Tag: SMU

The scrap export market has demonstrated resiliency so far this year from the US East Coast. This strength has mainly come from the Turkish market. Despite weakening orders for rebar in their domestic market, imported scrap prices have held up until the last several days. The US West Coast is not as active, but there are orders in South Asia and in South America that are keeping things afloat. The post Miller on scrap: US East Coast boosted by Turkey appeared first on Steel Market Update.

The spread between hot-rolled coil (HRC) and prime scrap prices narrowed further this month, according to SMU’s most recent pricing data. The post HRC vs. busheling scrap spread narrows in February appeared first on Steel Market Update.

US busheling scrap prices fell this month, while HMS and shredded grades remained largely unchanged. The post Prime scrap tags fall in February, HMS and shredded mostly flat appeared first on Steel Market Update.

The market for February scrap shipments has largely been settled. The prices for scrap across the country went down very modestly. The price tags on #1 Busheling and bundles went down $10 per gross ton (gt) in most districts. The exceptions were Chicago and Detroit, which fell $30/gt, to $480 and $475, respectively. The post Miller on scrap: February tags seen edging down appeared first on Steel Market Update.

After holding steady for most of January, the hot rolled (HR) index has started to gain some downward momentum. In the last 30 days, it has declined $89 per short ton (st) and is sitting just above $1,000/st. The post HRC futures: Momentum picking up on HR spot price declines appeared first on Steel Market Update.

The pig iron market has risen in recent months from the high $390s per metric ton (mt) last fall to $490/mt for Brazilian material and a bit more for Ukrainian product - for an overall average of $495/mt CFR. The post Miller on raw materials: A pig iron market update appeared first on Steel Market Update.

The sun decided to greet us on the second day of the Tampa Steel Conference 2024. Attendees from the chillier northern parts of the continent got their dose of winter sunshine. But whatever the temps, it was inside the conference room where things really heated up. January is always a time to make sense of the year that’s just passed, and look out for the trends for the year ahead. The post Final thoughts appeared first on Steel Market Update.

Algoma Steel is currently navigating a challenge as it deals with an unplanned outage at its blast furnace, but the company’s CEO is still bullish on its future as an EAF steelmaker. The post Tampa Steel: Garcia lays out Algoma Steel’s path forward appeared first on Steel Market Update.

Steel Dynamics Inc. faces rising costs for its Columbus, Miss., aluminum rolling mill, but the project timeline remains on track. The post SDI aluminum project logs cost bump, but timeline holds firm appeared first on Steel Market Update.

The state of the US scrap market is not very well understood, according to the dealer trade. It seems steelmakers in several regions are still looking to buy scrap, several sources told SMU. The post Miller on scrap: What’s next for February? appeared first on Steel Market Update.