Category: Product

The ferrous scrap market is still searching for clues about the direction of the October market.

Recycler BL Duke announced on Wednesday the launch of its new steel turnings containment building in Joliet, Ill.

Sheet and plate prices were flat or lower this week as less discounting from domestic mills was offset by few signs of an anticipated rebound in demand.

Algoma Steel is increasing its credit facility from USD$300 million to USD$375 million due to "market conditions."

Nucor Plate Group announced that its patent-pending wide floor plate product is now available to customers in a statement on Monday. 

A compromise has been reached in the pig iron market, sources told SMU. Recall we reported US buyers were bidding $390 per metric ton (mt) FOB or less while sellers were holding sideways at about $400/mt.

US rig counts continue to hover just above historic lows, while Canadian figures remain comparatively healthy.

This piece was first published by SMU’s sister publication, Aluminum Market Update. To learn about AMU, visit their website or sign up for a free trial. The cause of a fire at Novelis’ aluminum mill in Oswego County, New York, is under investigation. The fire started just after 10 p.m. ET on Sept. 16 in the facility’s hot […]

Participants in the US carbon and steel plate market are frustrated by the lack of activity following the Labor Day holiday weekend.  

Sheet times ticked higher but remain within days of multi-year lows, territory they have been in since May. Plate lead times have shifted lower in the past month but remain about a week longer than they were at this time last year.

There are divergent views among market participants about the direction of scrap prices as we head into October.

In this Premium analysis we examine North American oil and natural gas prices, drill rig activity, and crude oil stock levels through September. Trends in energy prices and rig counts serve as leading indicators for oil country tubular goods (OCTG) and line pipe demand.

There have been developments in the ferrous scrap export market in the Atlantic Basin over the past week that point to weakness in the near future.

The pig iron market in Brazil is currently in flux and there have been few, if any, confirmed cargoes transacted for the US.

Sheet prices are expected to increase in the coming weeks in most markets. However, rising domestic capacity in the US, subdued demand in Europe, and high inventory levels in China and India will limit price near-term uptrend.

Market sources say demand for domestic plate refuses to budge despite stagnating prices. 

Comments from participants of our Ferrous Scrap Market Survey.

Nucor aims to keep plate prices flat for a seventh straight month with the opening of its October order book.

US busheling scrap prices have declined this month, while shredded and HMS tags have remained unchanged, according to market sources.

U.S. Steel said it plans to reduce slab consumption at its Granite City Works near St. Louis, a company spokesperson said on Monday. The Pittsburgh-based steelmaker will shift the production and processing of steel slabs to its Mon Valley Works near Pittsburgh and its Gary Works near Chicago. Citing a United Steelworkers (USW) union memo, […]

SMU’s current Scrap sentiment index increased this month while future sentiment declined, according to our latest ferrous scrap survey data.

Here are highlights of what’s happened this past week and a few upcoming things to keep an eye on. 

The scrap market in the US for September shipment has started to settle, with busheling seen down so far.

The Brazilian-US pig iron market has remained quiet, market sources told SMU.

he US longs market remained stable this month despite ongoing challenges from tariff-impacted imports, even as end-use demand was relatively unchanged and scrap prices held flat in August.

As Labor Day marks the transition into fall, the steel market enters September with a similar sense of change. Supply-side fundamentals are beginning to show signs of restraint: imports are limited, outages loom, and production is capped, setting the stage for a market that feels steady on the surface but still unsettled underneath.

Sheet and plate lead times held steady yet again this week, according to steel buyers responding to our latest market survey, a trend in place since May.

Sluggish economic activity across the US was largely attributed to uncertainty caused by tariff policies and growing cost pressures, according to the US Federal Reserve’s (The Fed) latest Beige Book report.   The Fed’s latest economic report, posted on Sept. 3, consists of economic findings from the six weeks preceding Aug. 25 throughout 12 districts. Economic […]

The export market is looking for direction based upon the latest scrap purchases from Northern Europe by Turkish steelmakers. The sentiment was looking bearish, but sellers may see it differently.

Oil and gas drilling activity waned in the US and Canada this past week. Ticking own for the second straight week in both regions.