Scrap Metal Market Update
The ferrous scrap metal market is a unique market truly driven by supply and demand. Learn about what the key indicators are doing in this monthly Scrap Metal Market Update Series.
The case for the Bulls:
- Crude Oil jumped from $65 to $76 / barrell MoM
- Iron Ore jump $93 to $112 / ton MoM
The case for the Bears:
- Pig iron dropped $568 to $548 / ton MoM
- Crude Steel Production decline
- HRC dropped $1,610 to $1,421 MoM
- Imports continue to rise
- Import HRC lead times down to 3.5 week lead time.
- Turkey HMS down $40ish per ton dollars since November