Ferrous Scrap
Ferrous scrap mills have entered September market
Written by Stephen Miller
September 5, 2024
Great Lakes-area mills have entered the September ferrous scrap market in a surprisingly prompt manner.
Mills in Detroit have reportedly bought scrap sideways from August, with the exception of shredded scrap, which fell $20 per gross ton.
The prices aligned with various trade projections, except for plate and structural (P&S) and HMS, which appeared to be undervalued given their stronger performance.
In speaking with a large scrap seller in the Midwest, he said Chicago has not officially bought yet and since mills there are going to buy scrap at a near-normal level, the prices Detroit paid may not play well in Chicago.
There is doubt shredded can go down very much in the Midwest, even with upcoming outages. The next several days will determine whether prices can drop at all.
Stephen Miller
Read more from Stephen MillerLatest in Ferrous Scrap
June scrap market appears ‘soft sideways,’ pig iron down
An update on the ferrous scrap market.
Shoots of light in US ferrous scrap export mart?
A look at the latest developments in the ferrous scrap export market.
HRC vs. prime spread narrows further in May
The price spread between hot-rolled coil (HRC) and prime scrap narrowed again in May, according to SMU’s most recent pricing data.
US scrap tags tumble in May, bottom near?
Domestic scrap prices tumbled across the board in May, but will June prove a bottom for the market?
Domestic ferrous scrap market down as trading wraps up
The US ferrous scrap market for May shipment has basically settled, with the primes grades of #1 Busheling and bundles falling around $30 per gross ton (gt) from April levels. The obsolescent grades of HMS, shredded and plate and structural declined by $40/gt across several regions.