Scrap Sources: Automotive

The General Motors Co. (GM) recently recognized its top suppliers at its annual Supplier of the Year event in San Antonio, Texas. The Supplier of the Year award honors outstanding international suppliers who exceed GM’s requirements. Among the award winners were steelmakers Cleveland-Cliffs Inc., Nucor Corp., and Companhia Siderurgica Nacional (CSN). “We are thrilled to […] The post Steelmakers Named in GM’s Top Suppliers Awards appeared first on Steel Market Update.

What’s perhaps most shocking about Cleveland-Cliffs starting the week up $100 per ton ($5 per cwt) on sheet and targeting $1,200 per ton for hot-rolled coil (HRC) is that many of you didn’t find it shocking. In early February, we got used to prices going up by $50 per ton from one week to the […] The post Final Thoughts appeared first on Steel Market Update.

SMU’s hot-rolled coil price has cracked $800 per ton ($40 per cwt), and so have prices on the futures market. The question of whether the $800-per-ton threshold would be breached has been answered. But it’s still unclear to me whether that threshold was breached by solid underlying demand or by momentum (buying ahead of the next […] The post Final Thoughts appeared first on Steel Market Update.

Indian lead and aluminium producer Gravita has started commercial production of aluminium cast alloys at a new recycling plant in Togo, West Africa.  “The company has been sourcing scrap from Togo for the last three years and has set up a strong scrap collection network before establishing the plant,” it said in a Bombay Stock […]

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.

Greenwave Technology Solutions Inc. is significantly expanding its operations with two new metal recycling facilities, new trucks, and an online car buying program.  The Suffolk, Va.-based recycler currently operates 11 facilities in Virginia and North Carolina through its subsidiary Empire Services Inc. This month, its 12th facility will open in Fairmont, N.C., and in December, a […] The post Greenwave Expanding Metal Recycling Capabilities appeared first on Steel Market Update.

By CRU Senior Analyst, Puneet Paliwal, from CRU’s Scrap, DRI/HBI & Pig Iron 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, causing prices to stay […] The post CRU: Key Global Metallics Prices Continue to Decouple appeared first on Steel Market Update.

By CRU Senior Analyst, Puneet Paliwal, from CRU’s Scrap, DRI/HBI & Pig Iron Monitor Global scrap prices stay subdued while those of ore-based metallics have found some support. Overall metallics demand continues to be hampered by the steel market weakness, a trend which may sustain through the short term, particularly in Europe. The CRU metallics price […] The post CRU: Metallics Prices Have Not Yet Bottomed appeared first on Steel Market Update.

We’ve seen a wave of mill idlings and outages this fall. But steel buyer reaction to date has been subdued. The yawn now in response to all those tons coming out of the market stands in stark contrast to the almost hysterical reaction to downtime at even the smallest producers in early 2021. Remember the […] The post Final Thoughts appeared first on Steel Market Update.

SMU contributor Bryan Tice is a partner at Metal Edge Partners, a firm engaged in Risk Management and Strategic Advisory. He and the firm design and execute risk management strategies for clients. They also provide process and analytical support. Before joining Metal Edge Partners, Bryan held commercial leadership roles involving purchasing, sales, and risk management […] The post Hot Rolled Futures: Black Smoke Rising appeared first on Steel Market Update.