What a promising start to 2011! Even though rapidly-rising steel prices have been met with a measure of restraint, and the robust levels of purchasing activity were largely based on inventory restocking, the situation did not necessarily inflate into a bubble as many predicted early in the year.
It goes without saying that the steel industry needs the scrap industry; without an abundant supply of leftover steel from consumers, manufacturers and demolishers, steel plants would have to rely entirely on iron ore for their raw material. Sure, iron ore is more pure than scrap and can produce higher-quality steel, but it’s costlier to […]
he last time we spoke, Mr. Bull, you advised me to look out for your steaming freight train that was about to hit, or at least arrive, in Q1 2011. I have been on the lookout ever since, straining my eyes and even buying more powerful binoculars.
The biggest news in the international scrap market involved the mid-winter Australian floods that devastated the country’s coal industry and also severely affected iron ore mining. With reduced supplies flowing into the global marketplace, integrated steelmakers are expected to compensate with an increased focus on scrap, which would spike worldwide demand and, most likely, prices […]