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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 🚀

  • 🔥 Pig Iron: Currently at $468.75 / MT and holding steady.

  • 🌎 Steel Imports: Total and finished steel imports were down 24.5% in June vs. May.

  • 📈Hot Roll Coil Steel: Increased from $670/MT to $700 / ton. (an increase of 4.4%).

  • 📈CME Busheling August: Increased from $380/GT to $420/ ton. (an increase of 10.5%).

 

📉 Bear Case 🐻

  • ⏳ HRC Lead Times: Stagnant at 4ish weeks with crude steel production remaining flat.

  • 📉 Greed and Fear Index: Slipped from 54 to 33 in the past week.

  • China Shanghai Steel Rebar Prices: A decline from 3,336 to 3305 CNY (a decrease of 9.9%)

  • Copper Prices: A decline from $4.42 to $4.09 (a decrease of 7.5%).

  • Nickel Prices: A decline from $17,156 to $16,433 (a decrease of 12.8%).


📌 Noteworthy Observations 🧐


  • Lackluster Demand 📉 Recent manufacturing numbers and Amazon’s reports indicate that consumers are buying less and opting for cheaper products. 🛒 The slowdowns in industrial accounts that many have been mentioning are finally becoming evident in the market. 🏭 Furthermore, China selling billets to Turkey at a $100 premium to HMS today underscores the sluggishness of the Asian markets. While it’s tempting to get excited about HRC prices ticking up throughout July, 📈 the stagnant lead times reveal the true state of our current market situation. ⏳ One thing is certain: busheling and shredded scrap prices won’t remain stable for long and with the CME Busheling market popping lets hope for better days ahead.

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.


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