Steel Market Update’s most recent Community Chat, we caught up with Timna Tanners, managing director of Wolfe Research, to hear her latest take on the steel market. Tanners chatted with SMU managing editor Michael Cowden about the myth of mill discipline within the sheet market. The market isn’t much more disciplined than a few […] The post SMU Community Chat: Tanners Talks the ‘Myth’ of Mill Discipline appeared first on Steel Market Update.
The spread between hot-rolled coil (HRC) and prime scrap prices continued to narrow in July, according to Steel Market Update data. SMU’s average HRC price rose this week, while busheling scrap tags fell. Our HRC average price rose $10 per net ton week over week to $890 per ton ($44.50 per cwt) as of Tuesday, July 11. Busheling tags, […] The post Prime Scrap, HRC Price Spread Narrows Further in July appeared first on Steel Market Update.