Features

Key discussions at the ISRI Convention 2024
Written by Gabriella Vagnini & Stephen Miller
April 15, 2024
As the ISRI 2024 conference unfolds in Las Vegas, attendees are diving into crucial discussions shaping the future of the recycling industry. Here are the main topics being discussed:
New steelmaking capacity coming online this year
- How will the introduction of new steelmaking capacity affect the balance of supply and demand in the market? Will the need for low residual scrap push prices up for this grade and other scrap substitutes?
Export demand during this period
- Will there be an increase in export demand? What effect will this have on domestic prices? Will increased exports of new and semi-finished steel from China dampen demand for scrap in the Far East and South Asia?
Infrastructure spending
- How significant is the expected increase in infrastructure spending? Will both flat-rolled and long products producers see an increase in their business thereby increasing scrap demand? Projects like energy, bridge, road construction and others may be a boon for steel producers.
Supply of pig iron and HBI
- What factors will influence the availability and flow of pig iron and DRI/HBI, and how might this impact pricing dynamics? Will Ukrainian pig iron continue supplying the US market? Brazilian material has increased over the last month. Will this trend continue?
Current logistics challenges
- What are the primary logistical challenges currently facing the industry, and how are they expected to evolve in the coming months? What projects scheduled on our river system could affect the inbound and outbound flow of scrap and other steelmaking raw materials? Will federal trucking regulations reduce the number of drivers available to deliver scrap? Will geopolitical events drive up the maritime freight rates?
May scrap prices
- What factors are likely to drive fluctuations in scrap prices during May, and what implications might this have for market participants? Has the scrap market finally hit bottom? Will increased steel production translate into higher price tags for scrap?
Green steel
- What specific advancements or initiatives in green steel production are influencing market dynamics, and how are they being perceived by consumers and investors? Will regulations be imposed on the scrap community?
- What regulatory changes or market developments in India are impacting the non-ferrous scrap sector, and how might this affect global supply chains?
Non-ferrous scrap availability and flows
- What factors are influencing the availability and flow of non-ferrous scrap, and how are market participants adapting to changing supply dynamics?
Non-ferrous LME aluminum and COMEX copper rally
- What’s behind it and where will it go from here? How will it continue to affect scrap prices?
LME ban on Russian metal
- On Friday, April 13, the LME officially banned trading Russian metal. How will this affect the non-ferrous scrap market?

Gabriella Vagnini
Read more from Gabriella Vagnini
Stephen Miller
Read more from Stephen MillerLatest in Features

Final Thoughts
Tariff-related noise aside, there is one basic factor keeping buyers on the sidelines. Despite recent declines, HR prices remain at historically high levels. And there is no obvious support to keep them there.

Get an inside look at steelmaking at SMU’s Steel 101 workshop
If you’re looking to build a solid foundation in steel or sharpen the knowledge you already have, the SMU Steel 101 Workshop is a great place to start. Our next workshop will be held in Memphis, Tenn. on June 10-11, 2025

AISI: Raw steel production climbs to 7-month high
US steel mills produced more raw steel last week than they have over the past seven months, according to the American Iron and Steel Institute.

Final Thoughts
United Airlines raised eyebrows earlier this month when it provided two forecasts for 2025 – one assuming a relatively stable economy and another assuming a recession. The reason? Uncertainty around the impact of President Trump’s policy shocks on the broader economy. And it sometimes feels like we’re seeing a battle between those two narratives (stable vs recession) play out within in the pages of this newsletter.

Price: Expect new trade shocks as Trump’s ‘reciprocal’ tariff negotiations continue
President Trump cast a wide net with the proposed, reciprocal tariffs. The negotiating stage will be critical to determining the success of his strategy. And for those suffering tariff whiplash, don’t expect the pace of change to slow down just because the reciprocal tariffs are entering a negotiating phase.