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Scrap Metal Market Update

The case for the ๐Ÿƒ:

- Dow Jones is up from 32,861 to 34,590 month over month (+5.3%)

- Crude Oil is up $87.45 to $81.43 (-6.9%)

- Iron Ore is up $93.01 to $103.10 (10.8%)

- China Steel up 3,441 to 3,673 (+6.74%)

- Copper up $3.42 to $3.80 (11.1%)

- Turkey 80:20 up $356.20 to 376 (+5.6%)


The case for the ๐Ÿป:

- Pig Iron is down $550 to 502 (-8.7%)

- Crude Steel Operating Rates are down 74.5% to 73% (-1.5%)

- HRC down $710 to 673 (-5.2%)


Worth mentioning:

- January Busheling future's last trade was at $410 / ton, which would be up $45 / ton since the November settlement.

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Check out the Scrap Factor Report:

Monthly Scrap Factor Report Dec 2022
.pdf
Download PDF โ€ข 3.09MB
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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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