Scrap Metal Market Update

Updated: Jun 1, 2022

The case for the 🐃:

- Imports March to April down 11.7%

- Crude Steel Production flat MoM.

The case for the 🐻:

- Pig iron down $87 / MT. $918 to 831 (-13%)

- USA HRC down $1,382 to $1,200 MoM (-13%).

- Steel Rebar China 5,153 to 4,670 MoM (-9%).

- Turkey HMS down $91 /MT. $530 to 439 (-17%)

- Zorba $.825 to $.735 (-11%)

Worth mentioning:

- USA Steel prices relative to world are still on island with rumored more room to downside.

A Scrap Life's Bulls vs Bears Podcast for June will be out soon, check out the link below.

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