Scrap Prices North America
February 10, 2023
Written by Michael Cowden
SMU’s hot-rolled coil price has cracked $800 per ton ($40 per cwt), and so have prices on the futures market.
The question of whether the $800-per-ton threshold would be breached has been answered. But it’s still unclear to me whether that threshold was breached by solid underlying demand or by momentum (buying ahead of the next anticipated increase) and sentiment.
Calm before the storm
Having just attended the historically significant ISRI Mid-America Chapter Consumers Night Banquet in St. Louis and waiting for my delayed flight, it seemed I had the perfect opportunity to inform the industry of a few items that came out while wheeling and dealing in the beautiful Union Train Station Hotel. For the West Coast export […]
The US scrap market showed some stability in August, with prices mostly sideways on busheling and shredded grades, and HMS prices ticking up from the previous month, sources said.
Sheet prices were mixed this week with hot-rolled coil (HRC) and galvanized base prices slipping again even as cold-rolled tags inched up.
August could see US scrap prices stabilizing, or even rising, depending on the grade or region, scrap sources told SMU.