Scrap Steel Prices: Weekly Market Report –13th October, 2023
Market Reports | 2023-10-13 14:18:46
The LME Steel Rebar FOB Turkey (Platts) Month 2 Contract closed at $575.00 per tonne.
By Paul Ploumis
SEATTLE (Scrap Monster):Based on price data compiled from the Scrap Monster Price Index, one could see that steel scrap prices exhibited mixed trend during the past one week period from 6th to 12th October, 2023.
North America Prices
The #1 HMS and Structural Steel prices surged higher on Index.
The chart below provides weekly price trends in #1 HMS in the North American region:
The prices of #1 Bundle, #1 Busheling, HMS 80/20 and Sheet Metal recorded no change over the previous week.
On the contrary, Shredded Auto Scrap prices recorded decline over the week.
USA East Coast Prices
The price of a few steel scrap commodities registered increase during the previous week. This included #1 HMS and Structural Steel.
The price chart of Structural Steel is given below:
The prices of #1 Bundle, #1 Busheling, HMS 80/20 and Sheet Metal were flat.
Meantime Shredded Auto Scrap prices dipped by 2.50% each upon comparison with the prior week.
USA Midwest Prices
The region reported no changes in prices of #1 Bundle, #1 Busheling, HMS 80/20 and Sheet Metal week-on-week.
The prices of #1 HMS and Structural Steel edged higher over the prior week. The prices of both the above varieties edged higher by 1.56% over the prior week.
Meantime, Shredded Auto Scrap prices declined on a weekly basis.
The below chart depicts the weekly price movement in Shredded Auto Scrap:
USA West Coast Prices
The West Coast region #1 Bundle, #1 Busheling, HMS 80/20 and Sheet Metal prices recorded no change, compared to the previous week.
The prices of #1 HMS and Structural Steel increased over the prior-week levels.
Compared to last week, Shredded Auto Scrap prices witnessed marginal decline.
China Prices
The Chinese steel scrap market has been flat during the week. 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 Sheet Metal over the one-week period from 6th to 12th October, 2023 is provided in the below chart.
LME Steel Market Update
The LME Steel Scrap CFR Turkey (Platts) Month 2 Closing price as on 12th October, 2023 stood at $367.50 per tonne.
The LME Steel Rebar FOB Turkey (Platts) Month 2 Contract closed at $575.00 per tonne.
Meantime, LME Steel HRC North America (Platts) LME Steel Scrap CFR India (Platts) Month 2 prices as on 12th October, 2023 closed at $715.00 per tonne and $434.50 per tonne respectively.
