Scrap Steel Prices: Market Report – 3rd February, 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 27^th January, 2023 to 2^nd February, 2023.

North America Prices

The Structural Steel and Shredded Auto Scrap prices recorded no change over the prior week.

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

#1 Bundle and #1 Busheling prices too were flat over the week.

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 Sheet Metal scrap.

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 27^th January to 2^nd 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 2^nd, 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 27^th January, 2023 to 2^nd 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 2^nd February, 2023 stood at $435.00 per tonne, recording significant surge over the week.

The LME Steel Rebar FOB Turkey (Platts) Month 2 Contract closed at $702.50 per tonne, higher upon comparison with $694.0 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 2^nd February, 2023 closed at $778.00 per tonne and $461.00 per tonne respectively.

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