Scrap Steel Prices: Weekly Market Report – February 9th, 2024

The LME Steel Rebar FOB Turkey (Platts) Month 2 Contract closed at $610.00 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 2^nd to 8^th 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 Bundle 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 #1 HMS:

USA West Coast Prices

The West Coast region #1 Bundle and #1 Busheling prices recorded no change, compared 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 Structural Steel over the one-week period from 2^nd to 8^th 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 8^th February, 2024 stood at $410.00 per tonne.

The LME Steel Rebar FOB Turkey (Platts) Month 2 Contract closed at $610.00 per tonne.

Meantime, LME Steel Scrap CFR India (Platts) Month 2 prices as on 8^th February, 2024 closed at $416.00 per tonne.

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