There has been sustained export activity from the US on both the East and West Coasts. Prices have continued to rise, influenced by several factors, including elevated freight costs and firming markets in exporting countries.
President Trump announced that Mesabi Metallics will build the largest steel plant in the US in the state of Iowa.
Cleveland-Cliffs Inc. has confirmed a fatal accident occurred at its Monessen coke facility on Sunday, but said production has not been impacted.
Alter Trading Corp. has purchased the operating assets of Iron and Metals Inc., located in Denver.
ArcelorMittal told the government of Ukraine that it is unable to restart operations at its ArcelorMittal Kryvyi Rih steel plant in a “safe and sustainable manner” following Russian missile attacks.
The import market for pig iron may have bottomed out, according to sources in Brazil.
Mesabi Metallics is considering building a direct-reduction iron (DRI) plant as its Minnesota Iron Range iron ore mine and pellet plant begin startup, according to local reports.
The US Department of Commerce has preliminarily determined that critical circumstances exist in the countervailing duty (CVD) investigation of imports of large-diameter graphite electrodes (LDGEs) from China.
The scrap market for October is looking for direction as some participants on both sides of the furnace are indicating scrap prices are poised for an increase.
Every month, SMU polls participants in the ferrous scrap market on a variety of topics. These include prices, business conditions, and tariffs, among others.
SMU’s Current and Future Scrap Sentiment Indices fell in September, according to the latest data from our ferrous scrap survey.
The spread between domestic hot-rolled (HR) coil and prime scrap prices continued to widen in September. It is now up for a 12th straight month, and at the widest gap since January 2022.
The prices for export scrap from the US East Coast jumped by $5 per metric ton (mt) on recent sales.
Ohio-based GrafTech International announced it will raise graphite electrode prices by at least 30%. The increase is effective immediately for all open commercial negotiations, the company said in a statement on Tuesday.
SMU’s September ferrous scrap market survey results are now available on our website to all premium members.
SMU’s September scrap prices for shredded and HMS came in sideways, with busheling tags increasing slightly.
The market activity for pig iron imports in the US has been limited recently. However, there have been two cargoes transacted from Brazil as well as continuing imports from India.
Ferrous scrap prices have landed largely sideways this month, sources told SMU. The market quickly settled on Wednesday as 90% of the buying concluded, according to sources in several districts. It appears steelmakers decided there was no point in possibly disrupting flows with their strong forward order book and exceptional spreads between finished steel and current scrap costs.
GrafTech International Ltd. plans to permanently close its graphite electrode manufacturing facility in Monterrey, Mexico. The closure will happen in phases, with production expected to end early in the second quarter of 2027.
Ferrous scrap prices could be poised for a sideways move in September as supply and demand are seemingly in reasonable balance, sources told SMU.
For the next month, CRU forecasts that steelmaking raw materials demand will improve as buyers will restock ahead of seasonally stronger steel-demand periods.
NEMO Industries CEO Daniel Liss sits down with SMU to discuss all the new developments on the company's Louisiana pig iron project.
The export markets on both coasts have not changed very much over this last week.
Recycler demand increased while fewer respondents reported sufficient obsolete scrap, even as inventory drawdowns remained widespread.
There has been a resumption in pig iron activity in Brazil on the part of US-based steel mill buyers. Sources have confirmed there were two fresh deals concluded from South Brazil.
August has been quiet thus far, with scrap suppliers working on completing their current orders as signals of a weaker September start to appear.
The pig iron market in the US has been thrown into uncertainty. The culprit? Indian material being imported into the US at prices well under the prevailing Brazilian level.
The spread between domestic hot-rolled coil and prime scrap prices widened again in August, a trend that began nearly a year ago.
NEMO Industries has chosen Tenova as the technology provider for its planned direct-reduced iron (DRI) ENERGIRON plant in Louisiana.
Canadian steel producers will get new help moving material across the country under a federal freight rebate plan launched on Aug. 10.