Steel Scrap Prices: Weekly Market Report –8th September, 2023

SEATTLE (Scrap Monster):The weekly analysis of the Scrap Monster Price Index data suggests that steel scrap prices in China, India and Europe regions witnessed no change during the past one week period from 1^st September, 2023 to 7^th September, 2023. The North American and U.S. steel scrap prices too witnessed no change during the week.

North America Prices

The #1 Bundle and #1 Busheling prices held steady over the week.

#1 HMS and HMS 80/20 prices too were flat on Index during the week.

The price movement of Sheet Metal over the week is depicted below:

The HMS 80/20 prices witnessed no change from previous week’s level of $280 per MT.

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

USA East Coast Prices

The price of various steel scrap commodities were stagnant during the previous week. The prices of #1 Bundle, #1 Busheling, #1 HMS, HMS 80/20, Sheet Metal and Shredded Auto Scrap held steady.

Also, the Structural Steel prices remained unchanged at $325 per MT on Index. The weekly price chart of the commodity is depicted in the below chart:

USA Midwest Prices

The region reported flat prices for various steel scrap categories. The below chart represents the variation in prices of #1 Busheling over the previous week:

USA West Coast Prices

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

The prices of HMS 80/20, Sheet Metal, #1 Busheling, Shredded Auto Scrap and #1 Bundle posted no change from prior-week levels.

China Prices

The Chinese steel scrap market remained flat during the week ended June 22^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 1^st September to 7^th September, 2023 is provided in the below chart.

LME Steel Market Update

The LME Steel Scrap CFR Turkey (Platts) Month 2 Closing price as on 1^st September, 2023 stood at $378.00 per tonne.

The LME Steel Rebar FOB Turkey (Platts) Month 2 Contract closed at $559.00 per tonne.

Meantime, LME Steel HRC North America (Platts) and LME Steel Scrap CFR India (Platts) Month 2 prices as on 7^th September, 2023 closed at $756.00 per tonne and $432.50 per tonne respectively.

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