Section: News

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.

Industry newcomer Nth Cycle has commissioned its innovative Oyster refining plant in Fairfield, Ohio, to recover nickel and cobalt from metal scrap, electronics waste, untapped mining resources and refinery waste. The recycling operation is based on the company’s patented electro-extraction technology which produces a mixed hydroxide precipitate (MHP) product, a first in the US according to Massachusetts-based […]

Join us for SMU’s next Community Chat webinar with Wolfe Research managing director Timna Tanners. The webinar will be held on Wednesday, July 12, at 11 am ET. It’s free for all to attend. A recording will be available to SMU members. You can register here. We’ll talk about what Tanners describes as “the myth […] The post Register Now for July 12 Community Chat With Timna Tanners! appeared first on Steel Market Update.

Romanian aluminium company Alro is to increase recycling potential by 60,000 t/y following installation of two double-chamber furnaces, a holding furnace and associated fume collection and treatment plant at Slatina. Though high energy prices have forced the company to cut back on primary aluminium production, its other commitments remain unchanged, according to chairman Marian Nastase […]

New orders for manufactured durable goods increased for the third consecutive month in May, increasing 1.7%  from the previous month to $288.2 billion, according to the US Census Bureau. This follows a 1.2% month-over-month (MoM) gain in April, according to Census data. Transportation equipment is also up three consecutive months, up 3.9% to $102.6 billion. The bureau said that […] The post Durable Goods Up in May, Third Straight Increase 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.

Companies should keep a watchful eye on pricing and lead times, according to members of the Heating, Air-Conditioning & Refrigeration Distributors International (HARDI) speaking on the June 27 meeting of its Sheet Metal/Air Handling Council. During May’s meeting, most HARDI participants thought that prices would continue to drop. Over half of the individuals thought it […] The post HARDI Members on Sidelines, Cautiously Watching Market appeared first on Steel Market Update.

Secondary lead producer Hakurnas has agreed to install ACE Green’s recycling technology at its plant in Ashdod in Israel to improve its environmental performance. After the initial breaking of lead battery scrap, the conventional second step to recover the lead is smelting via a furnace that operates at high temperatures and produces significant GHG emissions […]

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 […]

The spread between hot-rolled coil (HRC) and prime scrap prices narrowed further in June, according to Steel Market Update data. Both the averages of SMU’s HRC and busheling scrap prices slipped this week. Our HRC average fell $5 per net ton week-over-week to sit at $930 per ton ($46.50 per cwt) as of Tuesday, June 13.  Meanwhile, after settling, […] The post HRC, Prime Scrap Price Spread Narrows Again in June appeared first on Steel Market Update.