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.
I’d have been surprised if anyone told me just last week that the January scrap market might move lower. What we saw on Friday were offers. Not settlements. And no doubt there are still some twists and turns in store before we can say for sure which way scrap will go. The post Final thoughts appeared first on Steel Market Update.
SMU polled steel buyers on a variety of subjects this past week, including purchasing practices, steel sheet prices, scrap, and the future market. The post Steel market chatter this week appeared first on Steel Market Update.
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.
SMU doesn’t do forecasts. We leave that to our colleagues at CRU. But we’re pretty good at surveys, and we’ve got a great group of readers. That’s why we decided to ask you what’s in store for 2024. The results are below, along with some insightful comments in italics. The post Final thoughts appeared first on Steel Market Update.
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 […]
As we look back at the scrap market for 2023, it basically followed its normal seasonal pattern. Most of the disruptive geopolitical events that riled ferrous raw materials occurred in 2022. So, with those things out of the way—or settling down at least for now—2023 resumed its normal pattern. The post Miller on scrap: 2023 in review appeared first on Steel Market Update.
European scrap prices increased significantly in December as mills looked to secure supply ahead of the new year amid tight supply. Scrap prices in Europe currently range between €360 /t and €390 /t depending on the country and grade. European scrap prices rose substantially over the past month as mills looked to secure material ahead […]
The CRUmpi rose by 11.1% m/m to 334.4 in December, its highest value since April 2023. Moreover, the m/m percentage increase is the highest since April 2022 – when prices surged because of the supply disruption caused by the war in Ukraine. Europe and the USA led the sharp price upswing as scrap supply tightened […]