Product
January 14, 2025
Written by Ethan Bernard
US scrap tags rose for all the grades tracked by SMU in January in what was deemed a “restocking rally,” sources said.
The January market was up ~$20 per gross ton (gt) across the board. This did not include turnings, which were up $30/gt.
Private equity firm SCF Partners announced it has acquired American Piping Products (APP), a pipe and tube distributor headquartered in Chesterfield, Mo.
Sheet and plate prices continued to tick mostly higher this week amid a supply squeeze that shows no signs of loosening its grip on the US market.
The current plate market squeeze has been driven by improved demand and heightened import barriers, including 50% Section 232 tariffs. But the timing of fall outages—even if they were planned—is exacerbating the supply crunch.
U.S. Steel held a ceremonial groundbreaking on Monday for its new $475-million quench-and-tempering facility at its Fairfield Tubular Operations in Alabama.
The scrap market for October is looking for direction as some participants on both sides of the furnace are indicating scrap prices are poised for an increase.