As expected, ferrous scrap prices for March settled up $50 per ton for obsolete grades and up $70 per ton for prime grades in most parts of the U.S., reported Steel Market Update sources. April scrap is likely to remain relatively unchanged. “Looking forward, I don’t see downside for prime grades in April. Depending on […] The post March Scrap Settles Up $50-70/GT appeared first on Steel Market Update.
Ferrous scrap prices have traded flat to down in April following a big jump in March. Steel Market Update sources report the price for obsolete grades down $20/GT, while prime grades traded sideways. The price for shredded scrap is about $430/GT delivered to the mills in the Midwest and South. Prime grades are around $130-140 […] The post Ferrous Scrap Prices Trade Flat to Down in April appeared first on Steel Market Update.
Obsolete scrap prices are widely expected to decline in April, while prime scrap prices move sideways, predict Steel Market Update sources. Ferrous scrap prices saw a big jump in March, adding to the upward momentum on finished steel prices, but the April effect is shaping up to be more moderate. “Growing obsolete scrap availability caused […] The post Price for Obsolete Scrap Expected to Dip in April appeared first on Steel Market Update.
With negotiations still ongoing this week, it appears ferrous scrap prices will see a big jump in March, as was widely expected. Steel Market Update sources reported that scrap pricing announced in Detroit today was up $70 per ton on prime grades and up $50 per ton on obsoletes. Other regions of the country are […] The post March Scrap Up $50-70 in Detroit appeared first on Steel Market Update.
With negotiations still ongoing this week, it appears ferrous scrap prices will see a big jump in March, as was widely expected. Steel Market Update sources reported that scrap pricing announced in Detroit today was up $70 per ton on prime grades and up $50 per ton on obsoletes. Other regions of the country are […] The post March Scrap Up $50-70 in Detroit appeared first on Steel Market Update.
Steel prices continued their upwards climb in the month of February, fueled by strong demand and tight supply. Hot rolled steel prices surpassed $1,200 per ton in the third week of the month, reaching levels never before seen. Steel Market Update’s hot rolled price index reached $1,210 per ton by the end of February, up […] The post SMU’s February At-a-Glance appeared first on Steel Market Update.
Steel prices took another bite out of the record books in March. The advent of March shows flat rolled and plate steel prices are still roaring upwards, with hot rolled hitting another record high of $1,240 per net ton, according to Steel Market Update’s check of the market this week. Prices generally moved up in […] The post SMU Price Ranges & Indices: March Steel Prices Come in Like a Lion appeared first on Steel Market Update.
John Packard founded Steel Market Update in 2008 after spending 31 years actively selling steel in the service center, steel mill and trading company segments of the industry. He is currently President & CEO of Steel Market Update which was sold to CRU in 2018. Steel Market Update is a leader in collection of market […] The post SMU CEO Discusses Clean Steel & More appeared first on Steel Market Update.
SMU contributor Tim Stevenson is a partner at Metal Edge Partners, a firm engaged in Risk Management and Strategic Advisory. In this role, he and his firm design and execute risk management strategies for clients along with providing process and analytical support. In Tim’s previous role, he was a Director at Cargill Risk Management, and […] The post HRC Futures: Down, But is There More to Go?” appeared first on Steel Market Update.
“Life at Cleveland-Cliffs has been intense,” said CEO Lourenco Goncalves, referring to a pandemic-challenged year in 2020 and major changes to what just one year ago was an iron ore company. “Without question, 2020 was the most transformational year in our company’s 173-year history,” said Goncalves. “We completed two seminal acquisitions, AK Steel and ArcelorMittal […] The post Goncalves: 2020 was a “Transformational Year” for Cleveland-Cliffs appeared first on Steel Market Update.