Scrap Metal Market Update

The case for the 🐃:

- Pig Iron is up $497 - $519 MoM (+4%)

The case for the 🐻:

- Iron ore is down $104.76 to $98.31 (-8.5%).

- Turkey 80:20 HMS is down $28 / MT. $396 to $368 (-7%).

Worth mentioning:

- HRC lead times remain around two weeks and pricing continues to erode. Until steel demand bottoms hard to see any scrap pricing pops in the near future.

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Check out the Scrap Factor Report:

Monthly Scrap Factor Report Oct 2022

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Download PDF • 3.11MB

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