Scrap Prices North America
Radius Recycling Optimistic Despite Tight Market
Written by Becca Moczygemba
October 25, 2023
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 weakness, Lundgren added.
But she struck an optimistic tone during the Portland, Ore.-based scrap recycler’s fiscal fourth quarter earnings conference call on Wednesday, Oct. 25.
Radius expects tighter scrap supply conditions until the economy improves. The resolution of the UAW strike, however, and increased manufacturing activity should help boost scrap flows. Incoming funds from the infrastructure bill should help as well, Lundgren said.
“While the weaker environment that we’re in today presents challenges, we have experienced cyclical downturns and volatility before. And have demonstrated our ability to navigate effectively through these periods,” she added.
Becca Moczygemba
Read more from Becca MoczygembaLatest in Scrap Prices North America
HRC vs. prime scrap spread widens in June
The price spread between HRC and prime scrap widened in June.
Ferrous scrap pricing sideways in June
Ferrous scrap prices in the US have remained stable from May to June.
HRC vs. scrap spread widens over $150/ton in March
The HRC vs. prime scrap spread increased again in March.
HRC vs. prime scrap spread increases in February
The price spread between hot-rolled coil (HRC) and prime scrap widened in February ahead of the implementation of President Trump’s tariffs on steel.
HRC vs. prime scrap spread narrows again in January
The price spread between hot-rolled coil (HRC) and prime scrap continued to narrow in January, according to SMU’s most recent pricing data. While SMU’s average HRC price edged down week over week (w/w), it rose compared to a month ago. The January price for busheling also increased from December. Our average HRC price as of […]