Tag: Export

Non-Ferrous Scrap Metal Market Review

With more EV companies opening in Mexico, what could this mean for the US? And what could this do to our relationship with our largest trading partner?

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.

Non-ferrous scrap spreads remained tight amid ongoing global shipping constraints, raising concerns.

For the West Coast export market, Tet/Chinese New Year ended on Monday and buyers were just coming back to the market.

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.

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.

Trade body Seifsa has revived its call for the government to end prohibition of scrap metal exports, saying it is threatening the whole industry with collapse.

The government of Kazakhstan intends to prolong prohibition of foreign shipments of steel scrap and waste in order to support the domestic economy. “The decision was made collectively against the backdrop of the situation that has arisen due to the lack of raw materials for local processing enterprises and the restrictive measures on the export […]

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.