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

Mixed bids, outages, and full inventories cloud October scrap settlement
Stephen Miller reports the US domestic scrap market is on the verge of setting prices for October, although wide-scale buying is still in progress.

IIMA meeting: Decarbonization to drive demand for scrap, DRI
In the Americas, the ongoing conversion to EAF melting is driving demand for prime grades of scrap and increased use of ore-based metallics

October scrap market still up for grabs
The ferrous scrap market is still searching for clues about the direction of the October market.

Recycler BL Duke launches steel turnings containment building in Illinois
Recycler BL Duke announced on Wednesday the launch of its new steel turnings containment building in Joliet, Ill.

Brazil, US buyers reach price compromise in pig iron market
A compromise has been reached in the pig iron market, sources told SMU. Recall we reported US buyers were bidding $390 per metric ton (mt) FOB or less while sellers were holding sideways at about $400/mt.