There has been renewed activity in the scrap export market in the Mediterranean Basin during the last week. Most of the activity occurred in Northern Europe and the Baltic regions with prices basically staying sideways to up slightly.
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.
The US scrap market finds itself in a familiar position as we progress into the final quarter of the year.
NEMO Industries has announced a venture to build a pig iron plant in Louisiana. The plant will use advanced technologies, including integrating AI.
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...
SMU spoke with a large channel in Brazil who confirmed his company sold a cargo of 50,000 metric tons (mt) to a US buyer at $383/mt FOB Brazil. That's down $12/mt from the last cargo sold in September.
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.
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.
In the Americas, the ongoing conversion to EAF melting is driving demand for prime grades of scrap and increased use of ore-based metallics
The ferrous scrap market is still searching for clues about the direction of the October 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.
There are divergent views among market participants about the direction of scrap prices as we head into October.
SMU uses ferrous scrap survey data to take AI out on a test drive.
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.
The pig iron market in Brazil is currently in flux and there have been few, if any, confirmed cargoes transacted for the US.
When will we see prime scrap become scarce as the worldwide transition to EAF melting increases, especially for HRC production? It's a question I've been asked a lot.
SMU’s current Scrap sentiment index increased this month while future sentiment declined, according to our latest ferrous scrap survey data.
The scrap market in the US for September shipment has started to settle, with busheling seen down so far.
The Brazilian-US pig iron market has remained quiet, market sources told SMU.
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.
Thais Terzian, principal analyst at CRU, gave a presentation of Ore-Based Metallics(OBM), namely pig iron and direct-reduced iron (DRI), and how important they are to the global steel industry.
Panelists laid out what they look for in mergers and acquisitions at SMU Steel Summit 2025 on Tuesday in Atlanta.
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.
Prices remain subdued in US pig iron market, sources said.
The US scrap export market has traded sideways or slightly less for about 60 days, with no real firmness in sight.
The price spread between prime scrap and hot-rolled coil (HRC) narrowed in August, according to SMU’s most recent pricing data.
The US ferrous scrap market remains in doldrums.
What are our scrap survey participants saying about the market?
What the word "sideways" means can depend on where you sit on the procurement spectrum.
Current and future scrap sentiment indices declined this month, according to SMU’s latest ferrous scrap survey data.