Leading voices in US the scrap industry discussed the current outlook and future challenges at Steel Summit 2023’s panel on Scrap and Metallics: Navigating the Boom in EAF Sheet Production. The post Steel Summit: US Scrap Industry Is Up to EAF Expansion Challenge appeared first on Steel Market Update.
Metals and electronics recycler Sims Ltd. reported lower earnings in its North America Metal division for its fiscal-year 2023 that ended June 30 due to “falling sales prices and strong domestic competition.” The post Sims’ FY’23 N. America Earnings Dip, But Touts Recent US Buys appeared first on Steel Market Update.
The US scrap market showed some stability in August, with prices mostly sideways on busheling and shredded grades, and HMS prices ticking up from the previous month, sources said. The post US Busheling, Shred Tags Level Off in August, HMS Up appeared first on Steel Market Update.
August could see US scrap prices stabilizing, or even rising, depending on the grade or region, scrap sources told SMU. The post Domestic Scrap Tags Could Rebound in August: Sources appeared first on Steel Market Update.
Steel Manufacturers Association (SMA) president Philip K. Bell will be joining as a panelist and presenter at the 2023 SMU Steel Summit Conference Aug. 21-23 in Atlanta. “I’ve been attending Steel Summit for over a decade, and each year it gets bigger and better,” Bell said in a sitdown with SMU. This year he will […] The post Steel Summit 2023 Speaker Focus: Philip K. Bell appeared first on Steel Market Update.
Domestic scrap prices fell for busheling and shredded grades in July, while tags were mostly sideways to slightly up on heavy melting scrap, sources said. “Between tight scrap supplies, slightly better-than-expected domestic demand in the South and Ohio Valley, and relatively stable export pricing, the market trended sideways for obsolete grades in those regions as well […] The post Bush, Shred Prices Down in July, HMS Mostly Sideways appeared first on Steel Market Update.
Next month is expected to bring some stability after months of falling scrap prices, with sources seeing the market as sideways. “The July market expectations are soft sideways,” one scrap source told SMU. “A stable export market combined with reduced inbound scrap flows should halt the recent run of large price drops.” He said that […] The post July Scrap Market Predicted To Be Sideways appeared first on Steel Market Update.
The government of South Africa is to prohibit foreign shipments of copper and carbon steel scrap for six months in an ongoing effort to curb the theft of metal infrastructure. Railway lines, electricity pylons and road barriers have been stolen, mostly for the metal to be exported, according to the police. The thefts have caused […]
Metallics prices have fallen in most global markets over the last month, driven by weak steel demand and improved metallics supply. Lower finished steel prices and EAF margins have weighed heavily on metallics prices across major markets. Scrap bids from key buyers have reduced further amid ample availability, while recent pig iron price cuts have […] The post CRU: Weak Demand Pushes Global Scrap Prices Down appeared first on Steel Market Update.
Domestic scrap prices continued to tumble this month on soft demand and strong inbound scrap flows, but the market could come into balance in July, sources said. “After this more-than-expected drop in prices for June, the market next month should be sideways at worst,” one source said. He noted that the export market remains firm and […] The post US Scrap Prices Sink in June on Weak Demand appeared first on Steel Market Update.