Scrap Metal Market Update

The case for the 🐃:

- Still looking...

The case for the 🐻:

- Pig iron down $213 / MT. $858 to 645 (-25%).

- Iron ore down $18.53 / MT. $132.98 to $114.45 (-14%).

- USA HRC down $1,200 to $930 MoM (-22.5%).

- Copper $4.32 to $3.63 MoM (-16%).

- Nickel down $4,770 /MT. $27,800 to $23,030 (-17%).

- Zorba $.71 to $.66 (-7.7%).

- Turkey 80:20 HMS down $65 / MT. $435 to $370 (-15%).

Worth mentioning:

- Several analysts are noting HRC bottoms around low $800's in the USA.

Monthly Scrap Factor Report July 2022

.pdf

Download PDF • 3.74MB

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