Tag: Ferrous Scrap

A large Detroit-area scrap buyer has settled scrap prices for November, with busheling, shredded, and plate and structurals (P&S) all notching gains vs. October, a scrap source told SMU.

The announcement that Republic Steel in Canton, Ohio, is going to permanently cease operations disappointed many scrap suppliers in Ohio and Pennsylvania.

The ferrous export market in the US has experienced several geopolitical events and natural disasters during 2023.

Radius Recycling thinks that an end to the UAW strike could relieve pressure on a tight domestic scrap market. Scrap supplies have fallen because of lower manufacturing, construction, and demolition activity as well as “the slowing economy overall,” Radius chairman, president, and CEO Tamara Lundgren said. Inflation and higher interest rates have contributed to that […]

As the ferrous scrap market in the US enters the home stretch for 2023, it faces an array of issues and uncertainties.

Subcontractors for U.S. Steel in Indiana stole ~20 million pounds of scrap valued at ~$2 million over a two-year period.

River Metals Recycling (RMR), a subsidiary of Nucor, has acquired all the Cincinnati-based assets of Garden Street Iron & Metal.

The spread between hot-rolled coil (HRC) and prime scrap prices widened slightly this month, according to SMU’s most recent pricing data.

The pig iron trade is an important element to the US steel and foundry industry.

Prime scrap prices were unchanged in October month over month, following a large Detroit-area buyer's lead, according to market sources.

A large Detroit-area scrap buyer has settled scrap tags for October, with busheling scrap sideways, a source told SMU.

Some of the movements in scrap and pig iron pricing over the past 18-24 months have been quite drastic.

While the ongoing United Auto Workers (UAW) strike hasn’t had a significant impact on the scrap market, the strike's expansion to stamping plants could hit supply, sources tell SMU.

The US scrap market for October is a bit unsettled as the UAW strike against the Big Three automotive companies has expanded and shows scant signs of an imminent settlement.

The United Auto Workers (UAW) union has more leverage than the Detroit Three automakers in the current strike that started Sept. 15, according to Jason Schenker, president of Prestige Economics.

Domestic scrap prices for shredded and HMS were sideways in September vs. August. However, busheling fell precipitously during the month, according to scrap sources surveyed by SMU.

Scrap sources had a mixed outlook for US scrap prices for September.

Leading voices in US the scrap industry discussed the current outlook and future challenges at Steel Summit 2023’s panel on Scrap and Metallics: Navigating the Boom in EAF Sheet Production.

Metals and electronics recycler Sims Ltd. reported lower earnings in its North America Metal division for its fiscal-year 2023 that ended June 30 due to “falling sales prices and strong domestic competition.”

Sims Metal is expanding its extensive network of scrap recycling facilities in the US with the addition of Baltimore Scrap Corp. (BSC).

Despite reporting the third highest quarterly revenues in its history, Greenwave Technology Solutions still posted a loss for the quarter ended June 30.

The US scrap market showed some stability in August, with prices mostly sideways on busheling and shredded grades, and HMS prices ticking up from the previous month, sources said.

The summer cycle has brought more focus around the uncertainty of where HR prices are headed.   Spot indexes continue to bleed lower despite price hikes from sheet mills. Market talk is of still lower prices as the gap grows between the slow-moving index versus expectations for HR future prices declines. (The index likely reflects smaller, […]

August could see US scrap prices stabilizing, or even rising, depending on the grade or region, scrap sources told SMU.

Steel Manufacturers Association (SMA) president Philip K. Bell will be joining as a panelist and presenter at the 2023 SMU Steel Summit Conference Aug. 21-23 in Atlanta. “I’ve been attending Steel Summit for over a decade, and each year it gets bigger and better,” Bell said in a sitdown with SMU. This year he will […]

US scrap prices fell across the board in May, and expectations are that June could move lower still on weaker global demand. “Domestic demand was generally decent aside from several mills in the Ohio Valley that had substantially reduced buy programs,” one scrap source said. “Ironically, Ohio is still home to the strongest ferrous scrap market […]

New calculations suggest that the lifespan of steel might be shorter than originally believed, according to a report released by the Steel Manufacturers Association (SMA). The report provides new calculations suggesting that the lifespan of steel is in the range of 25 to 35 years, rather than 40 years. The shorter lifespan increases the availability of […]

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 […]

By CRU Senior Analyst, Puneet Paliwal, from CRU’s Scrap, DRI/HBI & Pig Iron Monitor The CRU metallics price indicator (CRUmpi) for March rose by 7.4% month on month (MoM), to 357.7, which is its highest value since June 2022. Strong Turkish buying of scrap and pig iron since the second half of February is the key […]

The Biden administration has hit Russian pig iron as well as other steel and metal products with tariffs of up to 70%. The move was made with less fanfare than the 200% tariffs on Russian aluminum announced in a presidential proclamation last week. The tariffs were included in an annex attached to that proclamation. The […]