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Domestic scrap tags soar in December
US scrap prices shot up in December and are expected to continue their rise in January, market sources told SMU. The post Domestic scrap tags soar in December appeared first on Steel Market Update.
US scrap prices shot up in December and are expected to continue their rise in January, market sources told SMU. The post Domestic scrap tags soar in December appeared first on Steel Market Update.
Buffeted by the cold winds of adverse steel market conditions, ArcelorMittal plans to close down its integrated-based longs business in South Africa. But the company will first conduct due diligence and hold discussions with unions and other stakeholders. Up to 3,500 jobs, including contractors’, are at risk. Aggressive cost savings, improved raw material terms, asset […]
Virginia-based metal recycler Greenwave Technology Solutions revealed its financial troubles in its 10-Q quarterly report released on Nov. 14. The post Greenwave Posts Another Quarterly Loss, Financial Troubles Build appeared first on Steel Market Update.
Domestic scrap prices rose in November month over month for all grades that SMU covers, market sources said. The post US Scrap Tags Up in November, Momentum Could Carry Into February appeared first on Steel Market Update.
Russia’s Rusal says it has now taken use of aluminium scrap in cast alloys made for the automotive industry up to 30%. “By introducing end-of-life scrap into production of foundry alloys, Rusal creates new opportunities for companies to strengthen their potential in a low-carbon circular economy,” said Rusal’s sales and marketing director Roman Andryushin. Starting […]
The iron and steel foundry industries consume about 17% of the ferrous scrap in the US each year. They purchase several grades of scrap in common with steelmakers, such as shredded and turnings. But, most of the grades are much more restrictive than what larger mills require. The post Ferrous Scrap: The Iron Foundry Market appeared first on Steel Market Update.
As the ferrous scrap market in the US enters the home stretch for 2023, it faces an array of issues and uncertainties. The post November Scrap Tags Seen Mostly Sideways, Sources Say appeared first on Steel Market Update.
A large Detroit-area scrap buyer has settled scrap tags for October, with busheling scrap sideways, a source told SMU. The post October Busheling Scrap Tags Flat at Large Detroit-area Buyer: Sources appeared first on Steel Market Update.
Some of the movements in scrap and pig iron pricing over the past 18-24 months have been quite drastic. The post Scrap Insight: Scrap Optimization as a Hedge on Pig Iron Usage? appeared first on Steel Market Update.
The US scrap market for October is a bit unsettled as the UAW strike against the Big Three automotive companies has expanded and shows scant signs of an imminent settlement. The post Scrap Insight: All Eyes on UAW as ‘Unsettled’ Oct. Trade Approaches appeared first on Steel Market Update.