🚀🔥 Breaking: Market Madness Unleashed! 📈🔥
- chad ellerbrock
- Dec 2, 2023
- 2 min read
Hope this sizzling update finds you riding the wave of success! 🏄♂️ In this month's viral edition, we're diving deep into the red-hot trends steering the steel and scrap metal industry. Get ready for a rollercoaster of market madness, where every dip and surge tells a tale of opportunity!
📈 Navigating Market Mania Month Over Month 📊
🐃 Bullish Boom 🚀
- 📈 Dow Jones Industries Average Hits Galactic Heights: 33,055 ➡️ 35,950 🚀 (+8.7%)
- 💹 Fear and Greed Take the Stage; Market Settlement Turns Positive! 💹📈
- 💰 Iron Ore Skyrockets: $118.34 to $130.46 per ton! 💰 (+10.2%)
- 🔥 Hot Roll Coil Sets the Market Ablaze: Up $870.70 per ton to $1,044.00 (+19.9%)
- 💪 China Steel Rebar Flexes Muscles: Jumps $3,714 per ton to $3,917 (+5.4%)
- 💰 Copper Shines Bright: Up $3.65 per pound to $3.87 (+6.0%)
- 📈 Zorba on the Rise: Up 0.71 – 75 cents per pound (+5.6%)
- 🔄 ♻️ Heavy Melting Steel 80:20 Turkey Surges $370.86 per Gross Ton to $410.48 (+10.6%)
😢 Bearish Blues 😢
- 🛢️ Crude Oil Takes a Dive: $84.17 ➡️ $76.79 (-8.7%)
- ⏳ Steel Lead Times Hold Strong at 8-9 Weeks ⏳
📌 Noteworthy Insights 🧐
- 🏢 According to Argus Media, history speaks volumes! The last 9-week lead times coincided with HRC prices hitting $1,288 in May 2023 and $2,128 in September 2021. With the recent positive market settlement, the burning question is, will higher HRC prices stick with persistent demand, or will buyers exercise caution at these levels? 🤔
- 🔄 The last two instances of 9-week lead times were short-lived, just like the prices. Hot Roll futures are playing it cool into the first quarter of 2024. Brace yourself for a market worth watching! 🎢 💼
Your success is our mission, and we're here to arm you with the insights you need to conquer these thrilling times. Got questions or craving more juicy details? Dive into the madness – reach out to us anytime!
Thanks a ton for trusting us as your market intel source. Buckle up for more mind-blowing updates in the months ahead! 🚀🔥
Stay awesome,
Best Scrap Ever 💼🌐
A Scrap Life's Bulls vs Bears Podcast will be out soon, check out the link below.
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