Three weeks ago, the expectation for February ferrous scrap was for prices to be firm to slightly higher than January. This was due to rising prices on exports of ferrous scrap to Turkey, as well as cold weather in the north and large buys by the domestic steel mills as they restock after running inventories […]
The January buy period saw ferrous scrap prices move significantly higher, lending support to recent mill price increases. While February is historically a down month for scrap, sources predict that February prices will be as high or even higher than January’s. January ferrous markets ended higher by $30 per gross ton for obsolete grades and […]
Domestic steel orders are strong and flat roll prices are on the rise, which means demand from the mills is likely to push ferrous scrap prices higher in January. “All things are pointing up for ferrous scrap,” said a dealer in the Northeast. Obsolete grades should rise in higher proportions than primes, but all grades will […]
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 futures had a bit of a flurry early this week following the price increase announcements by a number of mills. […]
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 futures markets have paused post Thanksgiving. While the HR spot prices have retraced $27/ST in the month of November to approximately […]
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 It has been a relatively light volume week in HR futures as the recent push higher in prices has left the […]
When Steel Market Update (SMU) began talking to our ferrous scrap sources over the past couple of days, we got a variety of opinions as to where prices will go for the month of November. From the East Coast we heard sideways was the most likely direction with a little “slightly stronger” for prime grades […]
When Steel Market Update (SMU) began talking to our ferrous scrap sources over the past couple of days, we got a variety of opinions as to where prices will go for the month of November. From the East Coast we heard sideways was the most likely direction with a little “slightly stronger” for prime grades […]
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 As the HR index retreated to $598/ST[$29.90/cwt] this week, we saw further price declines of the nearby futures while the medium to longer-term […]
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 futures prices along the curve have been range bound this past week on modest trading activity. The quiet week could […]
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 With world commodity indices jumping higher HR futures price action has been relatively muted. A modest $10 move higher in the latest […]
The following article on the hot rolled coil (HRC) steel and financial futures markets was written by Troy Rossi of Crunch Risk LLC. Here is how Troy saw trading over the past week: Steel This week, HR futures markets continued to see price consolidation along the curve as HR futures prices have found some support […]
Ferrous scrap prices are up about $20 per ton across the board on strong domestic demand and scrap export markets “that are on fire,” say SMU’s scrap sources. One scrap metal processor with locations across the country reports HMS at $300, shred at $315 and busheling at $390 per gross ton for August delivery. Export […]
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 This week HR futures markets experienced continued price consolidation along the curve as HR futures prices continued to retrace lower from […]
Ferrous scrap prices are poised to rise in the NAFTA region for several reasons, says John Harris, CEO of Aaristic Services, Inc., and former director of Raw Materials for ArcelorMittal. Harris is part of a panel that will take a deep dive on commodities during the Steel Market Update Steel Summit Conference Aug. 28-30 in […]
Steel Market Update (SMU) spoke with steel trading companies and steel mills late last week in order to gauge the “mood” of the steel suppliers. We found a mostly composed group who are looking at business for the long term (although their customers may be more fickle depending on the news of the day). A […]
Steel Market Update (SMU) has been in contact with our scrap sources who are advising us ferrous scrap prices will move higher as we get into August negotiations with the steel mills. We have been hearing scrap will move by a minimum of $15 per gross to $25 per gross ton. “Ferrous grades will certainly […]
As expected, ferrous scrap prices traded sideways (July delivery to be the same as June) in most markets. Of course, having just said that, we do need to point out that the steel mills sourcing scrap from the East Coast had to pay $10 per gross ton more in order to keep scrap from moving […]
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 If you compare prices between last week and this week, you will see the HR futures market has found support and […]
John Harris is the former director of raw materials for ArcelorMittal. Currently, he is a consultant and speaker on global metallics, and he will be a speaker at this year’s SMU Steel Summit Conference at the end of August. Mr. Harris and Philip Hoffman of Hoffman Iron & Steel have been conducting a friendly debate […]
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 Lack of certainty in forecasting future HR business continues to create excess price volatility. Longer lead times along with slightly lower […]
Ferrous scrap pricing has solidified in most regions of the United States east of the Rocky Mountains. Scrap prices traded sideways (remained the same as last month) on prime grades such as bundles and busheling. Otherwise, shredded and obsolete grades saw declines of $10 to $15 per gross ton, according to Steel Market Update (SMU) […]
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 This week we had a big reversal/correction week on week as HR futures curve prices traded higher as buyers reached for […]
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 Flattening of HR futures curve due to decline in nearby futures prices generates heavy trading. It has been an active week […]
It is the first week of May and the negotiations between the long and flat rolled steel mills have been in full swing all week. By late today (Thursday) word of how the scrap dealers had fared has been coming into our offices. The first region to settle was Detroit which was up $10 on […]
SMU sources are expecting scrap prices to remain somewhat range-bound as the scrap dealers begin negotiations with the domestic steel mills for the month of May. Most dealers are forecasting May settlement prices to be within $10 per ton of what we saw in April and this can vary from region to region. We understand […]
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 With the exception of HR spot not much has changed this past month in the HR futures curve. When you compare […]
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 Interesting week in HR futures as spot retraced back to the mid $650/ST after moving higher the prior week. HR futures […]
Scrap dealers are pointing at the order book at the domestic mills as one of the main reasons why ferrous scrap prices inched back after the domestic mills initially pushed for shred and obsolete grades to be lower by $30 per gross ton. The mills could not get enough dealers to fill their scrap order […]
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 With HR spot hovering around $650/ST, HR futures prices declined in the latest week on modest trading volumes. Conflicting sharp price […]