After the price decline in January, sources inform SteelOrbis that US domestic scrap traded sideways in February for cut grades including HMS I, shredded and P&S. Prime grades such as busheling scrap declined from $10/mt to $21/mt. The market prices were supported by export activity, which reduced inventory availability on the East coast, and extreme cold conditions in the regions.
In regards expectations for March, sources report “low inventory at yards and low incoming feedstock” through the month, a situation which is expected to provide supply-side pressures and firm up the March scrap market.
*Top number denotes the change from the bottom of the range and bottom number change from the top of the range in mt.
|
Ohio/Pennsylvania Delivered to customer |
February |
January |
Change* |
|
HMS I |
$315-320/mt $310-315/gt |
$315-320/mt $310-315/gt |
No change No change |
|
Shredded |
$340-345/mt $335-340/gt |
$340-345/mt $335-340/gt |
No change No change |
|
Busheling |
$376-386/mt $370-380/gt |
$386-406/mt $380-400/gt |
-$10/mt -$20/mt |
|
P&S |
$335-340/mt $330-335/gt |
$335-340/mt $330-335/gt |
No change No change |
|
East coast Delivered to customer |
February |
January |
Change* |
|
HMS I |
$295/mt $290/gt |
$295/mt $290/gt |
No change No change |
|
Shredded |
$315-325/mt $310-320/gt |
$315-325/mt $310-320/gt |
No change No change |
|
Busheling |
$330-335/mt $325-330/gt |
$351-356/mt $345-350/gt |
-$21/mt -$21/mt |
|
P&S |
$305/mt $300/gt |
$305/mt $300/gt |
No change No change |