As we look back at the scrap market for 2023, it basically followed its normal seasonal pattern. Most of the disruptive geopolitical events that riled ferrous raw materials occurred in 2022. So, with those things out of the way—or settling down at least for now—2023 resumed its normal pattern. The post Miller on scrap: 2023 in review appeared first on Steel Market Update.
Over the last two decades, the role of the scrap broker has been diminished in favor of steel mills purchasing their scrap requirements directly from scrap dealers. The post Miller on scrap: The diminished role of the scrap broker appeared first on Steel Market Update.
The spread between hot-rolled coil (HRC) and prime scrap prices widened slightly this month, according to SMU’s most recent pricing data. The post HRC vs. busheling spread widens in December appeared first on Steel Market Update.
Steel is up again this week. Scrap is up by a lot this month: $85 per gross ton for busheling, by our calculations. The post Final thoughts 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.
The prices for all grades of pig iron have dramatically risen since SMU’s last report from Nov. 18. The post Miller on scrap: Pig iron market takes off appeared first on Steel Market Update.
ArcelorMittal Nippon Steel India (AM/NS India) is to establish three scrap-processing centres in anticipation of increasing difficulty meeting recycled steel requirements through imports. The company will invest around INR1 bn ($12 M, €11 M) to build a yard at its 9 Mt/y integrated works in Hazira (Gujurat), another at Ahmedabad (Gujurat) and a third in Khopoli (Maharashtra) […]
A large Detroit-area scrap buyer entered the market on Wednesday at significantly higher prices than a month earlier. The post Detroit-area scrap buyer offering up $30-50/gt for December appeared first on Steel Market Update.
The export market for ferrous scrap has been strengthening over the last month by a sizable margin. The post Miller on scrap: Export market prices rising appeared first on Steel Market Update.
Algoma Steel’s CEO Michael Garcia joined SMU Managing Editor Michael Cowden for a Community Chat on Wednesday, Nov. 29. A great discussion was had on topics ranging from plate pricing to decarbonization efforts, raw materials strategies, and more. The post SMU Community Chat: Algoma’s CEO talks prices, decarb, raw materials appeared first on Steel Market Update.