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Scrap Metal Market Update

Updated: May 5, 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 ๐Ÿƒ:

- Consumer Confidence is up 59 to 65 MoM.

The case for the ๐Ÿป:

- PE Ratio is 32.53 down from 37.39 last month.

- Fear & Greed Index 26 from 55 last month.

- Steel Imports are up 24% MoM.

- HRC Lead times dropped 2 weeks MoM.

- HRC pricing down from $1,540 to $1,400 / TON MoM.

- Dr. Copper dropped from the March high of $4.90 to 4.28 / LB.

- HMS 80:20 US-Origin cfr Turkey dropped from April high $660 to $555 / MT.

- Pig iron dropped from the April high of $1,064 to $933 / MT.

- CME Bush settled at $779 last month, futures today are at $690 /GT, Down $89.

Worth mentioning:

Russian billets seemed to have replaced US scrap in Turkey driving USA export pricing down.

Monthly Scrap Factor Report April 2022
Download PDF โ€ข 3.29MB

A Scrap Life's Bulls vs Bears Podcast is out, check out the link below.

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