Tag: Nonferrous

Radius Recycling anticipates a wider loss in its fiscal second quarter vs. the first quarter, according to preliminary results.

Ryerson swung to a net profit in the fourth quarter, though revenue declined from the same period last year.

While seaborne trade has been challenging due to weak global steel production, demand for ferrous scrap in the US remains strong, according to Sims Ltd.

Australia's BlueScope Steel has begun making plans to potentially add cold rolling and coating capabilities in the US.

The US Midwest premium continued to trade between 18.8–19.4 cents per pound (¢/lb) this week. There remains a host of macroeconomic and geopolitical risks in the current environment, but none have affected the short-term outlook for the premium. Current trading for April reached 20 ¢/lb which is on par with CRU’s current forecast for Q2’24. Dates closer to the end of the year have fallen to 21.2 ¢/lb.

The capacity for EAF steelmaking is growing both in the US and abroad. Ferrous scrap supply has never been more important. A lot of people have viewed the scrap industry as old-fashioned and resistant to change. However, the same forces affecting the steel and other industries are also at play in recycling.

Radius Recycling reported a net loss in its fiscal first quarter of 2024 on tighter supply flows for recycled metals and lower average selling prices for the company’s products.

European Aluminium, an association representing the entire European aluminum value chain, announced in a press release that it supports the European Commission's proposed 12th package of sanctions against Russia.

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

Ryerson Holding Corp, has acquired non-ferrous metals distributor TSA Processing.