Category: Raw Materials

Canadian miner Teck Resources has announced the sale of its metallurgical coal business, Elk Valley Resources, with Swiss miner Glencore becoming the majority stakeholder.

Domestic scrap prices rose in November month over month for all grades that SMU covers, market sources said.

The iron and steel foundry industries consume about 17% of the ferrous scrap in the US each year. They purchase several grades of scrap in common with steelmakers, such as shredded and turnings. But, most of the grades are much more restrictive than what larger mills require. 

Steel Dynamics Inc. (SDI) scrap subsidiary OmniSource has acquired a 55-acre rail-served tract near the Port of Houston to expand its metal recycling operations along the Gulf Coast.

The LME aluminum three-month price was unchanged on the morning of Nov. 3 and was seen trading at $2,235 per tonne.

A large Detroit-area scrap buyer has settled scrap prices for November, with busheling, shredded, and plate and structurals (P&S) all notching gains vs. October, a scrap source told SMU.

The announcement that Republic Steel in Canton, Ohio, is going to permanently cease operations disappointed many scrap suppliers in Ohio and Pennsylvania.

The ferrous export market in the US has experienced several geopolitical events and natural disasters during 2023.

The active rig count for the week ended Oct. 27 inched up in the US but edged down in Canada, according to oilfield services provider Baker Hughes.

With the aluminum industry assembled in Nashville, Tenn., for the Aluminum USA 2023 conference, word was breaking of a tentative deal between the United Auto Workers (UAW) and Ford.

Radius Recycling thinks that an end to the UAW strike could relieve pressure on a tight domestic scrap market. Scrap supplies have fallen because of lower manufacturing, construction, and demolition activity as well as “the slowing economy overall,” Radius chairman, president, and CEO Tamara Lundgren said. Inflation and higher interest rates have contributed to that […]

As the ferrous scrap market in the US enters the home stretch for 2023, it faces an array of issues and uncertainties.

The spread between hot-rolled coil (HRC) and prime scrap prices widened slightly this month, according to SMU’s most recent pricing data.

The pig iron trade is an important element to the US steel and foundry industry.

Prime scrap prices were unchanged in October month over month, following a large Detroit-area buyer's lead, according to market sources.

A large Detroit-area scrap buyer has settled scrap tags for October, with busheling scrap sideways, a source told SMU.

While the ongoing United Auto Workers (UAW) strike hasn’t had a significant impact on the scrap market, the strike's expansion to stamping plants could hit supply, sources tell SMU.

The US scrap market for October is a bit unsettled as the UAW strike against the Big Three automotive companies has expanded and shows scant signs of an imminent settlement.

The United Auto Workers (UAW) union has more leverage than the Detroit Three automakers in the current strike that started Sept. 15, according to Jason Schenker, president of Prestige Economics.

The spread between hot-rolled coil (HRC) and prime scrap prices continued to narrow this month, according to Steel Market Update’s most recent pricing data.

Scrap sources had a mixed outlook for US scrap prices for September.

Leading voices in US the scrap industry discussed the current outlook and future challenges at Steel Summit 2023’s panel on Scrap and Metallics: Navigating the Boom in EAF Sheet Production.

The US scrap market showed some stability in August, with prices mostly sideways on busheling and shredded grades, and HMS prices ticking up from the previous month, sources said.

Sheet prices were mixed this week with hot-rolled coil (HRC) and galvanized base prices slipping again even as cold-rolled tags inched up.

August could see US scrap prices stabilizing, or even rising, depending on the grade or region, scrap sources told SMU.

Schnitzer Steel Industries has changed its corporate name to Radius Recycling. The Portland, Ore.-based scrap recycler and long steel producer said on Wednesday it’s part of a rebranding initiative to reflect the company’s “vision, purpose, and impact on the global economy.” “While metals recycling and steel manufacturing have been the foundation of our global business for […]

Over the last month, the iron ore price has shown more weakness as fewer participants in the market maintain a positive outlook based on more stimulus measures in China. Simultaneously, on the supply side, Australia followed seasonal trends with a marginal y/y increase. Recovered Brazilian volumes have also begun to weigh on the market. Supply […]

Domestic scrap prices fell for busheling and shredded grades in July, while tags were mostly sideways to slightly up on heavy melting scrap, sources said. “Between tight scrap supplies, slightly better-than-expected domestic demand in the South and Ohio Valley, and relatively stable export pricing, the market trended sideways for obsolete grades in those regions as well […]

Join us for SMU’s next Community Chat webinar with Wolfe Research managing director Timna Tanners. The webinar will be held on Wednesday, July 12, at 11 am ET. It’s free for all to attend. A recording will be available to SMU members. You can register here. We’ll talk about what Tanners describes as “the myth […]

New orders for manufactured durable goods increased for the third consecutive month in May, increasing 1.7%  from the previous month to $288.2 billion, according to the US Census Bureau. This follows a 1.2% month-over-month (MoM) gain in April, according to Census data. Transportation equipment is also up three consecutive months, up 3.9% to $102.6 billion. The bureau said that […]