top of page
Search

Scrap Metal Market Update

The case for the ๐Ÿƒ:

- Iron Ore is up $103.10 to $110.64 / ton. (+7.3%)

- China Steel Rebar is up 3,673 to 4,001 / ton. (+8.9%)

- HRC up $673 to 736 / ton. (+9.9%)

The case for the ๐Ÿป:

- Pig Iron is down $502 to $490 / ton. (-8.7%)


Worth mentioning:

- The scrap metal market has shifted from a demand-driven market to a supply-driven market and boy it doesn't feel like there is a lot of supply out there after this cold weather snap. Raw steel production is flat month over month and HRC lead time has fallen from 4.5 weeks to 3.5 weeks.

ย 

Check out the Scrap Factor Report:

Monthly Scrap Factor Report Jan 2023
.pdf
Download PDF โ€ข 3.09MB
ย 

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



38 views0 comments
bottom of page