Tag: SMU

The following article discussing the global ferrous derivatives markets was written by David Feldstein. As an independent steel market analyst, advisor and trader, we believe he provides insightful commentary and trading ideas to our readers. Note that Steel Market Update does not take any positions on HRC or scrap trading, and any recommendations made by […] The post HRC Futures: There Looks to be a Rally on the Horizon, Might Be Time to Get Opportunistic 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 HR spot prices continue to trickle lower. June indexes have started out under $600/ST with Jun’19 HR futures trading in the […] The post Hot Rolled Futures: HR, Scrap Prices Continue Slow Decline appeared first on Steel Market Update.

Steel Market Update’s Steel Buyers Sentiment Index dipped below the +50 mark and continued to erode last month as the uncertainty over tariffs and trade had a negative effect on buyers’ attitudes. With OEM and service center executives feeling less positive about their prospects for the next few months, as indicated by SMU Future Buyers […] The post May at a Glance: Sentiment Sags appeared first on Steel Market Update.

With prime steel prices continuing to slide, market conditions for distributors of secondary steel are a bit discouraging. The cheaper the prime products, the less incentive for buyers to seek out deals on nonprime material. Nonprime or secondary steel includes coils that are rejected because they failed to meet the specifications for their original use, […] The post Margins Tight in a “Sluggish” Secondary Steel Market 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 The hot rolled steel market remains cautious but optimistic with domestic producer prices coming in at even larger discounts to foreign […] The post Hot Rolled Futures: Big Price Move Down Leads to Shifting Market Sentiment appeared first on Steel Market Update.

Ferrous scrap prices are down again in May by roughly $30 for obsolete grades and $40 for prime grades, report Steel Market Update sources. May marks the fourth month this year that has seen scrap prices decline. With the mills reportedly cranking out steel at over 80 percent of their capacity, the apparent weakness in […] The post Ferrous Scrap Prices Drop Again in May appeared first on Steel Market Update.

Ryerson President and CEO Eddie Lehner said he expected the price of ferrous scrap to fall by $20-30 per ton in May, not to fall to $230 per ton as reported in Thursday’s issue of Steel Market Update in an article on Ryerson’s quarterly conference call. Lehner was also misquoted in a comment that should […] The post Correction appeared first on Steel Market Update.

Coking coal, scrap and zinc prices have weakened in the last month.   Table 1 summarizes the price changes through April of the five materials considered in this analysis. It reports the month / month, 3 months / 3 months and 12 months / 12 months changes and tells us that at the three-month level only […] The post Raw Material Prices: Iron Ore, Coking Coal, Pig Iron, Scrap and Zinc 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: Finally some follow through lower in both steel and scrap futures prices. Should flattish forward curves be a concern? Steel The latest […] The post Hot Rolled Futures: Finally Some Follow Through appeared first on Steel Market Update.

By CRU Analyst Michelle Liu Turkish prices have continued to fall, down $7 /t w/w for the week ending Friday, April 12, to $305 /t CFR for HMS 80:20. Warmer weather has increased supply in the U.S. and Europe, placing downward pressure on scrap prices there. This was compounded by reduced scrap demand on both […] The post CRU: Scrap Price Falls Aided by Improved Supply appeared first on Steel Market Update.