top of page

🔥 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: Currently at 77.0%, a decline since June 1st of 1.5%.

  • 📈Turkey 80/20 HMS: Increased from $379.50/MT to $390.30/MT. (an increase of 2.8%).

📉 Bear Case 🐻

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

  • 📉 HRC May Futures: Slipped from $746 to $684.00 in May (a decrease of 8.3%).

  • 🌎 Steel Imports: Total and finished steel imports are up 8.0% and 5.5%, respectively, year-to-date vs. 2023.

  • China Shanghai Steel Rebar Prices: A decline from 3,519 to 3,301 CNY in June.

  • Copper Prices: A decline from $4.58 to $4.39 in June (a decrease of 4.1%).

  • Nickel Prices: A decline from $19,761.58 to $17,241 in June (a decrease of 12.8%).

📌 Noteworthy Observations 🧐

  • Buyer Pressure: Worthington Steel Flat Rolling Processing noted "Pricing slid week-over-week, driven mainly by buyers remaining on the sidelines and destocking. Hot roll coil pricing is in a wide range, and expectations are that there is still more downside pressure. Analyst pricing is somewhere in the $700-$720 range for hot roll, but those are averages, so most buys are thought to be below $700 ton. Some mills have shown resistance in pricing at the lower levels, but big buyers believe they can do much better; rumors of “deals” are all anyone wants to discuss."

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 June 24
Download PDF • 3.16MB


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

14 views0 comments


bottom of page