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๐Ÿ“ˆ The Bullish Case vs. ๐Ÿ“‰ The Bearish Case

๐Ÿ“ˆ The Bullish Case vs. ๐Ÿ“‰ The Bearish Case: Navigating the Current Market Trends ๐Ÿ“Š


๐Ÿƒ The Bullish Case:

๐Ÿ›ข๏ธ Crude oil surges, up $81.87 to $85.86 (+5.1%)

๐Ÿ—๏ธ Pig Iron sees gains, up $427.50 to $440.00 (+2.9%)

๐Ÿญ Turkey rebar-scrap spread spikes, up 357.45 / MT to 381.02 (+6.6%)

โ›๏ธ Iron ore prices on the rise, up $112.46 / ton to $118.19 / ton (+5.1%)


๐Ÿป The Bearish Case:

๐Ÿ“‰ Dow Jones Industrial Average dips, down 35,559 to 34,797 (-2.1%)

๐Ÿญ Hot roll coil steel lead times shorten from 5-6 weeks to 4-5 weeks

๐Ÿ“‰ Hot roll coil steel September futures decline, down $821 to $718 (-12.6%)

๐Ÿฅˆ Copper loses ground, down $3.99 to $3.80 (-4.8%)


๐Ÿ“Œ Worth Mentioning:

Steel prices remain under pressure as buyers strategize to reduce inventories in anticipation of potential disruptions due to an automotive labor strike. Reports suggest up to 15 different mills have scheduled outages through November, while scrap collection is notably down.


For a deeper dive into these market dynamics, check out the Scrap Factor Report. Stay informed, stay agile, and adapt to thrive in today's ever-changing economic landscape. ๐Ÿ’ผ๐ŸŒ

Monthly Scrap Factor Report Sept 2023
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Download PDF โ€ข 3.08MB

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



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