According to the latest Commitments of Traders Report published Tuesday and covering positions up to April 5, the net long position by investment funds increased significantly to 56,200 lots.
Non-ferrous recycled metals supply slump continues, but for how long? And ferrous recycled metals forecast to be cloudy for May.
With intriguing spreads between regions and a potential to curb price surges, #1 HMS might just be the unsung hero of the industry's future.
Spreads tightening. Economic outlook is promising.
April's scrap market defies expectations with unexpected trends and surprising stability.
“Without question, current conditions in the scrap markets remain challenging,” Tamara Lundgren, chairman and CEO, said.
US steelmakers opt for sideways pricing in April, defying speculation. Great Lakes mills settle for a 'strong' sideways move influenced by export activity, with other regions likely to follow suit.
Soft-to-strong sideways headed into April?
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The index is now at the highest level recorded since September 2022.