BREAKING NEWS: Detroit-area mill offers March scrap significantly lower
The drop in its offer prices was larger than most industry observers had forecast, especially for shredded scrap.
The drop in its offer prices was larger than most industry observers had forecast, especially for shredded scrap.
Monthly SRU survey finds near-term ferrous prices could fall
Non-ferrous scrap spreads remained tight amid ongoing global shipping constraints, raising concerns.
While the sale of aluminum scrap is declining, there's a surge in demand from consumers.
Aluminum Roundup: IAI reports aluminum industry greenhouse gas emissions declined in 2022
"Longs sales are at a standstill," said one producer.
Pittsburgh-based aluminum company Alcoa wants to acquire its Australian partner, Alumina Limited, in an all-stock deal valued at $2.2 billion.
For the West Coast export market, Tet/Chinese New Year ended on Monday and buyers were just coming back to the market.
In 2023, the US economic performance has exceeded expectations. The Bureau of Economic Analysis reports an estimated real GDP growth of 2.5% for 2023.
Market contacts have noted a reduction in the availability of refinery-grade (#2) scrap in January. This follows a slight improvement in December, as export markets were less attractive to European scrap dealers due to the freight disruption that has resulted from the conflict in the Red Sea.