Scrap Metal Market Update
The case for the 🐃:
- Iron ore is up $110.64 to $122.70 / ton. (+10.9%)
- Copper is up $3.83 to $4.11 / pound. (+7.3%)
- HRC futures are up $736 to 785 / ton. (+6.65%) - HRC lead times are up 3/4 weeks to 5 weeks
- 80:20 Turkey is up 414.50 to $425.50 / MT (+2.65%)
The case for the 🐻:
- Still looking..
Worth mentioning:
- Shredders across the US and East coast exporters have raised their prices $10-20 / ton this week.
Check out the Scrap Factor Report:
Monthly Scrap Factor Report Feb 2023
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Download PDF • 3.11MB
A Scrap Life's Bulls vs Bears Podcast will be out soon, check out the link below.
