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Scrap Metal Market Update - October 2021

The ferrous scrap metal market is a unique market truly driven by supply and demand. Learn about what the key indicators are doing in this monthly Scrap Metal Market Update Series.

The case for the Bulls:

Dow Jones makes new high

Turkey 80:20 up $67 since September 30th. Spreads between rebar and scrap are still sustainable.

Oil continues higher

Pig Iron up $10 / MT MoM

Copper higher

Bush futures $80 / GT higher in January vs October settlement.

The case for the Bears:

USA HRC continues to come off highs.

China Steel Rebar down ~$130 USD ($808 / MT CNY)

Purchasing Managers Index moved lower.

Imports up 32% YoY. Leads times on imports down MoM.

Monthly Scrap Factor Report October 2021
Download PDF • 4.96MB

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