Domestic scrap prices ended up down slightly after a roller coaster of trading in January, scrap sources told SMU. The post January scrap prices slip less than initial offers appeared first on Steel Market Update.
Scrap prices rose m/m in South Korea and China due to mills' restocking purchase while these stayed unchanged in Southeast Asia and Japan because of slow market activity. Chinese scrap prices rose to RMB3,060 /t in early January, recording a 150 /t m/m growth. This was mainly due to mills' winter restocking purchase for scrap […]
Suez Canal disruption keeps scrap local in Europe There has been an increase in freight rates and shipping times as a result of hostilities in the Red Sea which has forced shipments between Europe, the Middle East and Asia to take longer routes around South Africa. This has led to improved availability of scrap in […]
I’d have been surprised if anyone told me just last week that the January scrap market might move lower. What we saw on Friday were offers. Not settlements. And no doubt there are still some twists and turns in store before we can say for sure which way scrap will go. The post Final thoughts appeared first on Steel Market Update.
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.
New Delhi has abandoned plans to privatise the Salem Steel Plant in Tamil Nadu state because of a lack of investor interest. “Multiple EoI [expressions of interest] had been received and bidders were shortlisted,” the Press Trust of India news agency reported the department of investment and public asset management as saying. “However, due to […]
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 […]
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 […]
European scrap prices increased significantly in December as mills looked to secure supply ahead of the new year amid tight supply. Scrap prices in Europe currently range between €360 /t and €390 /t depending on the country and grade. European scrap prices rose substantially over the past month as mills looked to secure material ahead […]
Rising export prices, coupled with tight supply and stronger order books, pushed the US scrap market higher m/m. While some markets are still unsettled at the time of writing, buyers were opting to secure material on a TBD basis. At the same time, dealers are working to ship orders before the seasonal holidays. Although […]