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Scrap Metal Market Update


The case for the ๐Ÿƒ:

- One could argue bottom formation in the overall market and copper


The case for the ๐Ÿป:

- Iron ore down $18.53 / MT. $114.45 to $107.22 (-6%).


- USA HRC down $930 to $845 MoM (-9%).


- China Steel Rebar 4,500 to 4,122 MoM (-8%).


- Pig iron down $137 / MT. $642 to 505 (-21%).


- Shred Feed 370.50 to 350 MoM (-5.5%)


- Zorba $.66 to $.59 (-11%).


- Turkey 80:20 HMS down $20 / MT. $370 to $350 (-5%).


Worth mentioning:

- I heard HRC bottoms around $680-720 / ton now in the USA due to additional steel supply coming online.

Monthly Scrap Factor Report Aug 2022
.pdf
Download PDF โ€ข 3.49MB

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



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