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 spot prices continued to fall this week breaking down through the $800/ST [$40/cwt] level. The HR futures followed suit. Futures […]
Ferrous scrap prices have risen for the second month in a row as November buys settled early at up $10 for prime grades and up $20 for obsoletes, report Steel Market Update sources. “Dealers and mills both wanted to wrap things up given that November is a shorter shipping month and they need to get […]
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 have been subdued the last week or so. With spot HR and the Oct’19 settle both pegged at $831/ST, the […]
Steel Market Update sources are expecting another $10-$20 per ton increase in ferrous scrap prices in November, much like the bump seen in October. “If there is a $10-$20 change, shredded scrap will be on the higher end, given typical seasonal slowdowns and lower scale prices,” said CRU North America Steel Analyst Ryan McKinley. Some […]
Table 1 summarizes the October prices of the five materials considered in this report and the month/month, three months/three months and year/year change. Price changes have been mixed. In the last three months, coking coal and iron ore have trended up as pig iron, scrap and zinc have trended down. This was the same pattern […]
In the last 12 months, the price of coking coal and scrap have continuously trended up, zinc has continuously trended down, and iron ore and pig iron have been erratic. Table 1 summarizes the price changes through November of the five materials considered in this Steel Market Update report. It includes the month/month, 3 months/3 […]
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 The mid-week spot price increase announcement by mills to $860/ST has curbed activity in the futures as participants try to digest the […]
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 The HR spot market has continued to decline, however we have a bit of a divergence as the HR futures curve prices […]
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 Due to the Monday UK bank holiday and the Atlanta SMU Steel Summit Conference this week, we had a slow start to […]
Ferrous scrap prices are likely to decline further in September after a modest drop in August, agree Steel Market Update sources. CRU Steel Analyst Ryan McKinley expects a drop of about $20 per ton across the board in September, driven primarily by an overhang of shredded scrap in the market and weak export demand. “There […]
Table 1 summarizes the August prices of the five materials considered in this report and the month/month, three months/three months and year/year change. In the last month, coking coal FOB Australia’s East Coast eked out a small gain as the other four experienced price declines. At the Jackson Hole meeting of the Fed on Friday, […]
Recent price changes have been mixed for steelmaking commodities. In the last three months, coking coal and iron ore have trended up as pig iron, scrap and zinc have trended down. Table 1 summarizes the September prices of the five materials considered in this report and the month/month, three months/three months and year/year change. Iron […]
Steel Market Update’s latest look at commodity prices shows pig iron up, iron ore and zinc down, and coking coal and scrap stable in recent trading. Table 1 summarizes the current prices of the five materials considered in this report and the year-over-year change. Iron Ore The price of 62% fines delivered North China was […]
The ferrous scrap market is showing small signs of weakness looking ahead to August, report Steel Market Update sources, who say prices on obsolete grades such as shredded and heavy melt are likely to decline anywhere from $5 to $20 per ton next month, while pricing of busheling and bundles will remain unchanged. Demand for […]
Scrap is trading lower in August. Steel Market Update sources in the ferrous scrap market report that the price of obsolete grades has declined by about $20 per ton and prime by $10 per ton. Weakness in foreign markets has reduced scrap exports, increasing the domestic supply. “Looking forward, I don’t expect prices to really […]
As of the first week of September, with the market still unsettled, ferrous scrap was expected to trend down for the month by another $20 per ton for obsolete grades and perhaps that much for prime, report Steel Market Update sources. On Friday afternoon, we did hear that prices settled in some of the markets […]
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 volumes rose sharply this week as decent volumes were traded in all months from Aug’18 through Jun’19. Over 72,000 […]
Steel Market Update ferrous scrap sources have advised us there was quick buying of July scrap early this past week. We understand that a Midwest-based EAF mill was buying early, taking prime grades such as busheling up $10 per ton while obsolete grades (HMS, shred) were bought at sideways pricing to June. Busheling, which along […]
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 During the holiday week in the U.S., the HR futures markets have been thin, especially on the buy side of the market. […]
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 While the HR indexes continue to grind higher in a somewhat non-linear fashion, the HR futures curve is reflecting an even […]
Most Steel Market Update sources expect prime scrap to increase by about $10 per ton in July, with the price of obsolete grades moving sideways. “Strong demand and lagging deliveries are the driving factors in the July market. Mills will be reluctant to cancel outstanding orders for fear of losing scrap to other mills and […]
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 We had a very volatile day in the ferrous metals markets today, saw strong price moves higher in HR futures on […]
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 of the end of January 2018, HR spot is up over $200/ST. Thus far in May, HR spot is hovering […]
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 continue to adjust to the continually changing narrative on global trade. While flat rolled steel demand has remained […]
Ferrous scrap prices have declined a bit in May, reported Steel Market Update sources, due to weakness in the export market and warmer spring weather that aided scrap collection and boosted supplies. Looking ahead to June, sources expect further change, but they disagree on the degree and direction. In the Ohio Valley, prices declined, but […]
Steel Market Update’s scrap sources expect ferrous scrap prices to drop by at least $10-$20 per ton in May, and possibly as much as $30-$40 per ton, as spring weather increases the scrap flows and boosts supply. Adding to the downward pressure on prices, they report, is weakness in the global market. One dealer in […]
Steel Market Update’s scrap sources expect ferrous scrap prices to drop by at least $10-$20 per ton in May, and possibly as much as $30-$40 per ton, as spring weather increases the scrap flows and boosts supply. Adding to the downward pressure on prices, they report, is weakness in the global market. One dealer in […]
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 spot prices continued higher this past week with prices reportedly trading in the mid $860’s. Meanwhile, in April thus far, […]
Stronger domestic demand for steel products, combined with feedstock and transportation problems, sent ferrous scrap prices on divergent paths in various parts of the country this month, reports scrap guru Mike Marley of World Steel Exchange Marketing. Tight supplies of key obsolete grades produced pricing moves ranging from unchanged for industrial steel grades in several […]
Ferrous scrap prices have risen at a greater rate than expected by sources quoted in Steel Market Update last month. Scrap guru Mike Marley of World Steel Exchange Marketing reports that recent price increases have varied by region to region, and even within a few regions. In the North, shredded and cut grades are up […]