Tag: Ferrous Scrap

The export situation from the US East Coast was interrupted last week after a political event in Turkey.

The US scrap market is in for another unpredictable ride going into April. Questionable scrap flows, extended winter weather, and implications of tariffs on steel and scrap continue to have an impact.

The HRC vs. prime scrap spread increased again in March.

Ferrous scrap prices rose across the board in March as the market adapted to short supply and the volatile tariff situation, sources told SMU.

The companies said Thursday that Radius shareholders will receive $30 per share in cash upon the deal’s closing, which is expected in the second half of this year.

“The next months are going to be good ones for pig iron producers," according to one source.

After an unusually long period of waiting for the March scrap market settlements, several mills are now actively buying ferrous scrap. And it looks like prices are ticking up.

Domestic shredded scrap has experienced a renaissance in pricing since January. And that increase had caused traditional exporters to ship their material to domestic users instead of overseas. But with recent changes, this cycle may end with the resurgence of export demand and continued foreign exchange fluctuations.

The situation on ferrous scrap has cleared up with the pause of the implementation of Canadian and Mexican blanket tariffs.

In the final week of February, SMU polled steel and scrap executives to gather their insights on the current state of the scrap market as well as future projections.

These tariffs would significantly increase costs for American manufacturers that rely on Canadian metals. They would also disrupt supply chains and weaken economic ties that have benefited both nations for decades.

SMU’s ferrous scrap market survey results are now available on our website to all premium members. After logging in at steelmarketupdate.com, visit the pricing and analysis tab and look under the “survey results” section for “ferrous scrap survey” results. Past flat-rolled survey results are also available under that selection. If you need help accessing the […]

Input costs have been driven higher by tighter supplies and restricted flows after a tough winter. Could rising demand from mills fuel an extended rally into Q2? Shredder feed has been strained as shredders try to fill backlogs. And shredded prices could jump by $50 per gross ton (gt) this month, some suggest. It's a similar story with prime grades. That's because industrial generation is down, and hot-rolled coil production is picking up.

The main impact of tariffs on scrap prices would be felt in Northern states - and especially among those along the Canadian border. Many steelmakers in this area receive a substantial portion of their monthly scrap charge from Canadian processors. Much of it is prime scrap used by hot-rolled (HR) coil producers.

As February comes to a close this week, the scrap markets are poised for another – and perhaps more extreme – move upward in March. March is usually a month when scrap prices relent as winter’s impediments subside. That’s not the case this year. And this time, the driver of prices will be increased demand from mills along with restricted flows over the last two months.

Buyers are optimistic for a strong scrap market in March, driven by limited scrap inflows from severe weather disruptions and increasing mill demand.

SMU's Stephen Miller provides an update on the raw materials sector.

An update on the US scrap export market.

The CRU Metallics Price Indicator (CRUmpi) rose by 5.0% m/m in February to 293.7, a five-month high. Scrap prices increased in different degrees this month, reflecting the confidence level in the steel market across different regions. While US scrap prices rose sharply m/m due to limited availability, those in Europe and Asia had only small […]

The ferrous scrap market in the US and Canada is trying to find its way through difficulties that could well determine its direction over the next several months.

The price spread between hot-rolled coil (HRC) and prime scrap widened in February ahead of the implementation of President Trump’s tariffs on steel.

The February scrap market has settled higher on all grades SMU covers.

A comparison of the current cost of pig iron vs. busheling scrap.

An exciting first look at the results from SMU's first scrap survey.

SMU’s inaugural ferrous scrap market survey results are now available on our website to all premium members. After logging in at steelmarketupdate.com, visit the pricing and analysis tab and look under the “survey results” section for “latest survey results.” Past flat-rolled survey results are also available under that selection. If you need help accessing the survey results, or […]

The reprieve for Canadian and Mexican tariffs this week has left some uncertainty for the February scrap market, with some sources pointing towards a $20-per-gross-ton (gt) increase.

The scrap and metallics market has reacted to the tariffs potentially being implemented on our neighbors to the north and south. These could have a serious impact on the market, especially on Canada, unless these products are exempted.

The US scrap market sentiment has become more bullish over the last week. Many districts are telling SMU that the potential rise in prices will exceed the earlier estimate of $20 per gross ton (gt).  Several sources have pegged the February market as up $30-50/gt. Here are several regional viewpoints from the trade: In the […]

Nucor’s raw material segment generated an annual profit of $57 million in 2024. This marked a swing to profit over 2023 when Nucor reported a $14-million loss for the segment. The Charlotte, N.C.-based company did not say in their earnings call on Tuesday what caused this increase besides a 20% increase in the production and […]

A majority of SMU survey respondents expect US prime scrap tags to land sideways in February. In our most recent survey last week, 51% said US prime scrap prices would be flat next month, and 46% anticipate rising prices; the small remainder think prices will fall. Recall that the January ferrous scrap market settled before […]