Scrap Steel Prices: Weekly Market Report – June 28th, 2024
The LME Steel Scrap CFR Turkey (Platts) Month 2 Closing price as on 27th June, 2024 stood at $387.50 per tonne.
SEATTLE (Scrap Monster):The weekly analysis of the Scrap Monster Price Index data suggests that steel scrap prices in all regions witnessed decline during the past one week period from 21st June, 2024 to 27th June, 2024.
North America Prices
The #1 Bundle and #1 Busheling prices were down by $10 per MT each.
The price movement of #1 Bundle over the week is depicted below:
#1 HMS and HMS 80/20 prices too recorded decline by $5 per MT each on Index during the week.
The Sheet Metal prices declined by $5 per MT, falling from $225 per MT to $220 per MT.
Also, the prices of Shredded Auto Scrap and Structural Steel recorded decline on Index.
USA East Coast Prices
The price of various steel scrap commodities registered decline during the previous week. The prices of #1 Bundle, #1 Busheling, #1 HMS, HMS 80/20, Sheet Metal, Shredded Auto Scrap and Structural Steel held steady.
The price chart of #1 Busheling for the week ended 27th June, 2024 is given below:
USA Midwest Prices
The region reported dip in prices for various steel scrap categories. The below chart represents the variation in prices of Sheet Metal over the previous week:
USA West Coast Prices
The West Coast region steel scrap prices were down, compared to the previous week.
The prices of HMS 80/20, #1 HMS, Sheet Metal, #1 Busheling, Structural Steel, Shredded Auto Scrap and #1 Bundle posted decline from prior-week levels.
China Prices
The Chinese steel scrap market remained flat during the week. 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 Structural Steel over the one-week period from 21st to 27th June, 2024 is provided in the below chart.
LME Steel Market Update
The LME Steel Scrap CFR Turkey (Platts) Month 2 Closing price as on 27th June, 2024 stood at $387.50 per tonne.
The LME Steel Rebar FOB Turkey (Platts) Month 2 Contract closed at $581.50 per tonne, down upon comparison with $576.00 per tonne during the close of the previous week.
Meantime, LME Steel Scrap CFR India (Platts) Month 2 prices as on 27th June, 2024 closed at $415.00 per tonne respectively.
Scrap Metal Prices
| Copper Scrap | ||
| Alternator | 0.33 | $US/Lb |
| #1 Copper Bare Bright | 3.95 | $US/Lb |
| Aluminum Scrap | ||
| 356 Aluminum Wheels (Clean) | 0.76 | $US/Lb |
| 6061 Extrusions | 0.67 | $US/Lb |
| Steel Scrap | ||
| #1 Bundle | 385.00 | $US/MT |
| #1 Busheling | 405.00 | $US/MT |
| Electronics Scrap | ||