This week the domestic steel mills and their scrap suppliers will be locked in negotiations to determine the price of ferrous scrap used in the EAF’s and BOF’s to make steel. Steel Market Update sources have been advising that the October scrap market looks to be down $10 per gross ton before firming later in […] The post October Scrap Forecast to be Down $10 Per Gross Ton appeared first on Steel Market Update.
TSI Iron Ore: Prices Wobble in Signs Market is Cooling… Iron ore prices have softened over the past couple of weeks, but are still holding the recent range above $130 per ton. Mixed news out of China regarding steel demand has cooled off buying for the time being as the market has failed to break […] The post Iron Ore & Scrap Futures appeared first on Steel Market Update.
July ferrous scrap exports totaled 1,203,282 metric tons (1,326,390 net tons) with Turkey, Taiwan, China, Mexico, and Canada being the top five importing countries of U.S. scrap. Of the higher ranking countries in the table below, there was month-over-month increase in exports going to Turkey, China, Mexico, Canada, and Indonesia over the June figures, but […] The post July Ferrous Scrap Exports Down Across the Board appeared first on Steel Market Update.
TSI Iron Ore: Prices Stay Firm, Future Is Uncertain… After breaking through the psychological ceiling of $140/ ton a couple of weeks ago, the iron ore spot market has retreated ever so slightly to $137. While this is not necessarily an indication of a reversal in the pricing trend, it may shed light on […] The post Iron Ore, Scrap Futures Face Uncertainties appeared first on Steel Market Update.
Final Scrap Pricing Settlement Numbers Still in Negotiation Scrap prices continued their weakening trend – especially on shredded with cut grades such as #1 HMS and prime grades such as #1 busheling are moving sideways to down $10 depending on the geographical location and the status of the mills in each area. We heard from […] The post Scrap Prices Weakening as Week Progresses appeared first on Steel Market Update.
The Far East and Southeast Asian ferrous scrap markets have been on the uptrend since the end of July. Since mid-July, scrap prices have risen approximately $20-$25/metric ton. This coincides with Tokyo Steel in Japan increasing scrap prices twice by approximately $24/MT. The increase in scrap prices were reactionary as steel stockists ramped purchases from […] The post Asian Scrap Markets: Have Prices Hit a Plateau? appeared first on Steel Market Update.
Steel Market Update sources are forecasting slightly lower shredded scrap prices in the Midwest and Ohio Valley as we prepare to move into September. Prime grades (such as #1 busheling) are forecast to be sideways to down slightly and cut grades are forecast to move sideways across most areas of the country. This is what […] The post Scrap Prices for September Forecast Sideways to Slightly Lower appeared first on Steel Market Update.
Sims Metal Management, a metals and electronics recycler headquartered in Australia, announced North American results for FY 2013 ending June 30, 2013. Underlying EBITDA for North American operations rose 30 percent year-over-year to $102.3 million. (Underlying EBITDA is a measure of the actual profits realized by a company used for business process planning, rather than […] The post Sims Reports Lower Results for FY 2013 appeared first on Steel Market Update.
We have been receiving a number of calls and emails regarding our Steel Summit Conference. Seems like we are disappointing a large number of people by not producing the conference this year. We will make up for it next year. Early indications for September is for shredded scrap to drift another $10 per gross ton […] The post Final Thoughts appeared first on Steel Market Update.
U.S. Midwest #1 Busheling Ferrous Scrap (AMM) Typically Quiet Mid-Month Market While the HRC futures market is experiencing a summer lull, the AMM Busheling contract has been virtually non-existent the past few weeks. After the physical market for busheling priced sideways this month the futures market has not reacted. It seems that the usual pattern […] The post Iron Ore & Scrap Futures appeared first on Steel Market Update.