Miller on Scrap: Analyzing the November market from different angles
Since the October prices came out there have been a variety of speculative opinions on what the November looks like from several sources SMU regularly contacts.
Category: Raw Materials
Busheling and shredded tags drop, widening HRC vs. prime scrap spread
US scrap prices fell on busheling and shredded in October, while HMS remained flat, market sources told SMU.
SMU successfully completes IOSCO review
SMU has successfully completed an external review of all our prices. The review has concluded that they algin with principles set by the International Organization of Securities Commissions (IOSCO).
Obsolete scrap pinned by freight and weak export flows
here has been considerable activity in the export scrap market in the Mediterranean Basin over the last 10 days. Prices have inched up after recovering from a brief dip in September. Prices range from...
October scrap market settles with bush down $20, shred down $10
Most mills sought a drop of $20-40 per gross ton (gt) in busheling prices and a $20/gt dip for shredded and HMS. Despite efforts to buy cheaper, the busheling price settled at down only $20/gt.
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
Steelmaking raw material prices stable to higher
Most steelmaking raw material prices held steady or ticked higher over the past month
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.
Opinions split on direction of October scrap market
There are divergent views among market participants about the direction of scrap prices as we head into October.
Scrap export market shows signs of weakness
There have been developments in the ferrous scrap export market in the Atlantic Basin over the past week that point to weakness in the near future.
Pig iron market outlook cloudy
The pig iron market in Brazil is currently in flux and there have been few, if any, confirmed cargoes transacted for the US.
Scrap market chatter in September
Comments from participants of our Ferrous Scrap Market Survey.
Prime scrap prices slip for September, other grades sideways
US busheling scrap prices have declined this month, while shredded and HMS tags have remained unchanged, according to market sources.
SMU Scrap Survey: Current Sentiment rises as Future Sentiment falls
SMU’s current Scrap sentiment index increased this month while future sentiment declined, according to our latest ferrous scrap survey data.
September scrap buying underway, busheling down
The scrap market in the US for September shipment has started to settle, with busheling seen down so far.
US-Brazil pig iron trade stalls heading into fall
The Brazilian-US pig iron market has remained quiet, market sources told SMU.
Ferrous export market seeks direction
The export market is looking for direction based upon the latest scrap purchases from Northern Europe by Turkish steelmakers. The sentiment was looking bearish, but sellers may see it differently.
Steelmaking raw material prices hold steady
Most steelmaking raw material prices we track saw little change across the month of August. Iron ore, pig iron, shredded scrap, busheling scrap, zinc, and aluminum prices all held relatively steady,
How will scrap market handle fall outages?
The question among scrap players is can the market hold its level in the face of coming mill outages? Opinions are divided on the subject.
Sims' long-term outlook bright, sees tariffs boosting US scrap demand
Australia-based global recycler Sims Ltd. has a rosy long-term outlook, while the company said tariffs are supporting US demand for ferrous scrap.
Bipartisan Congressional Recycling Caucus gets relaunch
Rep. Haley Stevens (D., Mich.) has announced the relaunch of the bipartisan Congressional Recycling Caucus.
US pig iron market lacks price firmness
Prices remain subdued in US pig iron market, sources said.
CRU: Global scrap prices diverge even as US market holds flat
The CRUmpi rose by 0.8% month over month (m/m) to 286.1 in August, following four consecutive months of decline. Scrap prices showed mixed trends across major regions, largely influenced by local supply-and-demand dynamics, government policies, and the relative strength of finished steel markets. US prices were stable while Europe and Asia saw price increases, but […]
US scrap export market seeks footing
The US scrap export market has traded sideways or slightly less for about 60 days, with no real firmness in sight.
HRC vs. busheling spread narrows in August
The price spread between prime scrap and hot-rolled coil (HRC) narrowed in August, according to SMU’s most recent pricing data.
US scrap market struggles in doldrums
The US ferrous scrap market remains in doldrums.
US scrap prices land flat in August
The scrap market traded sideways again in August with little change expected in September, according to sources.