Scrap Steel Prices: Weekly Market Report –1st September, 2023

SEATTLE (Scrap Monster):The weekly analysis of the Scrap Monster Price Index data suggests that steel scrap prices in China and Europe regions witnessed no change during the past one week period from 25^th August, 2023 to 31^st August, 2023. The North American and U.S. steel scrap prices recorded marginal decline during the week.

North America Prices

The #1 Bundle and #1 Busheling prices declined by 1.16% and 1.11% respectively, compared with the prior week.

#1 HMS and Structural Steel prices were down by 1.52% each, with prices touching USD 325 per MT at the end of the week, upon comparison with USD 330 per MT a week before.

HMS 80/20 and Sheet Metal prices were flat on Index during the week.

Also, no price change was seen in Shredded Auto Scrap.

USA East Coast Prices

The price of certain steel scrap commodities were stagnant during the previous week. The prices of HMS 80/20, Sheet Metal and Shredded Auto Scrap held steady.

Meantime, other scrap commodities such as #1 Bundle, #1 Busheling, #1 HMS and Structural Steel recorded marginal dip in prices over the previous week.

USA Midwest Prices

The region reported flat prices for some steel scrap categories.

The prices of #1 HMS and Structural Steel declined the most, each falling by 1.52%. The prices of #1 Bundle and #1 Busheling too were down by 1.16% and 1.11% respectively.  

USA West Coast Prices

The West Coast region steel scrap prices were mostly down, compared to the previous week.

However, the prices of HMS 80/20, Sheet Metal and Shredded Auto Scrap posted no change from prior-week levels.

China Prices

The Chinese steel scrap market remained flat during the week ended August 31^st, 2023. The prices of Cast Iron Scrap witnessed no change from the prior week. #1 HMS prices too held steady. 

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.

LME Steel Market Update

The LME Steel Scrap CFR Turkey (Platts) Month 2 Closing price as on 31^st August, 2023 stood at $372.50 per tonne.

The LME Steel Rebar FOB Turkey (Platts) Month 2 Contract closed at $564.50 per tonne.

Meantime, LME Steel HRC North America (Platts) and LME Steel Scrap CFR India (Platts) Month 2 prices as on 31^st August, 2023 closed at $759.00 per tonne and $430.00 per tonne respectively.

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