Updated: Apr 4, 2022
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 🐃:
- Pig iron us up 17% or $158 a ton since the March Trade.
- HRC pricing is up 37% or $415 a ton in March.
- HRC Lead times jump form 3 1/2 to 5 1/2 weeks in March.
The case for the 🐻:
- We don't see any failing charts but a number charts are sideways. This should be the bull vs neutral case this month.
Turkey's rebar sales and scrap purchases since March ferrous trade have been flat.
Watch or listen to A Scrap Life: Bulls vs Bears to find out more.