By CRU Principal Analyst Chris Asgill, from CRU’s Global Steel Trade Service Scrap prices have surged over the past month, with import prices up $50-90 /t m/m. Turkish prices have gained the most significant ground, though were below Asian prices a month ago. At the time of our assessment last week Turkish prices were approaching $400 /t […]
Both steel and scrap prices decreased in the month of April, down anywhere from $15 to $75 per ton between each product, as the effects of the coronavirus shutdowns impacted the market. SMU Buyers Sentiment Index readings showed significant declines over March, with Current Sentiment sliding into negative territory and reaching a low of -8, […]
By CRU Senior Analyst Ryan McKinley, from CRU’s Steel Metallics Monitor The CRU metallics price indicator (CRUmpi) rose slightly by 1.3 percent m/m to 206.4 (see chart). While this is broadly stable it bucked the trend compared to steel markets, which came under relatively more price pressure. Structurally, most markets were similar in condition to […]
Both steel and scrap prices increased in the month of January, raising with them optimism levels over market conditions one month into the new year. The average price for hot rolled steel rose by about $30 per ton in January. The benchmark price for hot rolled peaked at $610 per ton in mid-January, but ended the […]
Worthington Industries reported net sales of $958.2 million for its fiscal 2019 second quarter ended Nov. 30, a 10 percent increase over the same quarter in fiscal 2018. However, its quarterly earnings were not as strong. Operating income totaled $35.9 million, a decrease of $16.2 million from the prior-year quarter. “I am pleased with the […]
Steel Dynamics Inc. reported high levels of steel import and customer inventory reduced shipments for first quarter resulting in a 44 percent drop in consolidated operating income compared to fourth quarter. SDI adjusted net income was $40 million for first quarter 2015 with $2 billion in net sales. The adjusted income excludes $17 million in […]
The domestic steel mills and their ferrous scrap suppliers traditionally negotiate pricing on scrap to be delivered during the first few days of the new month. This means the mills and their suppliers are deep into negotiations regarding February scrap purchases right now. Last week the word amongst the “scrappies,” as well as their mill […]
The most recent price increase announcement out of the domestic steel mills was made late last week by AK Steel. A copy of the announcement is below. Steel Market Update finds it interesting and advises our members to be careful since AK Steel has continued to be “reasonable” regarding price negotiations for orders being placed […]