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 🚀
- Nickel is up 📈 from $15,844 to $17,366 (+9.6%) 🎉.
🐻 Bear Case 📉
- Pig iron is down 🔻 $475 to $460 / GT (-3.1%) 🐷.
- Steel HRC ex-works US Midwest domestic lead times ⏱️ decreased from 4 to 3 weeks 🕰️.
- US Midwest Domestic HRC Futures are down 🔻 from $960 to $795 (-17.2%).
- April HRC futures are lower at $788 / NT 📉.
- Chinese steel rebar is down 🔻 3,859 to 3,766 (-2.4%) 🇨🇳.
- Turkey HMS (80:20) is down 🔻 $433 to $395 / MT (-8.8%) 🇹🇷.
📌 Noteworthy Observations 🧐
- February was unseasonably warm across the US 🌡️, aiding scrap flows ♻️. With steel demand slowing 📉 and shrinking lead times 🕒, scrap prices are expected to remain under pressure in March 🔍.
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.
A Scrap Life's Bulls vs Bears Podcast will be out soon, check out the link below.
