Contributor: Aaron Kearney-Keaveny

Supply and demand winding down as weather and holiday disruptions hit major recycled metals markets.

Scrap price falls have continued, now affecting all major markets. Previously, the market weakness was due to macroeconomic concerns but is now due to weak steel demand. Turkish scrap buying has been underwhelming, while Chinese scrap consumption has been reeling back as the steel outlook turns sour. Poor Steel Demand and Production Weigh on Scrap […] The post CRU: Scrap Prices Fall as Demand Outlook Falters appeared first on Steel Market Update.

By CRU Research Analyst Aaron Kearney-Keaveny, from CRU’s Steelmaking Raw Materials Monitor The CRU metallics price indicator (CRUmpi) for November fell by 3.5% month-on-month (MoM), to 298.3, which is the lowest level since December 2020. Global scrap demand continues to be undermined by weak steel market fundamentals in key markets. Over the past few months, […] The post CRU: Scrap Prices Continue Fall, Decouple From Other Metallics appeared first on Steel Market Update.

By CRU Research Analyst Aaron Kearney-Keaveny, from CRU’s Steelmaking Raw Materials Monitor The CRU metallics price indicator (CRUmpi) rose by 2.2% month-on-month (MoM) to 312.3, following four continuous months of decline since May 2022. This MoM rise in the CRUmpi was specifically driven by a sharp rebound in Asian scrap prices while European prices stabilized. […] The post CRU: Scrap Prices Lift from Restocking, But Less Than Expected appeared first on Steel Market Update.