Tag: Shredded Scrap

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

Prices of steelmaking raw materials are largely up over the over the last 30 days, as they were the month prior, according to Steel Market Update’s latest analysis.

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.

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.

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.

Turkish scrap import prices rose due to conclusion of several deals towards the end of last week as key buyers and sellers re-entered the market.

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.

Turkish scrap import prices have remained relatively stable over the past two weeks due to slow trade activity. This was partly due to the holiday on August 30. CRU’s latest price assessment for HMS1/2 80:20 is $368 /metric ton CFR, up $1 /metric ton week-over-week (WoW) and up $21 /metric ton month-over-month (MoM). The holiday […]

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

The US scrap market showed some stability in August, with prices mostly sideways on busheling and shredded grades, and HMS prices ticking up from the previous month, sources said.

August could see US scrap prices stabilizing, or even rising, depending on the grade or region, scrap sources told SMU.

On Steel Market Update’s most recent Community Chat, we caught up with Timna Tanners, managing director of Wolfe Research, to hear her latest take on the steel market. Tanners chatted with SMU managing editor Michael Cowden about the myth of mill discipline within the sheet market. The market isn’t much more disciplined than a few […]

Editor’s note: Steel Market Update is pleased to share this Premium content with Executive members. For information on how to upgrade to a Premium-level subscription, contact Lindsey Fox at lindsey@steelmarketupdate.com. Prices of steelmaking raw materials have been largely on the decline over the last 30 days, as they were the month prior, the exception being pig […]

We’ve written in SMU about “green” steel and whether steel consumers, including market-leading OEMs, will pay a premium for it. What about the potential for premiums in scrap too? Maybe not for green scrap. But what about for “prime grade” or prime-equivalent shredded scrap? Shred that transforms into prime – maybe we could call it […]

We’ll kick off the Tampa Steel Conference next Sunday, and I’m looking forward to seeing many of you there in person. For kicks, I decided to look back at how the market was in mid-February 2022, when we held the event along with the Port of Tampa Bay last year. So join me for a […]

SMU’s sheet prices slipped again this week. But some market participants predicted that sheet was at or near a bottom. The anticipation of that bottom appeared to pull some big buyers off the sidelines. Large purchases from some pulled the low end of our hot-rolled coil range below $600 per ton ($30 per cwt) and […]

By CRU Research Analyst Aaron Kearney-Keaveny, from CRU’s Steelmaking Raw Materials Monitor The CRU metallics price indicator (CRUmpi) for November fell by 3.5% month-on-month (MoM), to 298.3, which is the lowest level since December 2020. Global scrap demand continues to be undermined by weak steel market fundamentals in key markets. Over the past few months, […]

Prices of steelmaking raw materials moved in differing directions over the last 30 days, as they did the month prior, according to Steel Market Update’s latest analysis. Through the latest data available as of Nov. 16, pig iron and aluminum increased 7% in the last month, coking coal prices rose 6%, and zinc prices increased 4%. […]

By CRU Senior Analyst, Puneet Paliwal, from CRU’s Scrap, DRI/HBI & Pig Iron Monitor The CRU metallics price indicator (CRUmpi) for November fell by 3.5% month-on-month (MoM), to 298.3, which is the lowest level since December 2020. Global scrap demand continues to be undermined by weak steel market fundamentals in key markets, causing prices to stay […]

Prices of steelmaking raw material moved in differing directions over the last 30 days, according to Steel Market Update’s latest analysis. Through the latest data available as of Oct. 27, coking coal prices increased 15% over the last month, aluminum prices rose 8%, and zinc prices increased 2%. Pig iron prices remained stable. Busheling scrap […]

By CRU Senior Analyst, Puneet Paliwal, from CRU’s Scrap, DRI/HBI & Pig Iron Monitor Global scrap prices stay subdued while those of ore-based metallics have found some support. Overall metallics demand continues to be hampered by the steel market weakness, a trend which may sustain through the short term, particularly in Europe. The CRU metallics price […]

We’ve seen a wave of mill idlings and outages this fall. But steel buyer reaction to date has been subdued. The yawn now in response to all those tons coming out of the market stands in stark contrast to the almost hysterical reaction to downtime at even the smallest producers in early 2021. Remember the […]

Prices for each of the steelmaking raw materials tracked in this SMU analysis decreased over the last 30 days, further declining from the record-high levels seen in March and April. Through the latest data available as of Sept. 21, zinc prices decreased 12% in the last month, busheling scrap and aluminum prices fell 7%, pig […]

Prices for five of the seven steelmaking raw materials tracked in this SMU analysis decreased over the last 30 days, further declining from the record levels seen in March and April. Through the latest data available as of August 31, pig iron prices decreased 38% in the last month, busheling scrap prices fell 14%, aluminum […]

Steel Market Update sources report ferrous scrap prices declined as much as $70 per gross ton from July to August, the fifth consecutive month of declines since March–April’s record high prices. Prime scrap fell by $70 per ton from the month prior, while obsolete grades declined $15–40 per ton. For the first time since late-2020, […]

Prices for all seven of the steelmaking raw materials tracked in this SMU analysis declined over the last 30 days, receding further from record-high levels seen in March and April. Through the latest data available as of July 27, coking coal prices decreased 56% compared to one month prior, pig iron and busheling scrap prices […]

Steel Market Update sources reported ferrous scrap prices fell significantly in July, the third consecutive month of declines since peaking in March and April. Prime grades declined as much as $150 per gross ton, while obsolete grades decreased $30-50 per ton. Scrap prices are now in line with levels seen in the first two months […]