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...
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.
SMU’s October ferrous scrap market survey results are now available on our website to all premium members.
Most steelmaking raw material prices held steady or ticked higher over the past month
US busheling scrap prices have declined this month, while shredded and HMS tags have remained unchanged, according to market sources.
The scrap market in the US for September shipment has started to settle, with busheling seen down so far.
Most steelmaking raw material prices we track saw little change across the month of August. Iron ore, pig iron, shredded scrap, busheling scrap, zinc, and aluminum prices all held relatively steady,
The scrap market traded sideways again in August with little change expected in September, according to sources.
Prices for four of the seven steelmaking raw materials we track were unchanged from late June through the end of July, while two increased and one declined. Collectively, these material prices rose 1% month over month (m/m), but are down 3% compared to three months ago.
Ferrous scrap prices are flat in the US for a second consecutive month, but tariffs on imports of Brazilian pig iron could change the game in August.
According to our latest analysis, prices for four of the seven steelmaking raw materials we track declined from May to June. Collectively, these materials declined 3% month over month (m/m) and are down 9% compared to three months ago.
Ferrous scrap prices in the US have remained stable from May to June.
Ferrous scrap outlook for June appears on the upswing.
According to our latest analysis, prices for four of the seven steelmaking raw materials we track increased from April to May. However, select materials saw a collective 1% decline month over month and are down 4% compared to three months ago.
Domestic scrap prices tumbled across the board in May, but will June prove a bottom for the market?
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.
United Airlines raised eyebrows earlier this month when it provided two forecasts for 2025 – one assuming a relatively stable economy and another assuming a recession. The reason? Uncertainty around the impact of President Trump’s policy shocks on the broader economy. And it sometimes feels like we’re seeing a battle between those two narratives (stable vs recession) play out within in the pages of this newsletter.
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 […]
Prices for five of the seven steelmaking raw materials tracked by SMU increased from February to March, according to our latest analysis.
Ferrous scrap prices rose across the board in March as the market adapted to short supply and the volatile tariff situation, sources told SMU.
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.
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.
Prices for six of the seven steelmaking raw materials SMU tracks are increased from January to February, according to our latest analysis.
The February scrap market has settled higher on all grades SMU covers.
Prices for the seven steelmaking raw materials SMU tracks moved in differing directions from December to January, according to our latest analysis.
US scrap tags rose for all the grades tracked by SMU in January in what was deemed a "restocking rally," sources said. The January market was up ~$20 per gross ton (gt) across the board. This did not include turnings, which were up $30/gt.
The US domestic ferrous scrap market had a rough 2024, despite optimism as the year started.
Prices were stable to down in November for all seven steelmaking raw materials tracked by SMU, according to our latest analysis.