Tag: Ferrous scrap

US scrap prices are expected to rise in December, industry sources told SMU.

Turkish scrap import prices increased for a third consecutive week.

Virginia-based metal recycler Greenwave Technology Solutions revealed its financial troubles in its 10-Q quarterly report released on Nov. 14.

The importation of basic pig iron has allowed EAF steelmakers to implement thin-slab casting technology to make drawing-quality flat-rolled sheet over the last 30 years.

The spread between HRC and prime scrap prices widened considerably this month, according to Steel Market Update's most recent pricing data.

Domestic scrap prices rose in November month over month for all grades that SMU covers, market sources said.

The iron and steel foundry industries consume about 17% of the ferrous scrap in the US each year. They purchase several grades of scrap in common with steelmakers, such as shredded and turnings. But, most of the grades are much more restrictive than what larger mills require. 

Steel Dynamics Inc. (SDI) scrap subsidiary OmniSource has acquired a 55-acre rail-served tract near the Port of Houston to expand its metal recycling operations along the Gulf Coast.

The LME aluminum three-month price was unchanged on the morning of Nov. 3 and was seen trading at $2,235 per tonne.

A large Detroit-area scrap buyer has settled scrap prices for November, with busheling, shredded, and plate and structurals (P&S) all notching gains vs. October, a scrap source told SMU.

The announcement that Republic Steel in Canton, Ohio, is going to permanently cease operations disappointed many scrap suppliers in Ohio and Pennsylvania.

The ferrous export market in the US has experienced several geopolitical events and natural disasters during 2023.

Radius Recycling thinks that an end to the UAW strike could relieve pressure on a tight domestic scrap market. Scrap supplies have fallen because of lower manufacturing, construction, and demolition activity as well as “the slowing economy overall,” Radius chairman, president, and CEO Tamara Lundgren said. Inflation and higher interest rates have contributed to that […]

As the ferrous scrap market in the US enters the home stretch for 2023, it faces an array of issues and uncertainties.

Subcontractors for U.S. Steel in Indiana stole ~20 million pounds of scrap valued at ~$2 million over a two-year period.

River Metals Recycling (RMR), a subsidiary of Nucor, has acquired all the Cincinnati-based assets of Garden Street Iron & Metal.

The spread between hot-rolled coil (HRC) and prime scrap prices widened slightly this month, according to SMU’s most recent pricing data.

The pig iron trade is an important element to the US steel and foundry industry.

Prime scrap prices were unchanged in October month over month, following a large Detroit-area buyer's lead, according to market sources.

A large Detroit-area scrap buyer has settled scrap tags for October, with busheling scrap sideways, a source told SMU.

Some of the movements in scrap and pig iron pricing over the past 18-24 months have been quite drastic.

While the ongoing United Auto Workers (UAW) strike hasn’t had a significant impact on the scrap market, the strike's expansion to stamping plants could hit supply, sources tell SMU.

The US scrap market for October is a bit unsettled as the UAW strike against the Big Three automotive companies has expanded and shows scant signs of an imminent settlement.

The United Auto Workers (UAW) union has more leverage than the Detroit Three automakers in the current strike that started Sept. 15, according to Jason Schenker, president of Prestige Economics.

Domestic scrap prices for shredded and HMS were sideways in September vs. August. However, busheling fell precipitously during the month, according to scrap sources surveyed by SMU.

Scrap sources had a mixed outlook for US scrap prices for September.

Leading voices in US the scrap industry discussed the current outlook and future challenges at Steel Summit 2023’s panel on Scrap and Metallics: Navigating the Boom in EAF Sheet Production.

Metals and electronics recycler Sims Ltd. reported lower earnings in its North America Metal division for its fiscal-year 2023 that ended June 30 due to “falling sales prices and strong domestic competition.”

Sims Metal is expanding its extensive network of scrap recycling facilities in the US with the addition of Baltimore Scrap Corp. (BSC).

Despite reporting the third highest quarterly revenues in its history, Greenwave Technology Solutions still posted a loss for the quarter ended June 30.