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🔥 Metal Market Trend Updates! 🔥

Updated: May 1

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 🚀

·         Pig Iron: 📈 from $462.50 to 472.50 (Increased by 2.2%)

·         Shanghai Steel Rebar: 📈 $3323 to 3493 (Increase by 5.1%)

·         Zorba: 📈 from $0.81 to $0.84 (Increased by 3.7%)

·         Nickel: 📈 from 16,433 to 19,254 (Increased by 17.2%)

🐻 Bear Case 📉

·         Dow Jones Industrial Average: 📈 from 39,807 to 38,055 (Decrease by -4.4%)

📌 Noteworthy Observations 🧐

Both the steel and ferrous market is anticipated to be flat so with nothing exciting to share I wanted to share this article I recently read about financial guru note that commodities may become the best-performing asset class over the next 20 years.

“In the coming years, I anticipate an unprecedented demand for commodities, as they are crucial for the current industrial revolution, ranging from the energy transition to the rise of artificial intelligence—the latter's development is limited by the availability of energy, as the CEO of OpenAI has indicated. Whoever has the most energy available will win the AI race and that is a guarantee that the demand for raw materials will be unprecedented.”

I am not sure I buy everything they are saying but it sure would be great if this is true.

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 Apr 24
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A Scrap Life's Bulls vs Bears Podcast will be out soon, check out the link below.

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