The one other area bearing watching is the spot iron ore market in China. Based on recent TSI numbers 62 percent Fe fines were referenced at $158.5/dmt as of January 8th. Over the past four weeks, 62 percent fines have risen by 27 percent and are almost double their fifty-two week lows of $86.7/dmt. Our […]
Written by: Sandy Williams Schnitzer Steel, one of the largest U.S. manufacturer and exporter of recycled ferrous materials, reported adjusted operating income of $3 million for the first quarter of 2013, a drop of 81 percent from $15 million reported in first quarter 2011. The adjustment reflected a $2 million pre-tax restructuring charge associated with […]
Financial Markets Who knew it was so easy, all the Republicans had to do was to agree to over $600 bln in tax increases, kick the can down the road on spending cuts by 2-3 months and voila!; No Fiscal Cliff! And with that the markets were off. The SP has gained 60 points in […]
The month of December was best illustrated by the SMU Price Momentum Indicator which spent the entire month stuck in Neutral as flat rolled spot prices essentially moved sideways through the month. Whether using our index or the CRU price assessments, the monthly average on hot rolled was very close to where prices were measured […]