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Archives: Steel Prices

RMDAS US scrap price index mostly up for August

An index compiled by Management Science Associates (MSA) shows significant price increases in August for two of the three grades it tracks.

On average, MSA’s RMDAS (Raw Material Data Aggregation Service) shows prices changing from July(on a delivered-mill basis) by as little as a $3/long ton decrease, to as much as a $28/l.t increase.

US scrap market apparently strengthening for August

US scrap market apparently strengthening for August

US scrap sources tell Steel Business Briefing the market for August appears to be heading slightly upward, at least tentatively, following several months of declining prices.

“There is no question that the market is firming and will be up $10 to $20 a long ton in August – but (it’s) not a real up market,” said one source on the US west coast.

Source: Steel Business Briefing

Scrap prices could strengthen in coming months

DJJ head says scrap prices could strengthen in coming months

After falling in the second quarter, scrap prices appear to have temporarily bottomed and may even be heading upward, according to Keith Grass, CEO of Nucor’s scrap unit, David J Joseph (DJJ).

Speaking during a quarterly earnings call yesterday, Grass said flows into company scrap yards appear to have declined 25 to 30%. Inquiries from the export market have picked up, he said, something that had been absent for the last 30-45 days.

Courtesy: Steel Business Briefing

SDI chief doesn’t envision rising scrap prices

Steel Dynamics Inc CEO Keith Busse doesn’t believe US scrap prices will be up in August, he told investors and analysts yesterday on a quarterly conference call monitored by Steel Business Briefing.

Due to a weak export picture and declining steel prices, he said “you’re not going to see any strength in August in ferrous resources.” However, Busse said he believed prices could begin to rise by early September. He added he’s not sure by how much, but doubted they could increase by $20-30/long ton, as some in the market have speculated.

Source: Steel Business Briefing

Falling scrap prices likely dragging down US longs market

Declining scrap prices are expected to drag down US longs prices with them, Steel Business Briefing understands.

A source at one domestic beams producer predicted yesterday that prices for delivery of that product next month would fall along with the decline in scrap by $20-40/short ton.

Source: Steel Business Briefing

August US scrap surcharge benchmark down

August US scrap surcharge benchmark down $45/l.ton

A key scrap price that determines surcharges for August deliveries of many steel products in the US market fell by $45 – from $350 to $305 per long ton, Steel Business Briefing learns.

As SBB has previously reported, scrap market players had been expecting a drop in scrap prices due to especially weak export demand.

Source: Business Briefing

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