The LME Steel Scrap CFR Turkey (Platts) Month 2 Closing price as on February 13, 2025 stood at $365.00 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 February 7 to February 13, 2025.
The prices of Structural Steel and #1 HMS recorded the biggest increase, each rising by 6.06% over the previous week.
The chart below provides weekly price trends in Structural Steel in the North American region:
The Shredded Auto Scrap prices were up by 5.19% over the prior week.
Also, notable price increases were reported in Sheet Metal and HMS 80/20, whose prices jumped higher by 2.08% and 1.82% respectively.
The prices of #1 Bundle rose from $390 per MT at the start of the week to $395 per MT.
The least week-on-week increase in prices was seen in #1 Busheling.
The price of all steel scrap commodities inched higher during the previous week.
The prices of Structural Steel and #1 HMS scrap recorded the largest increase, rising by 6.06% each over the prior week. The weekly price chart of #1 HMS is provided below:
The Shredded Auto Scrap prices rose by 5.19% from $385 per MT to $405 per MT during the week ended February 13, 2025.
Sheet Metal prices recorded an increase of 2.08%.
Also, #1 Bundle, #1 Busheling and HMS 80/20 prices edged higher over the prior week.
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 6.06% each over the prior week.
The other scrap categories to report significant jump in prices were Shredded Auto Scrap and Sheet Metal.
The below chart depicts the weekly price movement in Sheet Metal scrap:
The least increase in prices were recorded in #1 Bundle and #1 Busheling, whose prices were up by 1.28% and 1.22% respectively over the prior week.
The prices of #1 HMS and Structural Steel scrap recorded the biggest jump, increasing by 6.06% each over the prior week.
The Shredded Auto Scrap prices too were up by 5.19% over the prior week.
Also, notable price increases were reported in Sheet Metal and HMS 80/20. The prices of #1 Sheet Metal scrap went up by 2.08%. In the meantime, the prices of HMS 80/20 increased by 1.82% week-on-week.
#1 Bundle prices recorded an increase of 1.28%.
The least week-on-week increase in prices was seen in #1 Busheling, whose prices edged higher by 1.22%. The prices of the commodity ended the week at $415 per MT, upon comparison with $410 per MT at the start of the week.
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 Shredded Auto Scrap over the one-week period from February 7 to February 13, 2025 is provided in the below chart.
LME Steel Market Update
The LME Steel Scrap CFR Turkey (Platts) Month 2 Closing price as on February 13, 2025 stood at $365.00 per tonne.
The LME Steel Rebar FOB Turkey (Platts) Month 2 Contract closed at $573.50 per tonne.
Meantime, LME Steel Scrap CFR India (Platts) Month 2 prices as on February 13, 2025 closed at $381.00 per tonne.
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