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Market Reports January 20, 2023 09:30:51 PM

Scrap Steel Market: Weekly Price Report - Jan 20th, 2023

Paul Ploumis
ScrapMonster Author
The LME Steel Scrap CFR Turkey (Platts) Month 2 Closing price as on 19th January, 2023 stood at $413.00 per tonne.

Scrap Steel Market: Weekly Price Report - Jan 20th, 2023

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 12th January, 2023 to 19th January, 2023.

North America Prices

The #1 HMS and Structural Steel prices recorded largest increase, edging higher by 11.29% each.

The price movement of #1 HMS over the week is depicted below:

#1 Bundle and #1 Busheling prices inched higher by 9.72% and 9.21% respectively over the week.

The Sheet Metal prices were up by 6.38% over the week.

Also, prices of HMS 80/20 and Shredded Auto Scrap recorded marginal increase over the previous week.

USA East Coast Prices

The price of various steel scrap commodities registered increases during the previous week. The prices of #1 HMS and Structural Steel recorded largest increase.

#1 HMS prices increased by $35 per MT from $310 per MT to $345 per MT over the prior week.

A similar hike in prices by $35 per MT was seen in Structural Steel, #1 Bundle and #1 Busheling.

USA Midwest Prices

The region reported surge in prices for various steel scrap categories. The prices of steel scrap commodities such as #1 Bundle, #1 Busheling, #1 HMS and Structural Steel recorded notable rise, upon comparison with the prior week.

Also, HMS 80/20, Sheet Metal and Shredded Auto Scrap prices witnessed marginal increase week-on-week.

USA West Coast Prices

The U.S. West Coast region steel scrap prices rose, compared to the previous week.

The #1 HMS and Structural Steel prices recorded largest increase, edging higher by 11.29% each.

#1 Bundle and #1 Busheling prices inched higher by 9.72% and 9.21% respectively over the week.

Other steel scrap categories too witnessed modest surge over the week.

The price movement of Shredded Auto Scrap over the week is depicted below:

 

China Prices

The Chinese steel scrap market remained flat during the week ended January 19th, 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 2 Old Steel (#2 2ft) over the one-week period from 12th January, 2023 to 19th January, 2023 is provided in the below chart.

 

 

LME Steel Market Update

The LME Steel Scrap CFR Turkey (Platts) Month 2 Closing price as on 19th January, 2023 stood at $413.00 per tonne.

The LME Steel Rebar FOB Turkey (Platts) Month 2 Contract closed at $684.0 per tonne, higher upon comparison with $680.0 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 19th January, 2023 closed at $707.50 per tonne and $461.50 per tonne respectively.

 

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