All posts tagged Steel Prices

Steel Price Update

by admin on April 5, 2012
steel-price-updates

Two new updates for April -

Sideways US scrap pricing anticipated for March

After volatile price swings over the last four months, some US scrap buyers and sellers are anticipating sideways pricing in March.

With steady mill demand for scrap from February to March expected and without threat of weather disrupting scrap flows, market participants tell Steel Business Briefing scrap pricing is likely to remain flat in March compared to February.

US scrap lobby expresses concern over Russian restrictions

The American Scrap Coalition sent a letter to US Trade Representative Ron Kirk to bring attention to recently announced actions by the Russian government that will continue to inhibit the flow of steel scrap from the country.

“The purpose of this letter is to bring to your attention recent administrative measures by the Russian Federation that would restrict international trade in steel scrap,” the coalition wrote in a note reviewed by Steel Business Briefing. “These measures could deny the United States the benefits of commitments Russia has made in connection with its accession to the WTO.”


Steel Price Updates

by admin on December 12, 2011

US scrap market could be up $20/long ton in December

Steel BeamsSources in the US scrap market tell Steel Business Briefing to expect shredded scrap prices in December to be up at least $20/long ton, reversing a recent downward trend.

“It looks as if December will be up $20-30/l.t for all grades,” said one Mid-Atlantic region scrap dealer. “I don’t know why.”

S-based iron ore miner Cliffs Natural Resources announced Monday that it is cutting production at one of its five iron ore mines by nearly 50 percent, due to a major steelmaking customer shutting off a blast furnace for planned maintenance.

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Steel Price Updates

by admin on November 22, 2011

Steel BeamsScrap drop may not affect already lowered US plate pricing

The falling price of scrap may not lead to a further drop in the US price of plate, as the product has already steadily declined in price over the last six months.

The scrap benchmark price Nucor uses to set its raw material surcharge for longs and plate products dropped $30/long ton earlier this month. Nucor could raise its base price $30/short ton to offset the drop in the surcharge and keep prices flat.

Source: Steel Business Briefing

US scrap export prices to Turkey fall, but rise to the Far East

Turkish mills continue to pressure ex-US scrap prices lower, while scrap export prices from the US to the Far East are beginning to recover.

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Steel, Copper Price Updates – 10/25/2011

by admin on October 25, 2011

Schnitzer: Scrap markets still active despite price decline

Steel BeamsWhile ferrous scrap markets have become “cautious” in recent weeks with prices falling, prices are still strong overall, believes Tamara Lundgren, ceo of US-based Schnitzer Steel Industries. She was speaking on a conference call yesterday to discuss the company’s quarterly results; the call was monitored by Steel Business Briefing.

“Our customers have a need for scrap but they are watching world events and keeping inventories low,” she said.

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SDI execs see stable scrap market

Executives at minimill steelmaker Steel Dynamics Inc and scrap unit OmniSource say ferrous scrap will likely remain fairly stable this year, though they cautioned the scrap environment is still volatile and their outlook uncertain.

Speaking yesterday on a conference call to discuss third quarter results, Mark Millett, SDI president and coo, said he doesn’t anticipate any dramatic moves in scrap pricing unless there is an appreciable change in domestic steel mill utilization. The call was monitored by Steel Business Briefing.

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Steel Price Updates | 09/07/2011

by admin on September 7, 2011

Steel Beams

Baosteel predicts iron ore prices to stay high into 2012

Ma Guoqiang, president of Baoshan Iron & Steel – Baosteel Group’s listed arm – expects Chinese iron ore import prices to remain high for the fourth quarter of 2011 and throughout 2012.

Ma’s comment, contained in the company’s online communication with the shareholders on 31 August, reverses the prediction Baoshan Steel made in May that the global iron ore market would dip into oversupply this year.

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Deutsche Bank analysts see bottom in steel prices

by staff on June 29, 2011

United States Steel X +0.22% shares rallied as much as 6%, leading percentage gainers on the S&P 500 Index SPX +0.83% — something they haven’t done in a long time. The primary catalyst was a research note from Deutsche Bank analysts, who are calling a bottom in steel prices and raising their recommendations on US Steel and AK Steel Holding Corp. AKS -0.12% to buy from hold.


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