The US scrap market has largely settled at prices most predicted in late March. The prevailing view then: shredded and other obsolete grades, like HMS, would drop $10-20 per gross ton (gt) despite higher transportation costs. And prime grades, like #1 busheling and bundles, would trade sideways thanks to better demand and static supply. This is essentially what has happened.
Since the middle of March I have been hearing that April scrap prices are going to be going down $20-$30 per gross ton (gt), with the exception of prime scrap, which is going to be sideways.
Prices for iron ore, aluminum, pig iron, and shredded scrap have all risen in the last 30 days. Busheling scrap held steady, while zinc and coking coal declined.
The US scrap market softened in March as most grades traded sideways, with prices seen falling next month, sources told SMU.
US ferrous scrap prices continued to rise in February, scrap sources told SMU.
US ferrous scrap prices rise in February.
The US domestic scrap market is largely settled on February pricing. Despite poor weather conditions that have been wreaking havoc on scrap flows and deliveries to consumers, the pricing initially agreed between dealers and steelmakers has been fairly conservative.
SMU’s February ferrous scrap market survey results are now available on our website to all premium members.
All but one of the steelmaking raw materials we track increased in price over the last month
Speculation has already begun on what February has in store for the US scrap market after it rose $20-30 per gross ton (gt) in January,
Ferrous scrap prices jumped on all the products SMU tracks in January, scrap sources said.
The formation of the domestic scrap market for January shipments is underway and only partially settled as of this article's publication. The main point of contention is the price of #1 busheling and bundles.
US ferrous scrap prices have picked up in December, sources told SMU.
A steelmaker in the Southeast has entered the market for shredded, P&S, and HMS at prices of $20/gt over November.
Most steelmaking raw material prices remained stable over the past month. Prices are mixed in comparison to this time last year.
November ferrous scrap prices landed even with October as the market settled, sources told SMU.
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.