Scrap prices rose m/m in South Korea and China due to mills’ restocking purchase while these stayed unchanged in Southeast Asia and Japan because of slow market activity. Chinese scrap prices rose to RMB3,060 /t in early January, recording a 150 /t m/m growth. This was mainly due to mills’ winter restocking purchase for scrap […]
The US scrap trade was still being finalised at the time of writing, and the tug-of-war between mills and dealers left the market in limbo for several days. Detroit and Midwest mills initially entered the market with bids lower m/m for both prime and secondary grades, but dealers were pushing to keep prices flat. Ultimately, […]
I expected that we’d start off January with prime scrap prices modestly up if for no other reason than industrial activity typically slows down over the holidays. And mills’ appetite for scrap typically increases in anticipation of stronger Q1 order activity. The post Final thoughts appeared first on Steel Market Update.
Suez Canal disruption keeps scrap local in Europe There has been an increase in freight rates and shipping times as a result of hostilities in the Red Sea which has forced shipments between Europe, the Middle East and Asia to take longer routes around South Africa. This has led to improved availability of scrap in […]
After a brief decline in the price of scrap for the Turkish market, which peaked in December at approximately $424 per metric ton (mt) for HMS 80/20, the market has bottomed at $405/mt on cargoes from Europe. The post Miller on scrap: Different paths for US, foreign exports appeared first on Steel Market Update.
Global metal recycler and steel producer Schnitzer Industries of the US posted a fiscal Q1 net loss of $18 M (€16.5 M) amid poorer prices and generally reduced shipments in the three months to 30 November. “Operating performance in the first quarter reflected sequentially tighter supply flows for recycled metals, which, together with lower average […]
Radius Recycling reported a net loss in its fiscal first quarter of 2024 on tighter supply flows for recycled metals and lower average selling prices for the company’s products. The post Radius Recycling posts quarterly loss on tight supply flows, lower tags appeared first on Steel Market Update.
Written by Marziyeh Horeh, Analyst, Aluminium Approaching the year-end, the US scrap market experienced a sluggish trend, primarily attributed to a widespread anticipation for 2024 as people engaged in significant stockpiling. The cautious sentiment stems from an excess of purchases in 2023, leading individuals to be extremely mindful of their inventories. On a macroeconomic level with […]
Scrap prices majorly increased m/m in December with supply holding at low levels, as is seasonally expected, while demand strengthened, most noticeably in the USA. The sudden price rise was also seen in Europe, while Asian prices rose by a much lesser extent. Other metallics prices also increased. Scrap prices rise on western markets’ demand […]
Pig iron prices rose m/m for all major regions, driven by rising scrap prices. Supply has tightened in Brazil, extending lead times for US buyers. Additionally, higher domestic consumption in the CIS has restricted availability in Western Europe. In the CIS, pig iron prices increased $48 /t m/m to $385 /t FOB Black Sea. Higher […]