Steel Scrap Prices: Weekly Market Report – October 18, 2024

SEATTLE (Scrap Monster):Based on price data compiled from the Scrap Monster Price Index, one could see that steel scrap prices increased across the board during the past one week period from October, 11 to October 17, 2024.

North America Prices

The prices of #1 HMS and Structural Steel scrap recorded the biggest increase, rising by 5% each over the previous week.

The chart below provides weekly price trends in #1 HMS Scrap in the North American region:

The Sheet Metal prices were up by 4.55% over the prior week.

Also, notable price increases were reported in Shredded Auto Scrap and HMS 80/20, whose prices jumped higher by 4.11% and 4% respectively.

The prices of #1 Bundle rose from $360 per MT at the start of the week to $370 per MT.

The least week-on-week increase in prices was seen in #1 Busheling.

USA East Coast Prices

The price of all steel scrap commodities inched higher during the previous week.

The prices of #1 HMS and Structural Steel scrap recorded the largest increase, rising by 5% each over the prior week. The weekly price chart of Structural Steel is provided below:

The Sheet Metal prices rose by 4.55% from $220 per MT to $230 per MT during the week. 

Also, Shredded Auto Scrap and HMS 80/20 were up by 4.11% and 4% respectively over the prior week.

#1 Bundle prices recorded an increase of 2.78%.

The prices of #1 Busheling too edged higher by 2.63% upon comparison with the previous week.

USA Midwest Prices

The region reported increase in prices of all commodities.

The prices of #1 HMS and Structural Steel scrap recorded the largest increase, witnessing a rise of 5% each over the prior week.

The other scrap categories to report significant jump in prices were Sheet Metal, Shredded Auto Scrap and HMS 80/20.

The below chart depicts the weekly price movement in Sheet Metal:

The least increase in prices were recorded in #1 Bundle and #1 Busheling, whose prices were up by 2.78% and 2.63% respectively over the prior week.

USA West Coast Prices

The prices of #1 HMS and Structural Steel recorded the biggest jump, increasing by 5% each over the prior week.

The Sheet Metal prices too were up by 4.55% over the prior week.

Also, notable price increases were reported in Shredded Auto Scrap, HMS 80/20 and #1 Bundle. The prices of Shredded Auto Scrap went up by 4.11%. In the meantime, the prices of HMS 80/20 and #1 Bundle increased by 4% and 2.78% respectively.

The least week-on-week increase in prices was seen in #1 Busheling Scrap, whose prices edged higher from $380 per MT at the start of the week to end at $390 per MT on October 17, 2024.

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 Grade OA Structural Plate over the one-week period from October, 11 to October 17, 2024 is provided in the below chart.

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