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
If I could change something, it’d be this: Political news would get more boring. And news about steel prices and steel demand would get a little more exciting.

US and Canada expect positive outcomes from tariff negotiations
Canadian Prime Minister Mark Carney and US President Donald Trump told reporters at the White House on Tuesday that they’ll be formulating a trade deal that works for both nations.

Final Thoughts: Survey says edition
SMU’s latest survey results indicate that steel market participants think sheet prices are at or near a bottom. But most also think there is limited upside once they inflect higher.

SMU Scrap Survey: Current and Future Sentiment tick down
SMU’s Current Sentiment Index for scrap decreased this month, a move mirrored by our Future Sentiment Index, according to the latest data from our ferrous scrap survey.

Leibowitz: When the shutdown should end
There is no doubt that the current government shutdown reflects the vast divisions between the extremes of American politics, society, and even geography. Almost all Americans agree that government is necessary, but voters disagree...