Scrap, weak demand lower SBQ steel prices in US

Special bar quality (SBQ) steel prices in the United States have declined once again due to persistent demand weakness and lower raw material costs, according to market sources.

On the hot-rolled side of the market, Fastmarkets' monthly price assessment for steel bar hot-rolled special bar quality (SBQ) 1-inch round 1000 series (carbon), fob mill US slipped to $31.25 per hundredweight ($625 per short ton) on Friday August 21, down by 25 cents (0.8%) from July's $31.50 per cwt.
On the cold-finished side, Fastmarkets' assessment for steel bar cold-finished 1-inch round 1018 (carbon), fob mill US declined to $49.25 per cwt ($985 per ton), down by 75 cents (1.5%) from $50 per cwt one month earlier.

Although...

Bank of Japan boosts rates, continuing an unwinding carry trade

Gold stocks outperform equity market slide

Silver inventories rebound in UK, output from major producers rises

Silver's three-month outperformance continues

Silver & Copper Supply Distortions Continue