Steel Scrap Prices: Weekly Market Report – September 27, 2024
The LME Steel Scrap CFR Turkey (Platts) Month 2 Closing price as of September 26, 2024 stood at $379.50 per tonne.
SEATTLE (Scrap Monster):The weekly analysis of the Scrap Monster Price Index data suggests that steel scrap prices across all regions mostly held steady during the past one week period from September, 20 to September 26, 2024.
North America Prices
The #1 Bundle and #1 Busheling prices held steady over the week.
#1 HMS and HMS 80/20 prices also were flat on the Index during the week.
The Sheet Metal prices witnessed no change from previous week’s level of $220 per MT.
The prices of Structural Steel recorded no change on the Index.
Meanwhile, Shredded Auto Scrap prices witnessed a marginal decline of $5 per MT over the week.
Given below is the weekly price chart of Shredded Auto Scrap:
USA East Coast Prices
The price of most steel scrap commodities were stagnant during the previous week. The prices of #1 Bundle, #1 Busheling, #1 HMS, HMS 80/20, and Sheet Metal held steady.
The price chart of #1 Busheling scrap for the week ending September 26, 2024 is given below:
Also, Structural Steel prices remained unchanged at $300 per MT on the Index.
Shredded Auto Scrap prices recorded a weekly decline of 1.35%.
USA Midwest Prices
The region reported flat prices for various steel scrap categories. The below chart represents the variation in prices of HMS 80/20over 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, #1 HMS, Sheet Metal, #1 Busheling, Structural Steel, and #1 Bundle posted no change from prior-week levels.
Shredded Auto Scrap prices witnessed marginal decline on Index.
China Prices
The Chinese steel scrap market remained flat during the week. The #1 HMS prices witnessed no change from the prior week. Also, Cast Iron Scrap prices held steady at CNY 1,730 per MT, as displayed 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 September, 20 to September 26, 2024 is provided in the below chart.
LME Steel Market Update
The LME Steel Scrap CFR Turkey (Platts) Month 2 Closing price as of September 26, 2024 stood at $379.50 per tonne.
The LME Steel Rebar FOB Turkey (Platts) Month 2 Contract closed at $588.00 per tonne, marginally higher upon comparison with the closing price of $579.50 per tonne during the previous week.
Meantime, LME Steel Scrap CFR India (Platts) Month 2 prices as of September 26, 2024 closed at $396.50 per tonne.
Scrap Metal Prices
| Copper Scrap | ||
| Alternator | 0.37 | $US/Lb |
| #1 Copper Bare Bright | 4.21 | $US/Lb |
| Aluminum Scrap | ||
| 356 Aluminum Wheels (Clean) | 0.79 | $US/Lb |
| 6061 Extrusions | 0.69 | $US/Lb |
| Steel Scrap | ||
| #1 Bundle | 360.00 | $US/MT |
| #1 Busheling | 380.00 | $US/MT |
| Electronics Scrap | ||