Scrap Steel Prices: Weekly Market Report –23rd June, 2023
Market Reports | 2023-06-23 12:23:09
The LME Steel Rebar FOB Turkey (Platts) Month 2 Contract closed at $581.50 per tonne.
By Paul Ploumis
SEATTLE (Scrap Monster):The weekly analysis of the Scrap Monster Price Index data suggests that steel scrap prices in China, India and Europe regions witnessed no change during the past one week period from 16th June, 2023 to 22nd June, 2023. The North American and U.S. steel scrap prices too witnessed no change during the week.
North America Prices
The #1 Bundle and #1 Busheling prices held steady over the week.
#1 HMS and HMS 80/20 prices too were flat on Index during the week.
The price movement of HMS 80/20 over the week is depicted below:
The Sheet Metal prices witnessed no change from previous week’s level of $250 per MT.
Also, no price change was seen in Shredded Auto Scrap and Structural Steel.
USA East Coast Prices
The price of various steel scrap commodities were stagnant during the previous week. The prices of #1 Bundle, #1 Busheling, #1 HMS, HMS 80/20, Sheet Metal and Sheet Metal held steady.
Also, the Shredded Auto Scrap prices remained unchanged at $405 per MT on Index. The weekly price chart of the commodity is depicted in the below chart:
USA Midwest Prices
The region reported flat prices for various steel scrap categories. The below chart represents the variation in prices of Sheet Metal over the previous week:
USA West Coast Prices
The West Coast region steel scrap prices were unmoved, compared to the previous week.
The prices of HMS 80/20, Sheet Metal, #1 Busheling, Shredded Auto Scrap and #1 Bundle posted no change from prior-week levels.
China Prices
The Chinese steel scrap market remained flat during the week ended June 22nd, 2023. The prices of Cast Iron Scrap witnessed no change from the prior week. #1 HMS 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 Cast Iron Scrap over the one-week period from 16th June to 22nd June, 2023 is provided in the below chart.
LME Steel Market Update
The LME Steel Scrap CFR Turkey (Platts) Month 2 Closing price as on 22nd June, 2023 stood at $378.00 per tonne.
The LME Steel Rebar FOB Turkey (Platts) Month 2 Contract closed at $581.50 per tonne.
Meantime, LME Steel HRC North America (Platts) and LME Steel Scrap CFR India (Platts) Month 2 prices as on 22nd June, 2023 closed at $880.00 per tonne and $434.50 per tonne respectively.
