Steel Scrap Prices: Weekly Market Report – December 27, 2024

SEATTLE (Scrap Monster):The weekly analysis of the Scrap Monster Price Index data suggests that steel scrap prices in all regions witnessed mixed trend during the past one week period from December 20 to December 26, 2024

North America Prices

The #1 Bundle prices recorded the biggest fall, declining by 2.7% from the previous week to close at $360 per MT.

Shredded Auto Scrap prices were down by 2.67%. The commodity prices ended the week at $365 per MT on the Index.

The price movement in Shredded Auto Scrap over the week is depicted below:

#1 Busheling prices also were down by 2.56%.

Meanwhile, #1 HMS, HMS 80/20, Sheet Metal, and Structural Steel prices were flat on the Index during the week.

USA East Coast Prices

The price of majority of steel scrap commodities were stagnant during the previous week. The prices of #1 HMS, HMS 80/20, Sheet Metal, and Structural Steel held steady.

The price chart of HMS 80/20 scrap for the week ending December 26, 2024 is given below:

In contrast, #1 Bundle, #1 Busheling, and Shredded Auto Scrap prices declined on the Index. #1 Bundle prices were down by 2.7%, whereas Shredded Auto Scrap recorded decline by 2.67%. Also, #1 Busheling prices witnessed a reduction of $10 per MT, falling from $390 per MT at the start of the week to $380 per MT as of December 26, 2024.

USA Midwest Prices

The region reported flat prices for certain steel scrap categories such as #1 HMS, HMS 80/20, Sheet Metal and Structural Steel. However, the prices of #1 Bundle, #1 Busheling, and Shredded Auto Scrap declined over the previous week. The below chart represents the variation in prices of #1 Busheling scrap over the previous week:

USA West Coast Prices

The West Coast region #1 HMS, HMS 80/20, Sheet Metal and Structural Steel scrap prices were unmoved, compared to the previous week.

In contrast, the prices of #1 Bundle, #1 Busheling, and Shredded Auto Scrap posted declines from prior-week levels.

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 scrap over the one-week period from December 20 to December 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 December 24, 2024 stood at $349.50 per tonne.

The LME Steel Rebar FOB Turkey (Platts) Month 2 Contract closed at $573.50 per tonne, marginally lower upon comparison with the closing price of $574.50 per tonne during the previous week.

Meantime, LME Steel Scrap CFR India (Platts) Month 2 prices as of December 24, 2024 closed at $390.50 per tonne.

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