Tag: Steel and Scrap Prices

The United Auto Workers (UAW) union has more leverage than the Detroit Three automakers in the current strike that started Sept. 15, according to Jason Schenker, president of Prestige Economics.

U.S. Steel expects earnings to drop in the third quarter vs. the prior quarter and the same period a year earlier as the company adjusts production because of the United Auto Workers (UAW) union strike.

The spread between hot-rolled coil (HRC) and prime scrap prices continued to narrow this month, according to Steel Market Update’s most recent pricing data.

Nucor expects third-quarter earnings to be lower sequentially and on-year, the steelmaker said in earnings guidance on Thursday.

Domestic scrap prices for shredded and HMS were sideways in September vs. August. However, busheling fell precipitously during the month, according to scrap sources surveyed by SMU.

As the deadline for a United Auto Workers (UAW) strike nears, the vast majority of market participants polled by SMU expect union workers will strike.

Turkish scrap import prices have remained relatively stable over the past two weeks due to slow trade activity. This was partly due to the holiday on August 30. CRU’s latest price assessment for HMS1/2 80:20 is $368 /metric ton CFR, up $1 /metric ton week-over-week (WoW) and up $21 /metric ton month-over-month (MoM). The holiday […]

Scrap sources had a mixed outlook for US scrap prices for September.

The spread between hot-rolled coil (HRC) and prime scrap prices narrowed further in August, according to Steel Market Update’s most recent pricing data.

Sheet prices slipped for the third consecutive week on continued discounts from certain mills for larger buyers.

August could see US scrap prices stabilizing, or even rising, depending on the grade or region, scrap sources told SMU.

Hot-rolled coil prices remain rangebound between roughly $850-900 per ton ($42.50-45 per cwt), according to our latest market check. You could say that’s not news. Our HRC index settled at $870 per ton on Tuesday afternoon. A week-over-week decline of $20 per ton from $890 last week might be little more than noise. You’d want to […]

The spread between hot-rolled coil (HRC) and prime scrap prices continued to narrow in July, according to Steel Market Update data. SMU’s average HRC price rose this week, while busheling scrap tags fell. Our HRC average price rose $10 per net ton week over week to $890 per ton ($44.50 per cwt) as of Tuesday, July 11.  Busheling tags, […]

The spread between hot-rolled coil (HRC) and prime scrap prices narrowed further in June, according to Steel Market Update data. Both the averages of SMU’s HRC and busheling scrap prices slipped this week. Our HRC average fell $5 per net ton week-over-week to sit at $930 per ton ($46.50 per cwt) as of Tuesday, June 13.  Meanwhile, after settling, […]

The spread between hot-rolled coil (HRC) and prime scrap prices narrowed in May from April after having widened since the beginning of the year, according to Steel Market Update data. Both SMU’s hot-rolled coil price average and busheling prices dropped this week. Our hot-rolled coil average slipped $15 per ton week over week to $1,105 per ton ($55.25/cwt) […]

The spread between hot-rolled coil (HRC) and prime scrap prices has widened again in April from March, though much smaller than last month’s number, according to Steel Market Update data. Both SMU’s hot-rolled coil price average and busheling prices dropped this week. Our hot-rolled coil average slipped $15 per ton week-over-week to $1,145 per ton ($57.25 per cwt) as […]

The spread between hot-rolled coil (HRC) and prime scrap prices has widened significantly in March as both products saw large price gains, according to Steel Market Update data. With a flurry of recent price increases, our hot-rolled coil price average jumped $25 per ton week over week to $1,140 per ton ($57 per cwt) as of March 21.  […]

The spread between hot-rolled coil (HRC) and prime scrap prices has widened in February, according to Steel Market Update data. Prices for both products increased in February month over month.  Our hot-rolled coil price average rose $15 per ton week over week to $825 per ton per net ton ($41.25 per cwt) as of Feb. 14.  […]

The spread between hot-rolled coil (HRC) and prime scrap prices has remained relatively flat vs December levels, according to Steel Market Update data. Prices for both products rose in January vs. the end of 2022.  Our hot-rolled coil price average ticked up $5 per ton week over week to $740 per net ton ($37.00 per cwt) as […]

The spread between hot-rolled coil (HRC) and prime scrap prices is narrowing for the second consecutive month, according to Steel Market Update data. Prices for both products increased in December, following five consecutive months of declines. The latest HRC-prime spread is one of the lowest recorded in more than two years. The spread is now back […]

Is the market at a bottom or not? Cleveland-Cliffs and US Steel have each announced price hikes of $60 per ton ($3 per cwt). And we’re told other mills might follow. If this isn’t a bottom, it sure looks like domestic mills are trying to create one with a floor of ~$600 per ton for […]

The spread between hot-rolled coil (HRC) and prime scrap prices has begun to narrow again after three months of stability, according to recent Steel Market Update data. Prices for both products continue to move lower, as they have most weeks since May. The latest HRC-prime spread is exactly one-fourth of what it was this time […]

SMU has released its latest full survey results, and I want to highlight some big changes that we’ve seen in the data compared to just two weeks ago. Chief among them is what appears to be a big shift in service center pricing and buying patterns. We had seen most service centers trying to hold […]

The relationship between hot-rolled coil (HRC) and prime scrap prices has stabilized in the last few weeks, according to Steel Market Update data. After briefly stalling in August, hot rolled prices have began to slide downwards again since the beginning of this month. Busheling scrap prices settled at down $45 per gross ton last week, the […]

Time for a contrarian, optimistic thought experiment. First the bad news: Sentiment is increasingly bearish on months of falling steel and scrap prices, nearly all respondents to our latest survey report that mills are willing to negotiate lower still, and flattish lead times provide paltry evidence for a rebound. A quick check of the headlines […]

Supported by high finished steel and scrap prices, Schnitzer Steel Industries Inc. expects its results for full-year fiscal 2022 to be the second best in the company’s history. This week, the Portland, Ore.-based scrap recycler and long steel producer announced its preliminary results for the fourth quarter and fiscal year ended Aug. 31, 2022. Although […]

The spread between hot-rolled coil (HRC) and prime scrap prices has changed course in recent weeks, according to Steel Market Update data. Busheling scrap prices declined for the fifth consecutive month in September, while hot-rolled prices have levelled out in recent weeks. Overall, we had seen a shrinking delta between the two products from May […]

The spread between hot-rolled coil (HRC) and prime scrap prices continues to narrow, according to Steel Market Update data. Busheling scrap prices have declined each of the last four months, as have hot-rolled prices – but at a greater rate than scrap. The result: a shrinking delta between the two products. The latest spread is one-third what […]

The spread between hot-rolled coil (HRC) and prime scrap prices is back on the downward trend seen prior to the Russia-Ukraine war, according to Steel Market Update data through this week. The HRC-scrap spread peaked last September, falling to an 18-month low in early March and briefly rebounding through May. The latest spread is nearly […]

The spread between hot-rolled coil (HRC) and prime scrap prices is resuming the downward trend seen prior to the Russia-Ukraine war, according to the latest Steel Market Update data. The HRC-scrap spread reached an 18-month low in early March. The latest spread, calculated through June 14, is less than half what it was this time last year […]