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Scrap Metal Market Update

The case for the ๐Ÿƒ:

- Pig iron is up $535 to $555 / MT. (+3.7%)

- HRC futures are up $1,064 to $1,156 / ton. (+8.6%) - HRC lead times are up 6-7 weeks to 9 weeks.

- USA Steel Imports are down 13.6% MoM.

- Crude Steel Production is up 74.9% to 75.4% MoM.


The case for the ๐Ÿป:

- 80:20 Turkey is down $471 to $447 / MT (-5.1%)


Worth mentioning:

- USA Average steel capacity utilization rate is down 4.74% YoY.

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Check out the Scrap Factor Report:

Monthly Scrap Factor Report April 2023
.pdf
Download PDF โ€ข 3.80MB
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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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