Ferrous market shapes up with Detroit buy
After a considerable wait, the market for ferrous scrap for May shipment has started to form.
After a considerable wait, the market for ferrous scrap for May shipment has started to form.
It’s mid-April and that means it’s time for the ISRI 2024 convention in Las Vegas. There is a great mix of attendees from all over the world, with a record total attendance of 6,624. Congratulations to the ISRI Team on this. Many of these businesses are small startups who are seeing the recycling industry as […]
With intriguing spreads between regions and a potential to curb price surges, #1 HMS might just be the unsung hero of the industry's future.
Is the ferrous scrap market potentially signaling an industry recession?
US ferrous scrap prices fell steeply in March for HMS, shredded, and prime scrap, sources told SMU. “The March ferrous market was considerably softer due in general to better-than-expected inflows in February, less demand from US mills thanks to falling finished steel prices, and less demand from lackluster markets overseas,” one scrap source said. The […]
In a surprising turn, a Rocky Mountain mill resumed its purchasing program at half its normal capacity, signaling potential stabilization in the Texas/Gulf region for the upcoming month.
The drop in its offer prices was larger than most industry observers had forecast, especially for shredded scrap.
Even though it’s the fifth of the month, there have been no confirmed purchases by domestic steelmakers. Rumors are circulating about how low prices will drop. Most of the scrap community is forecasting a $50/gt drop for #1 busheling, with shredded and P&S at perhaps $40/gt.
"Longs sales are at a standstill," said one producer.
US scrap prices fell again this month, as ample availability and tepid demand put downward pressure on the market