We continue to get positive feedback regarding the new SMU website. As with any new site as complicated as ours is there will be a few bugs and a learning curve to negotiate through in the early stages. We are working through those and believe we are offering a unique experience for those involved in […] The post Final Thoughts appeared first on Steel Market Update.
The original forecast for December scrap pricing was for ferrous scrap prices to move sideways (no change) to slightly higher, maybe $10 per gross ton. That was three weeks ago. As the month of December moved closer, the expectation for a sideways move was replaced with up $10 to $20 per gross ton. The month […] The post Scrap Prices Meeting & Somtimes Exceeding Expectations appeared first on Steel Market Update.
It is still early in the process of negotiations between the domestic steel mills and their scrap suppliers. The steel mills are trying to pay the same prices for ferrous scrap as they did during the month of November and the scrap dealers are having none of it. The scrap suppliers are asking for prices […] The post Final Thoughts appeared first on Steel Market Update.
The recent resurgence of the steel industry in Japan has resulted in a scrap shortage in the Far East, despite lackluster finished steel sales. Japan’s resurgence is a partial result of Abenomics due to the weakening yen (currently at 101). Automobile sales, appliances and public infrastructure spending/reconstruction has resulted in very healthy steel demand in […] The post Tightening Scrap Market in Asia appeared first on Steel Market Update.
SMU Sources Forecast Scrap to Rise by $40 by the Beginning of the New Year Steel Market Update (SMU) scrap sources are forecasting ferrous scrap prices to rise by approximately $40 per ton by early January. December scrap prices are projected to be flat (sideways) to up slightly from November scrap pricing levels. However, scrap […] The post December Ferrous Scrap Forecast to Move Sideways to Up $10 appeared first on Steel Market Update.
September ferrous scrap exports totaled 1,548,020 metric tons (1,706,398 net tons) with Turkey, Korea, Taiwan, China, Mexico, and Canada being the top five recipients of U.S. collected scrap. Of the higher ranking countries in the table below, there was month-over-month increase in exports going to Korea and Mexico over the August figures, but a decrease […] The post September Ferrous Scrap Exports Down 8.4% appeared first on Steel Market Update.
After weeks of ascending prices, the hot rolled coil (HRC) futures market has taken a breather in the last couple of days. Prices have retreated by about $5-10/ton down the curve as a weaker than expected Wednesday brought in several new sellers to the market. November and December periods remain well bid around $660 but, […] The post HRC Futures Pull Back as Market Appears Toppy… appeared first on Steel Market Update.
Our existing website is about as basic as one can get when it comes to housing our pricing and other data. The existing site has no ability to provide data in a graphic form and our tables are cumbersome and pretty low-tech. This is not the image we want to project as we build toward […] The post Interactive Graphing Tool & Tables appeared first on Steel Market Update.
Scrap prices settled higher as the first full week of November came to conclusion. Our sources pegged the Upper Midwest/Chicago area prices up approximately $30 per ton compared to the beginning of October. #1 Heavy Melt (HMS) was referenced at $375 per gross ton ($370-$380 range). Our previous price level for the area averaged $348 […] The post Scrap Prices Up $30 in Most Markets appeared first on Steel Market Update.
TSI Iron Ore: Market Remains Firm Iron ore prices have continued to be strong as Rebar futures have bounced off recent months lows last week and spot steel in China continues to go higher. Over the past couple of weeks iron ore prices have pushed up around $5/ton down the curve with Q1 trading around […] The post Iron Ore & Scrap Futures Firming appeared first on Steel Market Update.