Scrap Steel Prices: Weekly Market Report – 24th Feb, 2023
The LME Steel Scrap CFR Turkey (Platts) Month 2 Closing price as on 23rd February, 2023 stood at $480.00 per tonne.
SEATTLE (Scrap Monster):The weekly analysis of the Scrap Monster Price Index data suggests that steel scrap prices in regions across the globe witnessed no change during the past one week period from 16th February, 2023 to 23rd February, 2023.
North America Prices
The #1 Bundle and #1 Busheling prices recorded no change over the prior week.
Structural Steel and Shredded Auto Scrap prices too were flat over the week.
The price movement of Shredded Auto Scrap over the week is depicted below:
The HMS 80/20 and #1 HMS prices remained unchanged, upon comparison with the previous week.
Also, Sheet Metal prices were stagnant on Index.
USA East Coast Prices
The price of various steel scrap commodities held steady during the previous week. The prices of #1 Bundle and #1 Busheling recorded no change.
No price change was recorded in #1 HMS and HMS 80/20.
The below chart portrays the weekly price change in #1 Bundle.
The Structural Steel and Shredded Auto Scrap prices were flat over the previous week.
USA Midwest Prices
The Structural Steel and Shredded Auto Scrap prices witnessed no change over the prior week.
#1 Bundle and #1 Busheling prices too were unmoved over the week.
The HMS 80/20 and #1 HMS prices remained stable, upon comparison with the previous week.
Also, Sheet Metal prices were flat on Index.
The price movement in HMS 80/20 over the week from 16th February to 23rd February, 2023 is given in the following chart:
USA West Coast Prices
The Structural Steel and Shredded Auto Scrap prices recorded no change over the prior week.
#1 Bundle and #1 Busheling prices too were flat over the week.
The prices of other steel scrap commodities, such as HMS 80/20, #1 HMS and Sheet Metal remained unchanged, upon comparison with the previous week.
China Prices
The Chinese steel scrap market remained flat during the week ended February 23rd, 2023. The prices of #1 HMS witnessed no change from the prior week. Cast Iron Scrap prices held steady, as shown in the below chart.
Europe Prices
The prices of all steel scrap commodities such as #1 HMS, Cast Iron Scrap, Grade 1 Old Steel, Grade 2 Old Steel, Grade OA Structural Plate, Sheet Metal, Shredded Auto Scrap and Structural Steel held steady when compared with the week before.
The price variation in Grade 1 Old Steel (#1 5 ft) over the one-week period from 16th February, 2023 to 23rd February, 2023 is provided in the below chart.
LME Steel Market Update
The LME Steel Scrap CFR Turkey (Platts) Month 2 Closing price as on 23rd February, 2023 stood at $480.00 per tonne, recording significant surge over the week.
The LME Steel Rebar FOB Turkey (Platts) Month 2 Contract closed at $775.00 per tonne, significantly higher upon comparison with $725.00 per tonne during the close of the previous week.
Meantime, LME Steel HRC North America (Platts) and LME Steel Scrap CFR India (Platts) Month 2 prices as on 23rd February, 2023 closed at $866.00 per tonne and $484.50 per tonne respectively.