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๐Ÿ”ฅ Metal Market Trend Updates! ๐Ÿ”ฅ

I hope this update finds you riding the wave of success! ๐Ÿ„โ€โ™‚๏ธ 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!

๐Ÿ“Š Month-to-Month Analysis ๐Ÿ“ˆ

๐Ÿƒย Bull Case ๐Ÿš€

- Nickel is up ๐Ÿ“ˆย from $15,844 to $17,366 (+9.6%) ๐ŸŽ‰.

๐Ÿปย Bear Case ๐Ÿ“‰

- Pig iron is down ๐Ÿ”ปย $475 to $460 / GT (-3.1%) ๐Ÿท.

- Steel HRC ex-works US Midwest domestic lead times โฑ๏ธ decreased from 4 to 3 weeks ๐Ÿ•ฐ๏ธ.

- US Midwest Domestic HRC Futures are down ๐Ÿ”ป from $960 to $795 (-17.2%).

- April HRC futures are lower at $788 / NT ๐Ÿ“‰.

- Chinese steel rebar is down ๐Ÿ”ปย 3,859 to 3,766 (-2.4%) ๐Ÿ‡จ๐Ÿ‡ณ.

- Turkey HMS (80:20) is down ๐Ÿ”ปย $433 to $395 / MT (-8.8%) ๐Ÿ‡น๐Ÿ‡ท.

๐Ÿ“Œย Noteworthy Observations ๐Ÿง

- February was unseasonably warm across the US ๐ŸŒก๏ธ, aiding scrap flows โ™ป๏ธ. With steel demand slowing ๐Ÿ“‰ and shrinking lead times ๐Ÿ•’, scrap prices are expected to remain under pressure in March ๐Ÿ”.

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? Check on the charts for yourself below.

Thanks a ton for trusting us as your market intel source.

Monthly Scrap Factor Report Feb 24
Download PDF โ€ข 3.21MB


A Scrap Life's Bulls vs Bears Podcast will be out soon, check out the link below.

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