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DJJ head says scrap prices could strengthen in coming months
After falling in the second quarter, scrap prices appear to have temporarily bottomed and may even be heading upward, according to Keith Grass, CEO of Nucor’s scrap unit, David J Joseph (DJJ).
Speaking during a quarterly earnings call yesterday, Grass said flows into company scrap yards appear [...]
Steel Dynamics Inc CEO Keith Busse doesn’t believe US scrap prices will be up in August, he told investors and analysts yesterday on a quarterly conference call monitored by Steel Business Briefing.
Due to a weak export picture and declining steel prices, he said “you’re not going to see any strength in [...]
Declining scrap prices are expected to drag down US longs prices with them, Steel Business Briefing understands.
A source at one domestic beams producer predicted yesterday that prices for delivery of that product next month would fall along with the decline in scrap by $20-40/short ton.
Source: Steel Business Briefing
August US scrap surcharge benchmark down $45/l.ton
A key scrap price that determines surcharges for August deliveries of many steel products in the US market fell by $45 - from $350 to $305 per long ton, Steel Business Briefing learns.
As SBB has previously reported, scrap market players had been expecting a [...]
The U.S gov’t last month imposed large tariffs of 42.61% to 289% charging the Chinese were dumping wire decks in the US.market.
Response : Government puts tariffs on imported wire but at who’s expense?
Government intervention into the free markets has a dismal & destructive track record.
Nobody ever wins a trade war. Call it what [...]
LONDON (MarketWatch) — European trade groups Eurofer, which represents steelmakers, and Orgalime, which represents industrial firms, said they “condemn” attempts by iron-ore producers BHP Billiton, Rio Tinto and Vale to increase prices by 80% or more. Vale this week reached a deal with Japanese steelmakers to up prices by 90%. The trade [...]
March’s US scrap market could be “coming in like a lion” with strong prices, one Mid-Atlantic states scrap dealer tells Steel Business Briefing.
“By all accounts the mills have strong order books, and are projecting good business. On the other side, incoming scrap has been severely impacted by the weather, as has transportation, especially rail service. [...]
Sources: US scrap prices will continue rising
The US scrap market for January and February is still taking shape – but market players tell Steel Business Briefing they expect prices to continue their upward march.
“I think the demand is going to be exceeding the supply, so I think prices will remain [...]
Turkish steel mills are still buying little scrap because of the high global prices. US suppliers are not offering any price to Turkey because of the strong domestic demand in USA, market sources tell Steel Business Briefing.
Only one deep sea cargo from the European Union was sold to Turkey this [...]
A higher than expected jump in US scrap prices has some in the scrap market feeling skittish about volatile prices, Steel Business Briefing notes.
“The numbers have gotten out of control,” said one Midwestern US scrap buyer, while predicting the market would go up again in January. “There will be no [...]
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