Scrap Metal Market Update
- chad ellerbrock
- Dec 28, 2022
- 1 min read
The case for the š:
- 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 š»:
- 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.
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