US scrap receipts shrink
In 2023, the US economic performance has exceeded expectations. The Bureau of Economic Analysis reports an estimated real GDP growth of 2.5% for 2023.
Section: Analysis
Cunext to build 100,000 t/y secondary smelter in Spain
Market contacts have noted a reduction in the availability of refinery-grade (#2) scrap in January. This follows a slight improvement in December, as export markets were less attractive to European scrap dealers due to the freight disruption that has resulted from the conflict in the Red Sea.
Scrap prices stayed subdued across Asia on weak restocking
Scrap prices were flat-to-down m/m across major Asian consuming markets as buyers resisted fresh purchases ahead of holidays in China and Southeast Asia as well as on weak demand stemming from reduced steel mill utilisation rates.
European scrap prices mostly stable in a balanced market
European scrap prices were mostly unchanged m/m in February because weak demand was relatively balanced by limited supply.
Scrap prices edge down in the US, while remain steady in Brazil
US scrap prices fell again this month, as ample availability and tepid demand put downward pressure on the market
Scrap prices hit by weak demand offsetting tight supply
Supply decreased for both scrap and pig iron due to seasonal factors, but availability remained ample amid tepid demand in a challenging steel market.
Turkish buyers hold off purchases amid demand uncertainty
Turkish scrap import prices decreased last week.
Global scrap prices likely to end Q1 on a weak note
Scrap prices are expected to remain mostly stable across key markets in March
Tampa Steel: Garcia lays out Algoma Steel’s path forward
Algoma Steel is currently navigating a challenge as it deals with an unplanned outage at its blast furnace, but the company’s CEO is still bullish on its future as an EAF steelmaker. The post Tampa Steel: Garcia lays out Algoma Steel’s path forward appeared first on Steel Market Update.
Scrap prices remained rangebound at the start of 2024
Scrap prices were flat-to-down in major regions on the back of additional supply and slow demand. Asian prices started 2024 on a better footing than those in Europe and the USA. Scrap prices typically rise in January due to tighter supply of both prime and obsolete grades of scrap. However, steady automotive production and a […]