Scrap Metal Market Update

The ferrous scrap metal market is a unique one truly driven by supply and demand. Learn about what the key indicators are doing month over month in this Scrap Metal Market Update Series.

The case for the 🐃:

- Crude oil is up 7%

- Pig iron is up $59 to $622 / MT

- Zorba is up 8 cents to 79 cents

- Turkey HMS is up $40 to $525 / MT

- HRC downward pricing momentum has stopped

The case for the 🐻:

- Consumer confidence continues lower

- Inflation continues to move higher

- Steel leads times on HRC US Midwest remains under 4 weeks

Worth mentioning:

Steel production has trended down the last 3 weeks in the Midwest while the South has trended up.

Monthly Scrap Factor Report March 2022

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