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According to just-published data from American Metal Market (AMM), April prime and obsolete scrap prices fell 5.0% and 5.3%. The main drivers of declines were…more
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Our Advance/Decliner Index fell for the fifth consecutive week as our Our China Index dropped to the lowest since last September…more
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New Report Preview:
Important points from recent company investor calls, including Rio Tinto, BlueScope Steel, Usiminas, BHP Billiton, Vallourec and TMS International include: …more
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Despite iron ore prices hitting multi-year highs, just-settled February scrap prices declined $10/ton for prime and $9/ton for obsolete, according to data from AMM…more
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January prices in Chicago for #1 busheling (prime) settled flat for the second straight month at $390/ton, while shredded was unchanged at $386/ton, we believe…more
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New Report Preview:
According to just-published data from American Metal Market (AMM), November prices for #1 busheling (prime) settled flat at $390/ton, while shredded fell a nominal $1/ton …more
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New Report Preview:
According to just-published data from American Metal Market (AMM), November prices for shredded scrap (obsolete) and #1 busheling (prime) jumped $52/ton (+15.5%) and …more
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Less than three weeks after US Steel led with a $40/ton sheet hike, AK Steel announced a second sheet price increase of $50/ton effective immediately today, bringing the total to $90/ton.
SBB’s domestic HRC price assessment had remained stable the past two weeks after jumping $25/ton (or 4.3%) less than a week after US Steel’s initial hike, and we believe this increase is an attempt to get the market to fully absorb the first $40/ton hike.
Scrap Will Help. Strengthening scrap will likely support the increase, as there are increasing reports of scrap purchases up as much as $45-55/ton. We believe other sheet mills are likely to follow, although we suspect mini-mills will wait for Chicago scrap prices to settle before announcing increases of their own.
New Report Preview:
After declining nearly 20% over the past two months, we believe that November scrap buys will be done at higher levels in the coming days, with increases as large as $30…more
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Schnitzer Steel Industries (SCHN) reported an AugQ loss of ($0.02), which adjusted to a $0.10/share profit excluding restructuring charges, ahead of company guidance of… more
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