Tag: SMU

Written by Senior Analyst Ryan McKinley. More in-depth regional analysis found in CRU’s Metallics Monitor. The CRU metallics price indicator (CRUmpi) fell by 8.9 percent m/m to 203.7 (see chart) following price falls in nearly every market. Supply outpaced demand due to mild winter conditions in much of the northern hemisphere. Key exceptions were Russian scrap and ore-based […] The post CRU: Mild Winter Creates Scrap Supply Surplus Amid Covid-19 Outbreak appeared first on Steel Market Update.

Ferrous scrap prices for February are down around $20-30/GT for obsolete grades and $10-20/GT for prime grades, report Steel Market Update sources, adding to the downward pressure already being felt on finished steel prices. “This price trend is in line with the 10-year average price movement for February,” said CRU Senior Analyst Ryan McKinley. “Buying […] The post Ferrous Scrap Prices Move Lower in February appeared first on Steel Market Update.

John Packard is traveling… Steel Market Update changed its Price Momentum Indicator from Higher to Neutral today. Not that steel prices couldn’t start inching upward once again in the coming weeks. It’s just that the direction is unclear and we need to wait and watch for the next trend to reveal itself. Lead times aren’t […] The post Final Thoughts appeared first on Steel Market Update.

Both steel and scrap prices increased in the month of January, raising with them optimism levels over market conditions one month into the new year. The average price for hot rolled steel rose by about $30 per ton in January. The benchmark price for hot rolled peaked at $610 per ton in mid-January, but ended the […] The post SMU’s January At-a-Glance appeared first on Steel Market Update.

Prices of all five of the raw materials considered in this report advanced in the last month.   Table 1 summarizes the price changes through Jan. 22 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. All five materials had a […] The post Raw Materials Prices: Iron Ore, Coking Coal, Pig Iron, Scrap, Zinc appeared first on Steel Market Update.

Looking ahead to February, Steel Market Update sources predict ferrous scrap prices will decline by $10-20/GT, which has implications for finished steel prices next month. February is the shortest month of the year, so buying programs will be somewhat weaker, said CRU Senior Analyst Ryan McKinley. “It looks like the February scrap market will trade […] The post Ferrous Scrap Prices Expected to Decline in February appeared first on Steel Market Update.

By CRU Analyst Chris Bandmann, from CRU’s Steel Long Products Monitor Europe: Germany has not seen any significant snowfall yet this winter, and these mild conditions had the potential to support the continuation of construction activities. Construction companies entered their holidays regardless, however, and steel demand has settled into a seasonal low point. Even so, […] The post CRU: European Longs Producers Brace for Scrap Price Fall appeared first on Steel Market Update.

2019 was a challenge for steel suppliers, with both demand and pricing on a downward slope for the first three quarters of the year. Although it’s still early, there are signs 2020 could prove to be a better year for the steel industry. Steel mills, and the service centers that process and distribute their products, […] The post Steel Market Update: Will 2020 Be a Better Year for Steel? appeared first on Steel Market Update.

Ferrous scrap prices are up another $20-30/GT in January, on top of similar increases the prior two months, lending support to the finished steel price increases announced this week. Sources put January scrap prices around the following: Shred, $315-330; HMS, $270-275; Bush, $320; and Plate, $285- $310 per ton. Scrap prices typically rise in January […] The post Ferrous Scrap Prices Rise Another $20-30 Per Ton in January 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 by 5.9 percent m/m to 223.5 (see chart) following price increases in nearly every market, the highest level since August 2019. Solid scrap demand has offset better than seasonally typical supply due to mild winter weather in the Northern Hemisphere. […] The post CRU: Scrap Demand Remains Strong During Mild Winter appeared first on Steel Market Update.