The US ferrous scrap market for May shipment has basically settled, with the primes grades of #1 Busheling and bundles falling around $30 per gross ton (gt) from April levels. The obsolescent grades of HMS, shredded and plate and structural declined by $40/gt across several regions.
The US scrap market should start to form next week, and the outlook is for another drop in the delivered cost of material.
The domestic ferrous scrap market in the US is generally regarded as under downward pressure.
The ferrous scrap export market has been thinly traded thus far in April in the Atlantic Basin.
The constant flow of information we all receive can be a bit overwhelming, but SMU is here to help with a weekly snapshot.
The price spread between hot-rolled coil (HRC) and prime scrap narrowed in April after widening since January, according to SMU’s most recent pricing data.
US scrap prices declined in April for all the grades tracked by SMU amid tariff uncertainty, according to market sources.
Last week, much attention was focused on President Trump’s “Liberation Day” tariffs and rightly so. They have thrown a big wrench into the market-reading business. Whether you are for them or against them, the potential outcomes are hazy, at best. Maybe we should not forget the basics, tariffs concerns notwithstanding. The basics of this ferrous […]
Scrap buyers sound off on prices, demand, etc., in SMU's monthly scrap survey.
SMU’s ferrous scrap market survey results are now available on our website to all premium members. After logging in at steelmarketupdate.com, visit the pricing and analysis tab and look under the “survey results” section for “ferrous scrap survey” results. Past flat-rolled survey results are also available under that selection. If you need help accessing the survey results, […]
MetalX Founder and CEO Danny Rifkin - born in 1954 - died on April 1, surrounded by family.
US steel trade groups representing mills had a far more positive reaction to President Trump’s “Liberation Day” than the leading recycled metals association.
The price of pig iron for the US market remains firm despite a potential drop in domestic ferrous scrap prices going into April.
The US ferrous scrap market rise this year is showing signs of slowing down as US steelmakers adjust production in line with slower automotive production and sales. But President Trump's announcement of 25% auto tariffs could change things very fast.
The export situation from the US East Coast was interrupted last week after a political event in Turkey.
The US scrap market is in for another unpredictable ride going into April. Questionable scrap flows, extended winter weather, and implications of tariffs on steel and scrap continue to have an impact.
The HRC vs. prime scrap spread increased again in March.
Ferrous scrap prices rose across the board in March as the market adapted to short supply and the volatile tariff situation, sources told SMU.
The companies said Thursday that Radius shareholders will receive $30 per share in cash upon the deal’s closing, which is expected in the second half of this year.
“The next months are going to be good ones for pig iron producers," according to one source.
After an unusually long period of waiting for the March scrap market settlements, several mills are now actively buying ferrous scrap. And it looks like prices are ticking up.
Domestic shredded scrap has experienced a renaissance in pricing since January. And that increase had caused traditional exporters to ship their material to domestic users instead of overseas. But with recent changes, this cycle may end with the resurgence of export demand and continued foreign exchange fluctuations.
The situation on ferrous scrap has cleared up with the pause of the implementation of Canadian and Mexican blanket tariffs.
In the final week of February, SMU polled steel and scrap executives to gather their insights on the current state of the scrap market as well as future projections.
These tariffs would significantly increase costs for American manufacturers that rely on Canadian metals. They would also disrupt supply chains and weaken economic ties that have benefited both nations for decades.
SMU’s ferrous scrap market survey results are now available on our website to all premium members. After logging in at steelmarketupdate.com, visit the pricing and analysis tab and look under the “survey results” section for “ferrous scrap survey” results. Past flat-rolled survey results are also available under that selection. If you need help accessing the […]
Input costs have been driven higher by tighter supplies and restricted flows after a tough winter. Could rising demand from mills fuel an extended rally into Q2? Shredder feed has been strained as shredders try to fill backlogs. And shredded prices could jump by $50 per gross ton (gt) this month, some suggest. It's a similar story with prime grades. That's because industrial generation is down, and hot-rolled coil production is picking up.
The main impact of tariffs on scrap prices would be felt in Northern states - and especially among those along the Canadian border. Many steelmakers in this area receive a substantial portion of their monthly scrap charge from Canadian processors. Much of it is prime scrap used by hot-rolled (HR) coil producers.
As February comes to a close this week, the scrap markets are poised for another – and perhaps more extreme – move upward in March. March is usually a month when scrap prices relent as winter’s impediments subside. That’s not the case this year. And this time, the driver of prices will be increased demand from mills along with restricted flows over the last two months.
Buyers are optimistic for a strong scrap market in March, driven by limited scrap inflows from severe weather disruptions and increasing mill demand.