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🔥 Metal Market Trend Updates! 🔥

I trust this update finds you well and thriving. 🌟 In this month’s edition, we delve into the dynamic trends shaping the steel and scrap metal industry. Brace yourself for a thrilling ride through market fluctuations, where each dip and surge reveals a compelling narrative of opportunity.

📊 Month-to-Month Analysis 📈


📈 Bull Case 🚀

  • 🔥 Crude Steel Production: Still going strong at 78.1%, marking the second-highest week of the year (up by 1.9%).


📉 Bear Case 🐻

  • Consumer Confidence: A dip of 8 points, from 77.2 to 69.1 (a decrease of 10.5%).

  • HRC Lead Times: Stagnant at 3-4 weeks.

  • 📉 HRC May Futures: Slipped from $810 to $760.00 in May (a decrease of 6.2%).

  • 🌐 Steel Imports: Up by 11.3% in April compared to March. 🌎

  • Copper Prices: A rollercoaster ride—from $4.55, all the way up to $5.11, and then down to $4.61 in May.

  • 📉 Turkey 80/20 HMS: A slight decrease from $384.00/MT to $379.50/MT (a decrease of 1.2%).


📌 Noteworthy Observations 🧐


  • Buyer Pressure: Worthington Steel Flat Rolling Processing notes that buyers are feeling the heat on steel pricing. However, not all mills share the same sentiment.

  • 📊 Nucor’s Move: Nucor raised its Consumer Spot Price to $780 per ton for the second consecutive week.

  • Analyst Projections: Analysts predict a price range of $750-$760 per ton for hot roll coil, but buyers still see opportunities for deals.

  • 🕰️ Lead Times: Keep an eye on lead times. Despite expectations of shorter lead times due to June production challenges, more mills are likely operating into July for hot roll.

  • 📆 July Outlook: July is expected to be a strong booking month for mills, with contract prices resetting quarterly and monthly at improved levels. 💼

  • 🔑 Spot Buyers: Speculation suggests that steel prices may have bottomed out, and spot buyers returning to the market could boost mill order books. However, available deals seem limited.


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 May 24
.pdf
Download PDF • 3.03MB

 

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



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