Scrap Steel Prices: Weekly Market Report – 3rd March, 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 mixed trend during the past one week period from 24^th February, 2023 to 2^nd March, 2023.

North America Prices

The #1 Bundle and #1 Busheling prices recorded surge over the prior week.

Shredded Auto Scrap prices too increased over the week.

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

The HMS 80/20 and Sheet Metal prices remained unchanged, upon comparison with the previous week.

Meantime, #1 HMS and Structural Steel prices recorded decline on Index.

USA East Coast Prices

The price of a few steel scrap commodities surged higher over the previous week. These include #1 Bundle, #1 Busheling and Shredded Auto Scrap.

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

No price change was recorded in HMS 80/20 and Sheet Metal.

The #1 HMS and Structural Steel prices dropped over the prior week.

USA Midwest Prices

The #1 Bundle and #1 Busheling prices recorded surge over the prior week.

Shredded Auto Scrap prices too increased over the week.

The HMS 80/20 and Sheet Metal prices remained unchanged, upon comparison with the previous week.

Meantime, #1 HMS and Structural Steel prices recorded decline on Index.

The price movement in Structural Steel over the week from 24^th February to 2^nd March, 2023 is given in the following chart:

USA West Coast Prices

The region witnessed mixed trend in scrap price movement during the week.

#1 Bundle priced edged higher by 4.71% week-on-week. The prices of #1 Busheling and Shredded Auto Scrap too edged higher by 3.37% and 1.14% respectively.

HMS 80/20 and Sheet Metal prices remained unchanged over the prior week.

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

Meantime, #1 HMS and Structural Steel prices recorded marginal decline by 1.33% each on Index.

China Prices

The Chinese steel scrap market remained flat during the week ended March 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 Shredded Auto Scrap over the one-week period from 24^th February, 2023 to 2^nd March, 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 March, 2023 stood at $463.00 per tonne, recording significant decline over the week.

The LME Steel Rebar FOB Turkey (Platts) Month 2 Contract closed at $770.00 per tonne, marginally lower upon comparison with $775.00 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 March, 2023 closed at $1,020.00 per tonne and $480.00 per tonne respectively.

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