I hope this update finds you riding the wave of success! 🏄♂️ In this month's 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!
📊 Month-to-Month Analysis 📈
🐃 Bull Case 🚀
- Consumer Confidence is up 🚀 from 71 to 79
- United States Purchasing Managers Index (PMI) 📊 increased from 47 to 50 (+6.38%)
- Crude Oil WTI Futures are up from $73.87 to $76.73 (+3.87%)
- 80:20 (HMS) cfr Turkey price is stable $418 to $421 / MT. (+0.7%)
- Zorba 95/2 delivered US Consumer 📈 from $0.75 to $0.78 (+4%)
🐻 Bear Case 📉
- Steel HRC ex-works US Midwest domestic lead times ⏱️ decreased from 7 to 4 weeks
- US Midwest Domestic HRC Futures are down from $1,163 to $960 (-17.4%)
- CME Busheling February Futures 🔽 are down $555 to $490 / GT (-11.7%)
📌 Noteworthy Observations 🧐
- A winter blast ❄️ rolled through the Midwest slowing scrap flows dramatically in January, affecting as much as 2 weeks of shipments.
Your success is our mission, and we're here to arm you with the insights you need to conquer these thrilling times. Do you have questions or craving more details? Dive into the madness – reach out to us anytime!
Thanks a ton for trusting us as your market intel source.
A Scrap Life's Bulls vs Bears Podcast will be out soon, check out the link below.
