US scrap prices settle as expected

Thursday, 08 April 2021 21:44:10 (GMT+3)   |   San Diego
       

Sources close to SteelOrbis have confirmed that US domestic scrap prices have settled at down $20/gt for cut grades and shredded scrap, and at sideways for prime grades (busheling scrap).

“All in all, it’s been uneventful,” a source said. “The mills are buying at down $20 on cuts and shred, everyone has their tons in place, and there’s an understanding that we’ll pay down $20 to our suppliers.”

Another source notes that down $20/gt pricing, in the current market, “isn’t really a big deal.”

“When you look at where prices are, up or down $20/gt in the market isn’t that big of a deal,” he said. “There also seems to be an agreement that while prices are down this month, they’ll likely come up again next month.”

The reasons for a possible uptrend in May include capacity expansion plans at domestic mills and a possible uptick in export demand from Turkey. At current, SteelOrbis is predicting that Turkish mills will need to book upward of 20 more cargoes during the month of April, some of which will be booked from US suppliers.

This month’s settled scrap prices are listed in the charts below.

Northeast April  March Change
Delivered to customer
HMS I $391/mt $412/mt down $21/mt
$385/gt $405/gt down $20/gt
Shredded $437/mt $457/mt down $20/mt
$430/gt $450/gt down $20/gt
P&S  $401/mt $422/mt down $21/gt
$395/gt $415/gt down $20/gt
Busheling $498/mt $498/mt sideways
$490/gt +/-  $490/gt  +/-  sideways


 

Ohio/Western Pennsylvania April  March Change
Delivered to customer
HMS I $401-$406/mt $422-$427/mt down $21/mt
$395-$400/gt $415-$420/gt down $20/gt
Shredded $437-$442/mt $457-$462/mt down $20/mt
$430-$435/gt $450-$455/gt down $20/gt
Busheling $579 +/- mt $579 +/- mt sideways
$570 +/- gt $570 +/- gt sideways
P&S  $417-$427/mt $437-$447/mt down $20/mt
$410-$420/gt $430-$440/gt down $20/gt

Similar articles

Mexican domestic scrap prices

28 Mar | Scrap & Raw Materials

Carbon and stainless scrap prices in Taiwanese domestic market - week 13, 2024

28 Mar | Scrap & Raw Materials

Turkey’s deep sea scrap prices stabilize at $385-390/mt CFR

28 Mar | Scrap & Raw Materials

CISA: Coking coal purchase cost in China down 9.86% in Jan-Feb

28 Mar | Steel News

US scrap market still expecting sideways pricing in April

27 Mar | Scrap & Raw Materials

Ex-US deep sea scrap prices to Turkey increase, ex-EU prices relatively stable

27 Mar | Scrap & Raw Materials

Downtrend reverses in Pakistan’s import scrap segment

27 Mar | Scrap & Raw Materials

Average local Chinese scrap prices rise amid tight supply after previous decreases

27 Mar | Scrap & Raw Materials

Import scrap prices in India move up, but low bids prevent deals

27 Mar | Scrap & Raw Materials

Baltic countries and Czech Republic seek EU ban on ex-Russia scrap imports

27 Mar | Steel News