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Scrap Metal Market Update

The case for the ๐Ÿƒ:

- Iron ore is up $122.70 to $125.75 / ton. (+3.1%)

- Pig iron is up $506 to $535 / MT. (+5.7%)

- HRC futures are up $785 to $1,064 / ton. (+35.5%) - HRC lead times are up 5 weeks to 6.-7 weeks

- 80:20 Turkey is up $414.50 to $425.50 / MT (+2.65%)

- USA Steel Imports are down 14.4% YoY.


The case for the ๐Ÿป:

- Crude oil is down $79.3 to $77.09 / barrel. (-2.8%)

- Nickel is down $30,350 to $24,900 / MT. (-18.0%)


Worth mentioning:

- CME US Busheling Scrap Futures:

- March-23 average price is at $540 / GT.

- April-23 average price is at $600 / GT.

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Check out the Scrap Factor Report:

Monthly Scrap Factor Report March 2023
.pdf
Download PDF โ€ข 3.10MB
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A Scrap Life's Bulls vs Bears Podcast will be out soon, check out the link below.



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