Market Data
July 7, 2014
Written by Brett Linton
Steel price inputs were mixed during the month of June. Shredded and heavy melt scrap prices declined $8 and $4 per ton respectively while busheling scrap prices increased by $3 per ton. Iron Ore prices increased for 62% Fe grades but decreased for 58% Fe. Zinc and Aluminum prices showed a slight increase of $0.0437 to $0.0274 per pound.
Plate market participants expect domestic producers to issue a $40-60 per short ton (st) price increase.
The Dodge Momentum Index (DMI) fell 6.2% in January to 272.7, retreating from December’s downwardly revised reading of 291.0, according to the latest data released by Dodge Construction Network.
Baker Hughes' latest rig count report shows oil and gas drilling picked up in the US this week, but slowed in Canada. Oil drilling in both countries is down from last year, while gas drilling has picked up, mainly in the US.
SMU’s Steel Buyers’ Sentiment Indices both edged lower this week following the multi-month highs set in mid-January.
November apparent steel supply declined 9% or 772,000 short tons (st) from October to 7.61 million st, the lowest measure recorded since February 2021