Hoffman: Export and Asia markets impact US domestic scrap markets
The wild cards in some price negotiations are Bangladesh and India.
The wild cards in some price negotiations are Bangladesh and India.
Excess supply has lasted longer than expected for both flatbed and dry van, resulting in rates remaining lower than for longer than anticipated.
Pig iron produced in Brazil had been on an upswing in early April, after a decrease in March.
increasing scrap usage in steelmaking – will play a significant role in reducing emissions from steel production globally, but CRU does not see this as a panacea for the decarbonization of the steel industry.
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“Without question, current conditions in the scrap markets remain challenging,” Tamara Lundgren, chairman and CEO, said.
As we enter the final week of the month, there seems to be growing hope that the U.S. scrap market has bottomed.
For April, a majority of respondents said they expect ferrous scrap prices to rise.
The LME aluminum price has overcome an important resistance level at $2,300/mt but it remains to be seen if support can be built above that level.
The flatbed market for spot rates is showing signs of improvement as we move through the new year.