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    April 15, 2024

    Questioning long-held scrap price ‘realities’

    Written by Phil Hoffman

    Does the price of ferrous scrap depend on the price of finished steel product? And how much of an influence do billet and slab prices have on scrap prices?

    Starting October 2020 for hot-rolled coil (HRC) and January 2021 for rebar, the spread between ferrous scrap prices and finished steel prices has been historically high, which prompts the question: Is there a direct correlation between the price of finished steel and the price of ferrous scrap?

    Phil Hoffman

    Phil Hoffman has been in operations, logistics and trading ferrous scrap globally for more than 30 years. Hoffman Iron has also consulted for numerous steel mills, where he has enhanced steel mill scrap and raw material operations by successfully reducing raw material costs while increasing yields. Hoffman is in addition an attorney specializing in international trade and maritime law.

    Read more from Phil Hoffman

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