Tag: HMS

The US domestic ferrous scrap market had a rough 2024, despite optimism as the year started.

Ferrous scrap prices were largely rangebound to down at the November settle, market sources told SMU.

Scrap prices ticked up in October outside of Chicago and Detroit, scrap sources told SMU.

September scrap prices came in a soft sideways, with only mild hopes for a higher October, market sources said.  

US scrap prices picked up in August, though near-term demand is expected to remain weak, scrap sources told SMU.

The US ferrous scrap market has essentially traded sideways for August. It may be too early to judge how much traction these prices will have with the trade.

Scrap prices came in mostly sideways in July, with prime scrap prices edging down while shredded and HMS tags ticked up slightly, scrap sources told SMU. They believe a bottom has been reached in the market.

Turkish scrap import prices were stable last week. CRU’s assessment for HMS1/2 80:20 and shredded was unchanged at $384 per metric ton (mt) CFR and $408/mt, respectively.

The ferrous scrap market experienced a sharp decline for March shipments. Prime scrap fell $60-70 per gross ton (gt) while shredded and other obsolete grades declined $40-50/gt. It seems these prices were accepted in the trade by dealers across the continent.

US ferrous scrap prices fell steeply in March for HMS, shredded, and prime scrap, sources told SMU.

As I see it, the market looked to be a perfect storm for consumers this month while two large steel mills tried to put a floor on hot-rolled coil (HRC). One source speculated that “flat rolled mills coordinated their downtime and will take out 250,000 tons of capacity in April,” which made them attempt to put a bottom on flat-rolled product.

The news in the West was that a mill in the Rocky Mountain region made a significant reduction in their usual purchase program, while still another small mill in the region also apparently reduced their buying program for February.

The March outlook for most ferrous products is trending down faster than most participants thought as recently as a week ago.

The Mid-American ISRI Chapter held its annual meeting in St. Louis this month. Over the years, this event has become a “must attend” for the scrap community nationwide.

The scrap export market has demonstrated resiliency so far this year from the US East Coast. This strength has mainly come from the Turkish market. Despite weakening orders for rebar in their domestic market, imported scrap prices have held up until the last several days. The US West Coast is not as active, but there are orders in South Asia and in South America that are keeping things afloat.

US busheling scrap prices fell this month, while HMS and shredded grades remained largely unchanged.

Domestic scrap prices ended up down slightly after a roller coaster of trading in January, scrap sources told SMU.

US scrap prices shot up in December and are expected to continue their rise in January, market sources told SMU.

US scrap prices are expected to rise in December, industry sources told SMU.

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

Turkish scrap import prices rose due to conclusion of several deals towards the end of last week as key buyers and sellers re-entered the market.

Turkish scrap import prices have remained relatively stable over the past two weeks due to slow trade activity. This was partly due to the holiday on August 30. CRU’s latest price assessment for HMS1/2 80:20 is $368 /metric ton CFR, up $1 /metric ton week-over-week (WoW) and up $21 /metric ton month-over-month (MoM). The holiday […]

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.

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