Category: Market

A Detroit-area mill entered the scrap market on Friday afternoon with the following offers: The Chicago area followed suit: Mills in the Great Lakes region sensed there was ample supply of most grades. Also, they all bought heavily last month and so had sufficient inventories to make this move, market participants said. Still, the move surprised […] The post Detroit, Chicago enter Jan scrap mart with lower offers appeared first on Steel Market Update.

SMU polled steel buyers on a variety of subjects this past week, including purchasing practices, steel sheet prices, scrap, and the future market. The post Steel market chatter this week appeared first on Steel Market Update.

After a brief decline in the price of scrap for the Turkish market, which peaked in December at approximately $424 per metric ton (mt) for HMS 80/20, the market has bottomed at $405/mt on cargoes from Europe. The post Miller on scrap: Different paths for US, foreign exports appeared first on Steel Market Update.

Global metal recycler and steel producer Schnitzer Industries of the US posted a fiscal Q1 net loss of $18 M (€16.5 M) amid poorer prices and generally reduced shipments in the three months to 30 November. “Operating performance in the first quarter reflected sequentially tighter supply flows for recycled metals, which, together with lower average […]

Radius Recycling reported a net loss in its fiscal first quarter of 2024 on tighter supply flows for recycled metals and lower average selling prices for the company’s products. The post Radius Recycling posts quarterly loss on tight supply flows, lower tags appeared first on Steel Market Update.

Written by Marziyeh Horeh, Analyst, Aluminium Approaching the year-end, the US scrap market experienced a sluggish trend, primarily attributed to a widespread anticipation for 2024 as people engaged in significant stockpiling. The cautious sentiment stems from an excess of purchases in 2023, leading individuals to be extremely mindful of their inventories. On a macroeconomic level with […]

SMU doesn’t do forecasts. We leave that to our colleagues at CRU. But we’re pretty good at surveys, and we’ve got a great group of readers. That’s why we decided to ask you what’s in store for 2024. The results are below, along with some insightful comments in italics. The post Final thoughts appeared first on Steel Market Update.

Scrap prices majorly increased m/m in December with supply holding at low levels, as is seasonally expected, while demand strengthened, most noticeably in the USA. The sudden price rise was also seen in Europe, while Asian prices rose by a much lesser extent. Other metallics prices also increased. Scrap prices rise on western markets’ demand […]

As we look back at the scrap market for 2023, it basically followed its normal seasonal pattern. Most of the disruptive geopolitical events that riled ferrous raw materials occurred in 2022. So, with those things out of the way—or settling down at least for now—2023 resumed its normal pattern. The post Miller on scrap: 2023 in review appeared first on Steel Market Update.

Over the last two decades, the role of the scrap broker has been diminished in favor of steel mills purchasing their scrap requirements directly from scrap dealers. The post Miller on scrap: The diminished role of the scrap broker appeared first on Steel Market Update.