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Scrap Metal Market Update

The case for the ๐Ÿƒ:

- Dow Jones up from 28,725 to 32,861 (+12.5%)

- Crude Oil WTI up from $87.55 from $79.67 (+9%)

- Pig Iron up from $519 to $550 / MT (+5.6%)

- Zorba up from $.62 to $.68 / lb (+8.8%)


The case for the ๐Ÿป:

- Iron ore down to 93.01 from 98.31 (-5.4%)

- HRC futures are down from $776 to $710 / tn (-8.5%)

- Shanghai Steel Rebar down from 3,936 to 3,441 CNY / tn (-12.5%)

- HRC December futures are down from $765 to $665 / tn (-13%)

- Turkey HMS 80:20 down from $368 to $356 / MT (-3.3%)


Worth mentioning:

- Crude Steel Production is down to a year low of 76.4%.

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Check out the Scrap Factor Report:

Monthly Scrap Factor Report Nov 2022
.pdf
Download PDF โ€ข 3.35MB
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A Scrap Life's Bulls vs Bears Podcast for June will be out soon, check out the link below.



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