Final Thoughts: What just happened and where to go from here?
As HRC prices struggle to find a bottom, mills are unlikely to provide any relief to the scrap industry.
As HRC prices struggle to find a bottom, mills are unlikely to provide any relief to the scrap industry.
Market dynamics unleash fury: Ferrous fades as non-ferrous copper roars.
The consensus for ferrous scrap is sideways, maybe not a strong sideways this month.
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 […]
Non-ferrous recycled metals supply slump continues, but for how long? And ferrous recycled metals forecast to be cloudy for May.
Soft-to-strong sideways headed into April?
Insights, Skepticism, and predictions from industry insiders.
Is the ferrous scrap market potentially signaling an industry recession?
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.
Everyone knows the old saying that “a picture is worth a thousand words.” Just because it’s a cliché doesn’t mean that it’s wrong. A lot of inked has been spilled trying to figure out why prices are falling now. I thought it might be as simple as this: Market dynamics in the fourth quarter (UAW strike, companies buying ahead of an anticipated post-strike price spike, etc.) pulled forward restocking activity that typically happens in the first quarter. The post Final thoughts appeared first on Steel Market Update.