BlueScope Steel said earnings at its North Star operations in Delta, Ohio, tumbled on lower steel prices in the six months of its fiscal year 2023. The Australian steelmaker reported underlying ebitda (earnings before interest, taxes, depreciation, and amortization) of $173.4 million in its 1H FY2023 at North Star, down 81% from $925.3 million last year, […]
By now, anyone who works in the steel industry understands how important sustainability is. Steel is the most recycled material in the world, and recycled steel is a prominent ingredient in electric-arc furnace (EAF) steelmaking. Steel Market Update’s final Spotlight of 2022 gets into sustainability with Philip Bell, president of the Steel Manufacturers Association (SMA), […]
Ferrous scrap prices increased from November to December, according to Steel Market Update sources, breaking the seven-month cycle of price declines. Buyers reported prime scrap prices increased roughly $30 per gross ton, while shredded prices rose $20 per ton. “Scrap prices are up a minimum $20-30 per ton this month,” reported one scrap executive. He […]
Ferrous scrap prices declined from October to November, marking the seventh consecutive month of falling prices, according to Steel Market Update sources. Buyers reported prime scrap fell as much as $30 per gross ton in some regions, while shredded prices were flat to down $20 per gross ton. Sources continue to attribute price declines to […]
A strong performance from its steel fabrication operations offset lower earnings within its flat rolled steel business, resulting in another strong quarter for Steel Dynamics Inc. The Fort Wayne, Ind.-based steelmaker and recycler reported net income of $914 million on sales of $5.65 billion in the third quarter ended Sept. 30. While sales were 11% […]
Steel Market Update sources report that ferrous scrap prices fell again in October. The drop marks the sixth consecutive month of declining scrap tags. Prime scrap prices fell an average of $45 per ton, while obsolete grades were relatively flat to down $25. Scrap sources attributed falling prices to weakening demand on both the domestic and […]
The following article on the hot-rolled coil (HRC), scrap and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week: Hot Rolled Hot-rolled (HR) futures participants market watch as they wait for signs that demand will return even as the dollar continues to […]
Steel Market Update sources expect ferrous scrap prices to be sideways to down in October, potentially the fifth consecutive monthly decline since the record highs seen earlier this year. Obsolete grades are anticipated to fall as much as $20 per gross ton or more, while prime scrap is expected to remain flat or slightly decline. […]
Growth is on the horizon for Commercial Metals Company (CMC). The Irving, Texas-based metals provider and recycler announced its acquisition of Advanced Steel Recovery LLC (ASR) in a press release on Sept. 15. In addition to supplying recycled ferrous metals, Rancho Cucamonga, Calif-.based ASR possesses processing and brokering capabilities with which they can procure material […]
Steel Market Update sources report ferrous scrap prices declined by as much as $30 per gross ton in September, going against previous expectations that prices would remain stable or even increase. September marks the sixth consecutive month of declines since March–April’s record high prices. Prime scrap fell by $30 per gross ton from the month […]
Steel Market Update sources expect ferrous scrap prices to be sideways or rise slightly going into September. The move would potentially end the four-month streak of declines seen since the spring’s record high tags. Obsolete grades are anticipated to remain relatively stable from August to September, while prime scrap is expected to increase $20-$30 per […]
Steel Market Update sources report ferrous scrap prices declined as much as $70 per gross ton from July to August, the fifth consecutive month of declines since March–April’s record high prices. Prime scrap fell by $70 per ton from the month prior, while obsolete grades declined $15–40 per ton. For the first time since late-2020, […]
Steel Market Update sources expect ferrous scrap prices to weaken further in August, potentially registering the fourth consecutive month of declines since March and April’s record high prices. Obsolete grades are anticipated to decrease around $30 per gross ton over July, while prime scrap is expected to ease marginally. “Despite what I think is slightly […]
Steel made by US electric arc furnace (EAF) producers emits 75% less carbon than steel produced by traditional blast furnace-based production. That’s according to an independent study conducted by Steel Market Update parent company CRU Group for the Steel Manufacturers Association (SMA). The results of that study were released today. Washington, D.C.-based SMA represents the […]
Steel Market Update sources reported ferrous scrap prices fell significantly in July, the third consecutive month of declines since peaking in March and April. Prime grades declined as much as $150 per gross ton, while obsolete grades decreased $30-50 per ton. Scrap prices are now in line with levels seen in the first two months […]
Steel Market Update sources expect ferrous scrap prices to fall again in July, the third consecutive month of declines since March and April’s record high prices. Both prime and obsolete grades are expected to decrease $50 per gross ton or more, with some saying prime could fall as much as $100 per ton. “The swiftness […]
Steel Market Update sources report ferrous scrap prices declined from May to June, dropping further from the record high prices seen in March and April. Prime grades declined between $55-75 per gross ton, with obsolete grades down $50-70 per ton. This puts the SMU price indices for scrap as follows: Busheling scrap at $600-670 per […]
Steel Market Update sources expect ferrous scrap prices to decline in June, following record high prices in March through May. Some expect prime grades to decline as much as $50 per gross ton from May, with obsolete grades down anywhere from $20-$50 per ton. “Markets are worsening by the day. It looks like there is continued […]
Steel Market Update sources report ferrous scrap prices fell $75-100 per gross ton in May, following record high prices in March and April due to the war in Ukraine. Heavy melt (HMS) was down nearly $100 per gross ton, whereas shredded and busheling prices were down $75 per gross ton. “Demand is okay, but there’s just too much supply […]
Steel Market Update sources report ferrous scrap prices fell $75-100 per gross ton in May, following record high prices in March and April due to the war in Ukraine. Heavy melt (HMS) was down nearly $100 per gross ton, whereas shredded and busheling prices were down $75 per gross ton. “Demand is okay, but there’s just too much supply […]
I hope the balance of the year turns out to be as good as steel mill and service center executives say it will be. I’ve covered a lot earnings reports and spent a lot of time on earnings calls over the last month. (It sometimes feels like the sun never sets on earnings season.) And […]
Flack Global Metals (FGM) adds Jennifer Betts as Sr. Vice President of Business Development. Betts will drive FMG’s business and development strategy to expand the company’s physical metals sales growth as well as its broad range of price risk management services offered Flack Metal Bank (FMB). “Jen brings a wealth of knowledge and experience to […]
Steel Market Update sources expect ferrous scrap prices to decline in May, following record high prices in March and April due to the Ukraine-Russia war. Some expect obsolete grades to decline significantly from April, with busheling prices potentially down as well. “Just looking at the export market makes me think US domestic will see significant drops for all […]
Ferrous scrap prices were mixed in April, with busheling up $75 per gross ton (GT), shredded scrap flat, and HMS down $20/GT. These were not the movements scrap experts had expected, with late March forecasts calling for obsolete grades up $50-$100/GT over March and busheling up $120-$200/GT. “April ferrous markets have settled and suffice it […]
BlueScope plans to buy Coil Coatings from Cornerstone Building Brands for $500 million to expand its presence in painted products in the eastern US. The Australian steelmaker – parent company of sheet producer North Star BlueScope in Delta, Ohio – said the deal would complement its existing coated products business on the West Coast. The […]
Steel Market Update sources expect ferrous scrap prices to rise yet again in April, with obsolete grades potentially up $50-$100 per gross ton over March and busheling up $120-$200 per gross ton. The big anticipated gains in April follow record price increases in March due to the Ukraine-Russia war. “I have to say, this is one […]
Fuel surcharges continue to march higher along with increased steel prices and ballooning costs for raw materials such as ferrous scrap and pig iron. Case in point: Wheeling-Nippon Steel’s fuel surcharge will increase to 24% effective with shipments on Monday, April 4. “The surcharge will continue to be added to the freight on all invoices […]
Fuel surcharges continue to march higher along with increased steel prices and ballooning costs for raw materials such as ferrous scrap and pig iron. Case in point: Wheeling-Nippon Steel’s fuel surcharge will increase to 24% effective with shipments on Monday, April 4. “The surcharge will continue to be added to the freight on all invoices […]
Nucor has increased the raw materials surcharge (RMS) for customers buying steel sheet on terms linked to scrap prices. The Charlotte, NC-based steelmaker said its RMS – based on prices for busheling scrap – would be $515 per ton ($25.75 per cwt) in April, a $190-per-ton increase from prior levels. The higher RMS will be […]
SSAB Americas has increased plate prices by $63 per ton ($3.15 per cwt) based on a raw materials surcharge mechanism unveiled last week. The Mobile, Ala.-based steelmaker said the higher prices would apply to all new spot orders as well as both new and existing contractual agreements effective April 3. The company reiterated that the […]