Tag: SMU

The following article on the hot rolled coil (HRC) steel and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week: Steel This month HR physical prices as reflected by the index basically started at $560/ST and rose $20-plus to hold, then fell […] The post Hot Rolled Futures: Uncertain Times Pushing HR Futures Volatility Higher appeared first on Steel Market Update.

Steel prices saw further declines this week, but not a dramatic collapse. The benchmark price of hot rolled now averages around $560 per ton, down $5 from last week and down $50 from the mid-January high of $610. Most of the steel buyers responding to Steel Market Update’s check of the market this week expect […] The post SMU Market Trends: Buyers Ponder Their Prospects in the Virus Crisis appeared first on Steel Market Update.

Raw materials prices are poised for a rapid decline as the dollar strengthens and the global economy slumps.   Table 1 summarizes the price changes through March 18 of the five materials considered in this analysis. It reports the month/month, 3 months/3 months and 12 months/12 months changes on a percentage basis. This is likely our […] The post Raw Materials Prices: Iron Ore, Coking Coal, Pig Iron, Scrap, Zinc appeared first on Steel Market Update.

Global scrap trade has been trending down for two years and in Q4 2019 the U.S. share increased to 26.8 percent, the highest since Q1 2013. This is a quarterly analysis using data from the Iron and Steel Statistics Bureau (ISSB) in the UK. Some nations are slow to report, which results in the analysis […] The post Global Scrap Market: U.S. Share Increases appeared first on Steel Market Update.

U.S. automakers are suspending production for nearly two weeks to help stop the spread of COVID-19. Ford, General Motors and FCA announced on Wednesday that they will stop all production in North America starting Thursday evening and tentatively ending March 30. “GM and the UAW have always put the health and safety of the people […] The post U.S. Automakers Suspend Production appeared first on Steel Market Update.

Steel prices are as unpredictable as the spread of a rogue virus, but one symptom of COVID-19 is likely to be lower steel prices. As of this writing on March 13, the price of flat rolled steel products had yet to see much effect from the global panic over the coronavirus. Steel Market Update’s latest […] The post What Will the Coronavirus Do to Steel Prices? appeared first on Steel Market Update.

By CRU Senior Analyst Ryan McKinley, from CRU’s Steel Metallics Monitor The CRU metallics price indicator (CRUmpi) rose slightly by 1.3 percent m/m to 206.4 (see chart). While this is broadly stable it bucked the trend compared to steel markets, which came under relatively more price pressure. Structurally, most markets were similar in condition to […] The post CRU: Global Metallics Prices Hold, But Major Downside Risks Grow appeared first on Steel Market Update.

Ferrous scrap prices surprised to the low side in March, trading sideways to up just $10 per ton, well below initial expectations of up $10-30/GT. The mills were anticipating that higher scrap prices this month would lend support to the $40 increase in finished steel prices they announced last week. “In the Ohio Valley, obsolete […] The post Ferrous Scrap Prices Surprise to the Low Side in March appeared first on Steel Market Update.

The following article on the hot rolled coil (HRC) steel and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week: Steel In the midst of a fairly volatile news cycle in the last month with the COVID-19 virus stealing the headlines, the […] The post Hot Rolled Futures: How Much Slowing to Expect from Global Supply Chain Disruptions? appeared first on Steel Market Update.

Steel Dynamics has agreed to acquire 100 percent of the equity interest of ferrous and nonferrous scrap metal recycler Zimmer, S.A. de C.V. The Monterrey, Mexico, operations will support raw material procurement for Steel Dynamics’ new Texas flat rolled mill. Zimmer operations consist of six scrap processing facilities located near scrap-rich industrial areas in Central […] The post SDI to Acquire Mexican Scrap Recycler appeared first on Steel Market Update.