
Miller on scrap: Pig iron cost vs. #1 Busheling
A comparison of the current cost of pig iron vs. busheling scrap.
A comparison of the current cost of pig iron vs. busheling scrap.
The reprieve for Canadian and Mexican tariffs this week has left some uncertainty for the February scrap market, with some sources pointing towards a $20-per-gross-ton (gt) increase.
The scrap and metallics market has reacted to the tariffs potentially being implemented on our neighbors to the north and south. These could have a serious impact on the market, especially on Canada, unless these products are exempted.
The US scrap market sentiment has become more bullish over the last week. Many districts are telling SMU that the potential rise in prices will exceed the earlier estimate of $20 per gross ton (gt). Several sources have pegged the February market as up $30-50/gt. Here are several regional viewpoints from the trade: In the […]
A majority of SMU survey respondents expect US prime scrap tags to land sideways in February. In our most recent survey last week, 51% said US prime scrap prices would be flat next month, and 46% anticipate rising prices; the small remainder think prices will fall. Recall that the January ferrous scrap market settled before […]
Turkish scrap prices showed little change week over week (w/w), with HMS 80:20 and shredded grades assessed at $343 per metric ton (mt) and $357/mt, respectively. Turkish scrap prices remained steady during the third week of 2025, with HMS 80:20 unchanged at $343/mt, while Shredded grades fell edged lower $5/mt to $357/mt based on confirmed […]
The US scrap market for February has a lot of moving parts that need to mesh before an accurate picture can emerge. However, the general opinion for next month is an increase of at least $20 per gross ton (gt), according to sources contacted by SMU. Among the issues are winter weather decreasing scrap flows, […]
The US and Canada have a long history of exporting ferrous scrap to numerous other countries over the last 100 years. During this period, the countries supplied have varied. In the last century, the main export destinations were Japan, South Korea, and the Far East in general. As the installation of EAF melting proliferated, the […]
The export scrap markets continue to lose ground. Unlike the domestic markets in the US and Canada, which have shown some strength in January, there have been multiple sales by US East Coast (USEC) exporters at lower prices, even after the US markets prices settled. And February looks even stronger. There are several reasons for […]
US scrap tags rose for all the grades tracked by SMU in January in what was deemed a "restocking rally," sources said. The January market was up ~$20 per gross ton (gt) across the board. This did not include turnings, which were up $30/gt.
The ferrous scrap market at the start of the new year came into focus late yesterday, with overall prices seen rising from December.
The company said the biggest headwind it's facing is the downturn in manufacturing.
The ferrous scrap markets start the year off in a battered condition after a real drubbing in 2024. There is optimism, but this was felt at times last year, only to succumb to the reality of weak demand and lower steel production.
The role of dealer resistance has had many ups and down over the last decades. At times dealer resistance to ferrous scrap pricing was justified and had positive effects on prices.
The US domestic ferrous scrap market had a rough 2024, despite optimism as the year started.
Scrap prices were stable-to-down in most regions as demand weakness offset seasonal supply tightness
The price spread between hot-rolled coil (HRC) and prime scrap narrowed slightly in December, according to SMU’s most recent pricing data.
Last week, the export community in the Atlantic Basin was licking its wounds over a Northern European sale at a two-year low of $325 per gross ton (gt) for HMS 80/20 to Turkey.
Ferrous scrap prices have finished 2024 down, but there is hope for a bump in January, scrap sources said.
The scrap market in the US finally settled on Monday with one of the nation’s largest steelmakers issuing its price bids.
The US scrap market has begun forming for December shipment and prices seem to be sagging so far.
The ferrous scrap market hasn’t settled yet for December, but sources say mills are looking to push scrap prices down.
The ferrous scrap markets both here and abroad are displaying a definite lack of enthusiasm as we head into the holiday season.
Trademark Metals Recycling opened an advanced metal recovery facility in Bushnell, Fla.
Ferrous scrap prices were largely rangebound to down at the November settle, market sources told SMU.
The US and Canadian ferrous scrap markets for November have not settled following the US presidential election. There doesn’t seem to be a key indicator as to why November prices haven’t settled yet. For the ferrous scrap market, I can’t see a big change occurring. Nothing short-term, anyways. The mills don’t seem to have a view, either, or at least they aren’t showing a lean in any direction.
As we await the formation of November’s domestic ferrous scrap market, all the recent action is in the export market. However, it is debatable whether events in this arena are influencing our US market other than psychologically. This opinion has been expressed by several sources that I have approached.
Gerdau Long Steel North America completed its previously announced acquisition of Dales Recycling Partnership, a Tennessee-based operator and processor of ferrous and nonferrous scrap, on Nov. 1.
The ferrous scrap market for November is starting to look more like the several preceding months.
The recycled iron and steel markets seem to be “ho hum” at this stage of October. The word on the street is strong sideways, which is really not a bullish sentiment compared to the optimism of two weeks ago.