Today’s hot rolled coil and ferrous scrap futures article is written by Bradley Clark, Director of Steel Trading at Kataman Metals. The market seems to have bottomed out with the CRU coming in at $640 yesterday. Positive sentiment has outweighed any negatives in the market with AK Steel recently announcing a price hike of $20/ton […]
Commercial Metals Company (CMC) reported net earnings of $34.9 million for its fourth quarter ending August 31, 2014. Net sales increased 12 percent year over year to $1.9 billion. For the full fiscal year 2014, net earnings were 115.6 million on net sales of 7 billion. In comparison, FY 2013 net earnings were 77.3 million […]
Ferrous scrap prices for October delivery into the domestic steel mills have so far this month declined by $10 to $20 per gross ton. Prices vary based on geographical region and product but our sources in Chicago advised us that their prices fell by $20 per gross ton on all products. We received the following […]
Ferrous scrap prices for shipment to the domestic steel mills around the country have been dropping since the negotiations began at the beginning of the month. For most geographical areas scrap prices have declined $15-$20 per gross ton compared to where they were at this point in time last month. Our Chicago area sources are […]
In the first eight months of 2014, scrap exports totaled 10,404,531 metric tons, down by 18.7 percent from the same period in 2013. In the single month of August exports were 1,575,716 tonnes, this was the highest volume month of the year, beating out May by 26,000 tons. Figure 1 shows that the three month […]
Below is an article on the Asian scrap markets from one of our contributing writers, Damon Sun of Daido International. The last few weeks were chaotic in the markets. Most Asian countries look to Taiwan for indications on market directions and a base for pricing. With the rapid decrease in prices in iron ore (abt […]
Ferrous scrap prices for October, which a couple of weeks ago were being forecast to move sideways (no change), are now looking as though they will drop $10 to $30 per gross ton. The Midwest and Southeast are expected to see the least price movement while those areas associated with exports (such as the East […]
The hot rolled coil (HRC) futures market has been very flat in terms of pricing over the past few weeks with the Q4 trading around $645, Q1 $650 and calendar 2015 around $645. All prices are very flat down the curve, indicating a slight decrease in pricing from current spot levels. Overall, good volumes have […]
The following report was prepared by Andre Marshall, CEO of Crunch Risk, LLC which is a company specializing in hot rolled, ferrous scrap and other “futures” contracts or financial derivatives. Today he discusses the broader financial markets, hot rolled steel futures (HRC), iron ore and ferrous scrap futures (BUS) trading on the CME. Andre Marshall […]
In the first seven months of 2014, total ferrous steel scrap exports totaled 8,828,815 metric tons, down by 20.6 percent from the same period in 2013. In the single month of July exports were 1,248,330 tons, down from June’s volume of 1,270,041 tons. May had by far the highest tonnage of the year, the July […]
Scrap dealers were a little surprised by the end of this past week as ferrous scrap prices remained stable instead of rising $10 per ton as many had anticipated. Steel Market Update wanted to understand what happened that resulted in a sideways market and here is what we learned from one of our East Coast […]
Steel Market Update (SMU) had been hearing that we should expect sideways scrap prices as we move into September. However, over the last couple of working days the signals are now pointing toward a strong sideways to slightly higher tilt to ferrous scrap pricing. We have heard numbers could go up as high as $10 […]
Pricing in the HRC futures market has continued slightly upward this week stemming from positive economic data and a bullish outlook within the steel industry. September prices have been trading around $655-667, October prices have been trading between $640-657, and Q4 has traded between $645-651, all about $5-10 improvements week on week. Further down the […]
Today’s hot rolled coil futures (HRC) article comes to us from Andre Marshall, CEO of Crunchrisk, LLC and our Managing Price Risk I & II instructor. In his article he will review the S&P 500, copper pricing, crude oil pricing, steel, iron ore and ferrous scrap futures trading: Well the S&P 500 reached its high […]
Ferrous scrap prices in the Midwest, Mid-Atlantic and East Coast have been moving sideways as the August negotiations come to a close. We are hearing from our scrap sources that the balance between supply and demand is quite good as flows have been solid and mill orders books are “decent.” Our scrap sources in Chicago […]
SMU’s latest ferrous scrap report from Damon Sun of Daido International shows heavy melt scrap holding firm at $350/mt. Scrap imports from the US to Taiwan appear to be on hold. He reports recently selling 5000mt at $343/mt CFR Taichung. Kaoshiung was buying late last week at $348/mt but then stopped buying. Scrap from Thailand […]
The HRC futures market has continued its upward trend in the past few weeks with recent bullish events in the physical market supporting prices. While nearby periods remain firm with August and September trading around $650-660, further down the curve cal 15 prices have trended upwards trading up to $643. Similarly, Q1 and cal 15 […]
The domestic steel mills are not canceling any remaining open July scrap orders which is an indication that the mills are busy, need the scrap and do not anticipate being able to buy scrap for less money in August than they did in July. SMU scrap sources are telling us demand is good and supply […]
Andre Marshall of Crunch Risk LLC has the honors this week to discuss the financial and HRC, iron ore and scrap futures markets in an attempt to make sense out of what can sometimes feel like total chaos. Financial Markets: Well we’re at all time highs again, having hit an intraday on the September S&P […]
Steel Market Update asked one of our Steel Summit Conference speakers, Mike Marley of MetalPrices.com to comment on why scrap prices moved lower as the month of July progressed compared to the early indications of higher ferrous scrap prices during the first few days of the month. Here is his response: There were a couple […]
The hot rolled steel futures market has perked up in the past few weeks with recent bullish events in the physical market supporting prices. After months of trading in a strong backwardation, prices on the nearby months July, August and September have pushed higher trading near parity with spot prices, between $650-665 per ton. Further […]
The following article on the Asian scrap markets was written by Damon Sun one of Steel Market Update contributing writers and an active participant in the Asian ferrous scrap markets: From last week onwards, the Far East Asian scrap markets have been weakening on the containerized sales, but the bulk scrap sales have insisted and […]
May ferrous scrap exports totaled 1,708,695 net tons (1,550,104 metric tons) with Turkey, Taiwan, Korea, Canada, and Egypt being the top five countries where scrap was sent. These countries accounted for 69.1 percent of all scrap exports. Total May ferrous scrap exports were 15.7 percent higher than previous month but 27.8 percent lower than the […]
Our ferrous scrap sources are advising Steel Market Update that June saw the bottom to scrap prices and July will see prices move sideways (no change) to as much as up $20 per gross ton. If scrap prices do indeed rise by as much as $20 per ton, this could be important for steel buyers […]
The HRC futures market has been stuck in a rut over the past couple of weeks in terms of both volumes and price volatility. The market remains backwardated with the spot price now at 670 and the July futures value around 650, Q3 630 and Q4 630. While prices in the physical market have softened […]
A reminder right up front that Steel Market Update will not publish on Thursday and Sunday evenings due to the 4th of July holiday here in the United States. We will return to our regular schedule beginning on Tuesday of next week. If, by chance, there is some breaking news which needs to be covered […]
Our ferrous scrap sources are advising Steel Market Update that June saw the bottom to scrap prices and July will see prices move sideways (no change) to as much as up $20 per gross ton. If scrap prices do indeed rise by as much as $20 per ton, this could be important for steel buyers […]
The HRC futures market has been stuck in a rut over the past couple of weeks in terms of both volumes and price volatility. The market remains backwardated with the spot price now at 670 and the July futures value around 650, Q3 630 and Q4 630. While prices in the physical market have softened […]
April ferrous scrap exports totaled 1,476,282 net tons (1,339,262 metric tons) with Turkey, Taiwan, Korea, Mexico, and China being the top five importing countries. These countries accounted for 73.2 percent of all scrap exports. Total April ferrous scrap exports were 0.7 percent higher than previous month and 36.7 percent higher than the same month one […]
The past few weeks have been dire for the futures market in terms of volumes or price volatility. While the physical market has peaked for now, the futures market remains in a strong backwardation with prices for second half the year and calendar year 2015 stuck between 620-630 per ton. While the global picture, particularly […]