Tag: Pig Iron

The pig iron markets have retreated over the last two months amidst a concerted effort by US-based buyers to drive down prices to more closely follow the lower domestic scrap prices.

SMU is pleased to share the latest news from the global pig iron markets from our sister publication, Recycled Metals Update.

Steelmaking raw material prices have moved in differing directions across August, a change of pace from the declines seen in June and July, according to SMU’s latest analysis.

The basic pig iron (BPI) market remains virtually unchanged despite perceived weakness in other ferrous materials, such as scrap, billets, HRC and iron ore.

SunCoke Energy Inc.’s earnings improved in the second quarter, with the company citing strong performances in its coke-making and logistics segments.

The prices for the July market weren’t settled until July 8 and now we are approaching the formation of the August market.

The majority of steelmaking raw material prices declined in June, following the same trend seen in May, according to SMU’s latest analysis.

There are a lot of rumors swirling around the steel market over the last couple of weeks. Chief among them was that we might see a price hike after Independence Day. Another concerns a key detail in the new Section 232 agreement with Mexico. Namely, steel imported from Brazil into Mexico. Of particular interest is its potential implication for slabs imported from Brazil, rolled in Mexico, and then exported to the US.

After celebrating the July 4th holiday, let’s have a look back at the first half of 2024.

Sources contacted by RMU have delivered a bleak forecast for the market’s direction in July, potentially extending into August.

This chart of the rolling second-month CME hot-rolled coil (HRC) future dating back to the start of 2022 has been as volatile as a herd of “Wild Horses.”

Steelmaking raw material prices have generally declined over the past month according to SMU’s latest analysis.

The conventional wisdom is that sheet prices will trend down for the next few weeks (maybe the next two months) before rising again in August – around when lead times stretch into the busier fall months. We see that reflected in our survey results and in market chatter. And there are plenty of data points to choose from if you want to support of that position.

Pig iron prices have been trending higher in all key markets besides Europe. Limited exports from Brazil and Ukraine are contributing to higher prices in the USA, though soft demand cushioned a sharp price upswing. In the US, pig iron prices increased by $15 per metric ton (mt) m/m to $485/mt CFR NOLA. Buying activity […]

Steelmaking raw material prices have moved in different directions over the past month, according to SMU’s latest analysis.

Earlier this month, steelmakers entered the scrap market at mixed pricing. The prevailing price for obsolescent grades fell $20 per gross ton (gt). However, some notable districts decided to only drop $10/gt.

As we approach “buy week,” a term industry veterans use to refer to steel mill scrap buying time and an excuse to remain in the office, we have seen a variety of slants on the May market.

Hybar has big plans for entering the American steel market. Although it is the newest player in the US rebar market, the startup is led by an experienced, nimble, and ambitious team, and backed by investors with deep pockets. Industry titan and Hybar CEO David Stickler joined SMU Managing Editor Michael Cowden on Wednesday’s Community Chat to update the SMU community on the company’s first mill, and its grand plans for the future.

SunCoke's earnings soared in the first quarter, with the company citing strong performances in its cokemaking and logistics segments.

We've used the word "unprecedented" a lot over the last four years to describe steel price volatility. Over the last two months – despite earlier predictions of a price surge - we've seen unprecedented stability.

Prices of steelmaking raw materials have moved in different directions over the last 30 days, according to Steel Market Update’s latest analysis.

Does the price of ferrous scrap depend on the price of finished steel product? And how much of an influence do billet and slab prices have on scrap prices?

As the ISRI 2024 conference unfolds in Las Vegas, attendees are diving into crucial discussions shaping the future of the recycling industry. Here are the main topics being discussed: New steelmaking capacity coming online this year Export demand during this period Infrastructure spending Supply of pig iron and HBI Current logistics challenges May scrap prices […]

On the eve of the April ferrous scrap buy, there is no firm consensus on the market’s direction. The safe predictions are “soft” sideways to “strong” sideways. That may mean down $10 per gross ton (gt) to up $10/gt.

You might have noticed that SMU has been publishing more articles about scrap in recent months. That was no accident. In fact, we’ve found enough of an audience that CRU, our parent company, has decided to launch a new publication – Recycled Metals Update, or RMU. It cover both ferrous and nonferrous scrap. RMU’s website is here. You can go there now and request a 30-day free trial. It’s that simple.

There is growing hope that the US scrap market has bottomed, according to industry sources. The steep price declines in March may have ushered in a floor because dealers say their stocks are a bit depleted. Their concern: that the flow of obsoletes could be cut severely with any further drop in prices. Is this wishful thinking, or do the fundamentals support the prediction of a market bottom? Let’s take a look!

Prices for pig iron in Brazil have increased despite efforts by US-based buyers to lower them. 

As the month of March goes into the second half, the scrap community is trying to cope with the large drop in ferrous scrap earlier this month.

Prices of most steelmaking raw materials have moved lower over the last 30 days, according to Steel Market Update’s latest analysis.

The ferrous scrap market experienced a sharp decline for March shipments. Prime scrap fell $60-70 per gross ton (gt) while shredded and other obsolete grades declined $40-50/gt. It seems these prices were accepted in the trade by dealers across the continent.