Steel Scrap Prices: Weekly Market Report –2nd February, 2024
The LME Steel Rebar FOB Turkey (Platts) Month 2 Contract closed at $620.00 per tonne.
SEATTLE (Scrap Monster):Based on price data compiled from the Scrap Monster Price Index, one could see that steel scrap prices exhibited no change during the past one week period from 26th January to 1st February, 2024.
North America Prices
The #1 Bundle and #1 Busheling prices held steady on Index. The prices of #1 HMS, HMS 80/20, Sheet Metal and Shredded Auto Scrap recorded no change over the previous week.
Also, prices of Structural Steel were flat over the week.
The chart below provides weekly price trends in #1 Busheling scrap in the North American region:
USA East Coast Prices
The price of various steel scrap commodities remained flat during the previous week. The prices of #1 Bundle and #1 Busheling were flat. Also, HMS 80/20, Sheet Metal and Shredded Auto Scrap maintained previous week’s price levels.
The price chart of HMS 80/20 is given below:
USA Midwest Prices
The region reported no changes in prices of #1 Bundle and #1 Busheling week-on-week. No price variations were seen in HMS 80/20, Sheet Metal and Shredded Auto Scrap.
Meantime, #1 HMS and Structural Steel prices held steady on a weekly basis.
The below chart depicts the weekly price movement in Sheet Metal:
USA West Coast Prices
The West Coast region #1 Bundle and #1 Busheling prices recorded no change, compred to the previous week. The prices of HMS 80/20, Sheet Metal and Shredded Auto Scrap held on to its prior-week levels. Compared to last week, #1 HMS and Structural Steel prices witnessed no change.
China Prices
The Chinese steel scrap market has been flat during the week. The prices of #1 HMS scrap 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 Shredded Auto Scrap over the one-week period from 26th January to 1st February, 2024 is provided in the below chart.
LME Steel Market Update
The LME Steel Scrap CFR Turkey (Platts) Month 2 Closing price as on 1st February, 2024 stood at $420.00 per tonne.
The LME Steel Rebar FOB Turkey (Platts) Month 2 Contract closed at $620.00 per tonne.
Meantime, LME Steel Scrap CFR India (Platts) Month 2 prices as on 1st February, 2024 closed at $413.50 per tonne.
Scrap Metal Prices
| Copper Scrap | ||
| Alternator | 0.41 | $US/Lb |
| #1 Copper Bare Bright | 4.30 | $US/Lb |
| Aluminum Scrap | ||
| 356 Aluminum Wheels (Clean) | 0.80 | $US/Lb |
| 6061 Extrusions | 0.70 | $US/Lb |
| Steel Scrap | ||
| #1 Bundle | 360.00 | $US/MT |
| #1 Busheling | 380.00 | $US/MT |
| Electronics Scrap | ||