We provided full year projected steel imports in tonight’s issue. Please be aware: 1) the November numbers are Preliminary Census and should be very close to accurate, 2) the December numbers are based on license data and there can be fluctuations in the Census and license data numbers. November is a good example. November license […] The post Final Thoughts appeared first on Steel Market Update.
Most ferrous scrap pricing deals will be negotiated between the domestic steel mills and their suppliers over the next few days. Steel Market Update sources are telling us scrap prices could move up by $10 to $30 per gross ton or more depending on product and the region of the country. Mike Marley of MetalPrices.com […] The post Scrap Prices Expected to Go Up in January in Short-Lived Rally appeared first on Steel Market Update.
Shredded scrap prices are up approximately $20 per ton compared to where they were the first week of December. According to Mike Marley of MetalPrices.com, shred is in tight supply in several Midwest cities due to the decline in the flows of shredded feedstock due to the lower selling prices in October and November and […] The post Have Ferrous Scrap Prices Bottomed? appeared first on Steel Market Update.
Today’s hot rolled, ferrous scrap and iron ore futures article comes to us from Andre Marshall, CEO of Crunch Risk LLC and the instructor for Steel Market Update’s Managing Price Risk I and Managing Price Risk II workshops. Along with HRC, iron ore and BUS trading. Andre also discusses the S&P 500, copper and crude […] The post Hot Rolled Futures: Egads Hot Rolled Too! appeared first on Steel Market Update.
October ferrous scrap exports totaled 1,473,856 net tons (1,337,061 metric tons) with Turkey, Taiwan, Korea, Canada, and Saudi Arabia being the top five countries receiving scrap from the United States. These five countries accounted for 72.4 percent of all scrap exports. Total October ferrous scrap exports were 14.9 percent higher than previous month and 1.5 […] The post October Ferrous Scrap Exports Up MOM and YOY appeared first on Steel Market Update.
With buying prices down by approximately $60 per ton over the past two months, we are seeing a lack of feedstock for shredded scrap across the country. The net result is shredded scrap prices are up $5 to $10 per gross ton compared to where they were in November in most regions east of the […] The post Shredded Scrap Prices Rise appeared first on Steel Market Update.
An explanation of the Key Indicators concept is given at the end of this piece for those readers who are unfamiliar with it. The total number of indicators considered in this analysis is currently 36. The Chicago Fed Mid-West Manufacturing Index which was suspended earlier this year was expected to be re-instituted this month but […] The post Key Market Indicators November 30th 2014 appeared first on Steel Market Update.
We ended the article above talking about the tight range we have seen on hot rolled coil over the past 12 months. Total price movement from low to high during that time period has been $65 per ton. The question is, will U.S. hot rolled coil prices break through the low of the past 12 […] The post Ferrous Scrap, Iron Ore & Steel Prices appeared first on Steel Market Update.
Today’s hot rolled, ferrous scrap and iron ore futures article comes to us from Andre Marshall, CEO of Crunch Risk LLC and the instructor for Steel Market Update’s Managing Price Risk I and Managing Price Risk II workshops. Along with HRC, iron ore and BUS trading Andre also discusses the S&P 500, copper and crude […] The post Hot Rolled Futures: The Other Shoe Drops appeared first on Steel Market Update.
One of the topic of conversations during the Cowen & Company Global Metals, Mining & Materials Conference was the issue of scrap prices versus iron ore and the value of iron “units.” On the first day of the conference, Dan DiMicco former CEO of Nucor, told the audience that iron ore and scrap would come […] The post Iron Ore, Scrap & Relationship as Iron Units appeared first on Steel Market Update.