Tag: SMU

SMU contributor Bryan Tice is a partner at Metal Edge Partners, a firm engaged in Risk Management and Strategic Advisory. He and the firm design and execute risk management strategies for clients. They also provide process and analytical support. Before joining Metal Edge Partners, Bryan held commercial leadership roles involving purchasing, sales, and risk management […] The post Hot Rolled Futures: Black Smoke Rising appeared first on Steel Market Update.

Prices for each of the steelmaking raw materials tracked in this SMU analysis decreased over the last 30 days, further declining from the record-high levels seen in March and April. Through the latest data available as of Sept. 21, zinc prices decreased 12% in the last month, busheling scrap and aluminum prices fell 7%, pig […] The post Steelmaking Raw Material Prices Fall Further in September appeared first on Steel Market Update.

US plate prices fell this week, responding to Nucor’s latest price announcement on Monday, Sept. 19. Price tags remain under pressure and further declines are expected through the fourth quarter as spot demand is likely to remain limited. But few expect Nucor’s latest plate price announcement to generate any immediate business, sources told SMU, speculating […] The post Plate Market Report: Prices Fall, More Easing Expected appeared first on Steel Market Update.

The spread between hot-rolled coil (HRC) and prime scrap prices has changed course in recent weeks, according to Steel Market Update data. Busheling scrap prices declined for the fifth consecutive month in September, while hot-rolled prices have levelled out in recent weeks. Overall, we had seen a shrinking delta between the two products from May […] The post Hot Rolled vs Scrap Price Spread Inching Back Up appeared first on Steel Market Update.

Growth is on the horizon for Commercial Metals Company (CMC). The Irving, Texas-based metals provider and recycler announced its acquisition of Advanced Steel Recovery LLC (ASR) in a press release on Sept. 15. In addition to supplying recycled ferrous metals, Rancho Cucamonga, Calif-.based ASR possesses processing and brokering capabilities with which they can procure material […] The post CMC Announces Acquisition of Advanced Steel Recovery appeared first on Steel Market Update.

By CRU Research Analyst Rosy Finlayson, from CRU’s Steelmaking Raw Materials Monitor European scrap prices remained relatively unchanged month-on-month (MoM) in September. Buying activity has been slow after the summer holidays despite this being the normal restocking period. Finished steel mills are reportedly sufficiently stocked at present. Scrap prices in Europe now range between €300 […] The post CRU: European Scrap Prices Stagnate, Buying Activity Remains Low appeared first on Steel Market Update.

Steel Dynamics Inc. expects its third quarter earnings to be down from the second quarter as the Fort Wayne, Ind.-based steelmaker is seeing lower flat rolled earnings and pricing, as well as continued impacts from the start-up of its new sheet mill in Sinton, Texas. SDI’s earnings guidance is in the range of $4.93–4.97 per […] The post SDI Expects Lower Q3 Earnings, Continues to Be Impacted by Sinton Ramp-Up appeared first on Steel Market Update.

The following article on the hot-rolled coil (HRC), scrap and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week: Hot Rolled This futures market has no direction currently, summing up the sentiment in hot rolled as of late. After a slight index […] The post Hot Rolled Futures: Faulty Compass Leaves Market Participants Sidelined appeared first on Steel Market Update.

Steel Market Update sources report ferrous scrap prices declined by as much as $30 per gross ton in September, going against previous expectations that prices would remain stable or even increase. September marks the sixth consecutive month of declines since March–April’s record high prices. Prime scrap fell by $30 per gross ton from the month […] The post Scrap Prices Decline in September, Against Expectations appeared first on Steel Market Update.

US plate prices were unchanged this past week but remain under pressure. Spot demand is limited, with sources noting that Nucor’s efforts to keep prices flat might be short-lived. Recall that Nucor announced it would keep some plate prices flat and decrease certain cut-to-length items as much as $150 per ton ($7.50 per cwt) with the […] The post Plate Market Report: Prices Hold for Now, Decreases Expected appeared first on Steel Market Update.