Domestic scrap prices are expected to fall in May, market sources told SMU. “Despite decent domestic demand, the recent and apparently continuing drop in the global scrap price will pressure US prices in May,” one market source said. “The global market for finished steel and semis is oversupplied, and Turkish demand is in a holding […] The post Lower Global Scrap Prices Seen Pressuring US Tags appeared first on Steel Market Update.
We’ve written in SMU about “green” steel and whether steel consumers, including market-leading OEMs, will pay a premium for it. What about the potential for premiums in scrap too? Maybe not for green scrap. But what about for “prime grade” or prime-equivalent shredded scrap? Shred that transforms into prime – maybe we could call it […] The post Final Thoughts appeared first on Steel Market Update.
March scrap prices have settled up across the board after extensive trading. As previously reported, mills were resistant and prices were up. With prime scrap reportedly hard to obtain, March prices settled up nearly $100 per gross ton above February, market participants said. And it doesn’t appear this prime scrap rally is ending this month. […] The post March Scrap Prices Shoot Up, Prime Up Nearly $100/ton appeared first on Steel Market Update.
March scrap trading is ongoing as of Friday, but prices are reportedly up. One scrap source said the reason behind the continued trading was pretty simple. “Yes, it’s taken too long,” the source said. “Market is up, and mills are resistant. Took a while to sort through things.” Regarding what he’s seeing in the market at […] The post March Scrap Trading Ongoing, But Tags Seen Up appeared first on Steel Market Update.
Steel market participants are bracing for prime scrap prices to rise in March, according to SMU’s most recent survey data. Approximately 82% of survey respondents think prime scrap prices will increase when prices settle later this month. Prices for obsolete grades are heating up as well, according to scrap sources contacted by SMU. One scrap market source […] The post March Scrap Tags Expected To Rise Significantly appeared first on Steel Market Update.
A wide majority of steel market participants expect prime scrap prices to climb in February, according to SMU’s most recent survey data. When polled if prime scrap prices would rise this month, 70% of respondents answered “yes” for the survey ended Thursday, compared with 68% in the survey that closed Jan. 19. Scrap market sources […] The post February Scrap Prices Expected to Rise appeared first on Steel Market Update.
We’ll kick off the Tampa Steel Conference next Sunday, and I’m looking forward to seeing many of you there in person. For kicks, I decided to look back at how the market was in mid-February 2022, when we held the event along with the Port of Tampa Bay last year. So join me for a […] The post Final Thoughts appeared first on Steel Market Update.
Scrap market prices increased in January month over month on poor flows in December and surging export demand, according to scrap executives. “Obsolete flows are down seasonally, and export prices have shown dramatic increases over the last month,” one scrap executive said. He said Detroit mills entered the market last week at prices up $60 per gross […] The post Scrap Prices Rise Boosted by Export Demand appeared first on Steel Market Update.
Turkish scrap import prices increase w/w Turkish scrap prices have been rising consistently since the end of 2022 and into the first week of 2023. Last week, we were reported two confirmed deals at the level of ~$396 /t for HMS 80:20, which were closed at the end of December. Since then, a total of […]
Turkish scrap import prices increase w/w The Turkish scrap market has continued the rebound and buying activity was more active last week. Our assessment for HMS 1/2 80:20 increased to $381 /t CFR on five fresh deals, up by $7 /t w/w and $31 /t m/m. Scrap prices(1) $/t11-Nov18-Nov25-Nov02-Dec09-DecHMS 1/2 80:20 CFR Turkey350339339374381Shredded CFR Turkey370359359394401Notes: (1) […]