The LME Steel Scrap CFR Turkey (Platts) Month 2 Closing price as on January 30, 2025 stood at $363.50 per tonne.
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 January 24 to January 30, 2025.
The prices of #1 Bundle recorded the biggest increase, rising by 5.41% over the previous week.
The chart below provides weekly price trends in #1 Bundle scrap in the North American region:
The #1 Busheling prices were up by 5.13% over the prior week.
Also, notable price increases were reported in HMS 80/20 and $1 HMS, whose prices jumped higher by 3.77% and 3.13% respectively.
The prices of Structural Steel rose from $320 per MT at the start of the week to $330 per MT. Also Sheet Metal prices were down by 2.13%.
The least week-on-week increase in prices was seen in Shredded Auto Scrap, whose prices recorded a marginal decline of 1.32%.
The price of all steel scrap commodities inched higher during the previous week.
The prices of #1 Bundle and #1 Busheling scrap recorded the largest increase, rising by 5.41% and 5.13% respectively over the prior week.
The weekly price chart of #1 Busheling is provided below:
The HMS 80/20 prices rose by 3.77% from $265 per MT to $275 per MT during the week.
Also, #1 HMS and Structural prices were up by 3.13% each over the prior week.
The region reported increase in prices of all commodities.
The prices of #1 Bundle and #1 Busheling scrap recorded the largest increase, witnessing a rise of 5.41% and 5.13% respectively over the prior week.
The other scrap categories to report significant jump in prices were HMS 80/20, $1 HMS and Structural Steel.
The below chart depicts the weekly price movement in Structural Steel scrap:
The least increase in prices were recorded in Sheet Metal and Shredded Auto Scrap, whose prices were up by 2.13% and 1.32% respectively over the prior week.
The prices of #1 Bundle scrap recorded the biggest jump, increasing by 5.41% over the prior week.
The #1 Busheling prices also were up by 5.13% over the prior week.
Also, modest jump in prices were reported in HMS 80/20, $1 HMS and Structural Steel. The prices of HMS 80/20 scrap went up by 3.77%. In the meantime, the prices of $1 HMS and Structural Steel increased by 3.13% each.
The least week-on-week increase in prices was seen in Shredded Auto Scrap, whose prices edged down by 1.32%. The prices of Sheet Metal ended the week at $240 per MT, upon comparison with $235 per MT at the start of the week, registering a decline of 2.13%.
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.
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 Sheet Metal over the one-week period from January 24 to January 30, 2025 is provided in the below chart.
LME Steel Market Update
The LME Steel Scrap CFR Turkey (Platts) Month 2 Closing price as on January 30, 2025 stood at $363.50 per tonne.
The LME Steel Rebar FOB Turkey (Platts) Month 2 Contract closed at $577.00 per tonne.
Meantime, LME Steel Scrap CFR India (Platts) Month 2 prices as on 30th January, 2025 closed at $381.00 per tonne.
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