From Steel Market Update perspective there are a number of keys to watch during the month of August: • Scrap prices: Shredded scrap prices are forecast to be down $10-$20 per gross ton due to oversupply. Other scrap grades such as cut grades and prime are forecast to be sideways to down $5 per […] The post August Keys to Staying Ahead of the Curve appeared first on Steel Market Update.
By John Packard On Saturday, Upstate Shredding held an open house for their new Port of Albany, New York recycling and shipping facility. What makes this one special is that the scrap operation sits on water which will provide the company with access to barge shipments to customers such as Nucor as well as ocean […] The post Upstate Shredding Port of Albany Facility Takes Aim at Export appeared first on Steel Market Update.
Written by: Bradley Clark, Director of Steel Trading, Kataman Metals TSI Iron Ore: Prices Up, Up and Away… Iron Ore over the past few weeks remains a true bright spot in the commodities complex as stronger than expected summer steel demand in China has driven prices to highs not seen in months and monthly shipments […] The post Iron Ore & Scrap Futures: Up, Up and Away and Firm in a Sideways Market appeared first on Steel Market Update.
Written by: Bradley Clark, Director of Steel Trading, Kataman Metals The HRC futures market has been exceptionally quiet over the past few weeks with almost no volume trading as the recent price hikes, uncertainty of pricing going forward and middling futures pricing has led most traders to sit on the sidelines awaiting the next price […] The post Hot Rolled Futures Hold Steady in the Face of an Uncertain Physical Market appeared first on Steel Market Update.
Written by: John Packard Chicago area scrap deals were lower on shred and basically sideways on #1 HMS and #1 Busheling according to SMU sources as of today. #1 heavy melt was put at $351-$355 per gross ton. Shredded Scrap was put at $366 per gross ton. #1 Busheling was reported to be sideways […] The post Chicago Area Scrap Settles Down $10 on Shred – Primes Move Sideways appeared first on Steel Market Update.
One of our scrap sources – a Northeast based shredding company – reported sales to one of the mill scrap brokerage companies with two sales on shredded scrap. One 35,000 ton lot at down $20 per gross ton shipping by rail, a second lot of shred sold down $15 per gross ton to ship by […] The post U.S. Scrap Prices “Sloppy” as Mills Buy at Lower Levels appeared first on Steel Market Update.
U.S. Midwest #1 Busheling Ferrous Scrap (AMM) Prices Drop as an April Pullback Looks Likely After prices for March settled up $40+ the market for April already is starting to shape up significantly weaker. Dealers succeeded in pushing up prices last month but currently it looks like April will be down at least $20 t […] The post U.S. Ferrous Scrap, Iron Ore & Billet Futures appeared first on Steel Market Update.
Steel Market Update will begin our mid-March steel survey on Monday morning. Invitations will be sent out at approximately 8 AM ET. If you receive an invitation please spend a few moments to click on the link – which will take you to SurveyMonkey.com – to complete our survey. Your opinions are valuable to our […] The post Final Thoughts appeared first on Steel Market Update.
I appreciate all the kind comments we have been receiving over the past few weeks. It appears the addition of Sandy Williams and Peter Wright are net positives for Steel Market Update and I am pleased with the work both of them are doing for SMU. I received the following email from a large Midwest […] The post Final Thoughts appeared first on Steel Market Update.
The U.S. Department of Commerce released ferrous scrap export data a little earlier this week. Total exports of scrap in January 2013 were 1,532,498 metric tons (1,689,288 net tons) to all countries. This is a little less than December shipments but above the January 2012 total. Below is a chart of the top 10 countries […] The post January Ferrous Scrap Exports appeared first on Steel Market Update.