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Market Reports January 27, 2023 09:10:41 PM

Scrap Steel Prices: Weekly Market Report - 27th January, 2023

Paul Ploumis
ScrapMonster Author
The LME Steel Scrap CFR Turkey (Platts) Month 2 Closing price as on 26th January, 2023 stood at $422.50 per tonne.

Scrap Steel Prices: Weekly Market Report - 27th January, 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 20th January, 2023 to 26th January, 2023.

North America Prices

The #1 Bundle and Shredded Auto Scrap prices recorded largest increase, edging higher by 5.06% and 4.82% respectively.

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

 

#1 Busheling and Sheet Metal prices inched higher by 4.82% and 4.00% respectively over the week.

 

The HMS 80/20 prices were up by 3.45% over the week.

On the contrary, prices of #1 HMS and Structural Steel recorded marginal decline 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 Bundle and Shredded Auto Scrap recorded largest increase.

#1 Bundle prices increased by $20 per MT from $395 per MT to $415 per MT over the prior week.

A similar hike in prices by $20 per MT was seen in #1 Busheling and Shredded Auto Scrap.

The below chart portrays the weekly price change in #1 Busheling scrap.

 

The #1 HMS and Structural Steel prices declined over the previous week.

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, Shredded Auto Scrap, HMS 80/20 and Sheet Metal recorded notable rise, upon comparison with the prior week.

However, the prices of #1 HMS and Structural Steel recorded week-on-week decline.

The price movement in Structural Steel over the week from 20th to 26th January is given in the following chart:

 

USA West Coast Prices

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

The #1 Bundle and Shredded Auto Scrap prices recorded largest increase, edging higher by 5.06% and 5.0% respectively.

#1 Busheling and Sheet Metal prices inched higher by 4.82% and 4.0% respectively over the week.

HMS 80/20 too witnessed modest surge over the week.

The prices of $1 HMS and Structural Steel registered decline by 2.9% each, when compared with the prior week.

China Prices

The Chinese steel scrap market remained flat during the week ended January 26th, 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 OA Structural Plate over the one-week period from 20th January, 2023 to 26th 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 26th January, 2023 stood at $422.50 per tonne.

The LME Steel Rebar FOB Turkey (Platts) Month 2 Contract closed at $694.0 per tonne, higher upon comparison with $684.0 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 26th January, 2023 closed at $746.00 per tonne and $449.00 per tonne respectively.

 

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