Ferrous scrap prices have landed largely sideways this month, sources told SMU. The market quickly settled on Wednesday as 90% of the buying concluded, according to sources in several districts. It appears steelmakers decided there was no point in possibly disrupting flows with their strong forward order book and exceptional spreads between finished steel and current scrap costs.
Ferrous scrap prices could be poised for a sideways move in September as supply and demand are seemingly in reasonable balance, sources told SMU.
SMU welcomed to the stage George Adams for a Fireside Chat at the 2026 SMU Steel Summit on Wednesday.
For the next month, CRU forecasts that steelmaking raw materials demand will improve as buyers will restock ahead of seasonally stronger steel-demand periods.
NEMO Industries CEO Daniel Liss sits down with SMU to discuss all the new developments on the company's Louisiana pig iron project.
The export markets on both coasts have not changed very much over this last week.
There has been a resumption in pig iron activity in Brazil on the part of US-based steel mill buyers. Sources have confirmed there were two fresh deals concluded from South Brazil.
NEMO Industries has chosen Tenova as the technology provider for its planned direct-reduced iron (DRI) ENERGIRON plant in Louisiana.
There has been renewed activity in the Turkish deep-sea export arena as buyers continue to fill in their September needs.
This CRU insight is the third installment on how El Niño may impact the steel and steelmaking raw materials markets.
The Brazilian pig iron trade with the US has resumed after a month of inactivity.
A mid-month look at the developing US August scrap market.
The Office of the US Trade Representative has finalized a 25% Section 301 tariff on all goods imported from Brazil. Importantly for the US steel industry, pig iron has received an exemption from the tariff.
North American Iron Inc. has announced it has secured additional financing in order to advance its project to convert iron ore tailings into merchant pig iron.
Mesabi Metallics Co. has announced the successful completion of its first production blast at its iron ore mine in Nashwauk, Minn.
The US scrap market has settled soft sideways in July, sources told SMU.
Notably, pig iron is not excluded from the proposed Brazil measures. This would represent a change from the Brazil EEPA tariffs, which excluded pig iron.
The scrap market for July is partially settled except for the three largest scrap buyers in the country.
The significant earthquakes in Venezuela could delay scrap exports, sources told SMU.
After the domestic scrap market wrapped up the first half of the year on a positive note, will July follow suit?
Sims Limited, formerly Sims Metal Management, raised its fiscal-year 2026 earnings guidance from its March 2026 estimate in an update on June 16.
There has been a pause this month in new pig iron transactions between Brazil and the US due to uncertainty around US tariffs.
For the next month, CRU forecasts that iron ore demand will fall m/m while metallurgical coal to be stable.
The spread between domestic hot-rolled coil and prime scrap prices continued to widen in June, a trend that began in September.
The Office of the US Trade Representative has proposed a Section 301 tariff carve-out for direct-reduced iron (DRI) and hot-briquetted iron (HBI) from Brazil while planning higher tariffs for other major suppliers.
SMU’s Current Sentiment Index for scrap slipped in June, but Future Sentiment rose, according to the latest data from our ferrous scrap survey.
The pig iron import market in the US continues its upward price movement.
Jefferson Shredding & Recycling LLC, Birmingham, Ala., is planning to install a shredder system at Outokumpu’s Calvert, Ala., stainless steelmaking facility, according to a recent press release.
The export markets are generally showing an increased demand for scrap.
Although price levels have been quite favorable recently in the Brazilian pig iron market, there does not seem to be enough production to keep the pipeline intact.