Check back next week for updates on May’s Scrap Market. The post Coming Soon – May’s Scrap Market appeared first on BLDuke ..read more

The ferrous scrap metal market in April is a reflection of March’s market, with prices remaining unchanged across the Midwest. Ferrous trade also wrapped up at an unprecedented pace, indicating that the scrap market may have reached its lowest point in most regions. Chicago’s Ferrous Scrap Metal Market In Chicago, the scrap metal trade concluded at the end of business on April 4th, with the market showing no changes from March. The stability in the market signifies supply and demand are well-aligned. Factors such as scheduled mill outages, the recovery in hot rolled coil (HRC) prices, incre ..read more

Since the beginning of the year, the ferrous scrap metal market has been on a rocky road, marked by two consecutive months of falling prices. Looking ahead, planned mill outages and seasonal fluctuations in collection rates could potentially drive scrap prices lower over the following two months. In contrast, the non-ferrous scrap market has experienced a slight increase due to enhanced overall demand. Chicago’s Ferrous Scrap Metal Market Chicago ferrous scrap market crumbled to downward pressure, with March’s market experiencing a decline ranging from $20 to $60 per gross ton. The market w ..read more

Scrap buyers took down the market on the heels of lower finished steel prices and shorter lead times.  Stable export prices and January’s cold snap limited the downside of ferrous scrap metal prices across the US. Chicago’s Ferrous Scrap Metal Market Scrap negotiations froze up as February’s trade kicked off in Chicago.  Scrap dealers were met with canceled orders and limited demand, ultimately suppressed February’s scrap market.   Prime grades took the biggest hit at down $30 per gross and cut grades decreased $10 – $15 per gross compared to January.  Shredded scrap ..read more

Steel mills hit the brakes and stayed relatively quiet during January’s ferrous trade.  What was forecasted to be a big start to 2024’s scrap metal market became contentious, with price delays and markets ultimately trading sideways across most of the Midwest. Chicago’s Ferrous Scrap Metal Market Chicago’s scrap metal market settled sideways this month despite the expectation that prices would increase following December’s soaring market.  There was no price change for prime grades, cut grades,  or steel turnings this month.  January’s market was formed by limited do ..read more

As we wind down 2023, Chicago’s ferrous scrap market soared to unexpected levels, with all scrap metal grades enjoying a significant month-to-month price increase.  Chicago’s Ferrous Scrap Metal Market Domestic scrap metal buyers were met with a surge in export activity, fueling stiff competition for tons this month.  In Chicago, Scrap Dealers leveraged demand and ultimately pushed prices up $80 per gross ton for prime grades while cut grades and steel turnings increased $40 per gross ton compared to November.  The surge in export demand, coupled with depressed scrap flows and r ..read more

Temperatures may be cooling down, but scrap metal demand is heating up. A healthy appetite for scrap metal was met with tight inventories this month, and the expectation is that US ferrous scrap prices will continue to rise over the next 90 days. Chicago’s Ferrous Scrap Metal Market November’s ferrous trade quickly became a seller’s market, with prices increasing $10 – $30 per gross ton in Chicago. A tentative resolution of the UAW strike, fewer steel mill maintenance outages, HRC price hikes, surprisingly robust export activity, and the reopening of the Illinois River have bolstered scrap pri ..read more

The Midwest’s healthy appetite for scrap metal was met by tight inventories and Scrap Dealers’ reluctance to sell tons as October appears to be the bottom of the market. The futures market is up, and demand will increase in November when most steel mill maintenance outages are completed. Chicago’s Ferrous Scrap Metal Market In Chicago, the reopening of the Illinois River, tight supply, and strong demand kept October’s scrap prices mostly unchanged. Steel mills secured prime grades even to September’s prices and corrected the spread between prime and shredded scrap and cut structural/plate.&n ..read more

The US ferrous scrap market slowly took shape, and regional prices were delayed to settle.  Monthly ferrous trade is conducted the first week of the month, and prices typically post on or before the 10th day of the month.  The uncertainty over prime scrap pricing delayed trade late into the first week of September, with regional prices finally posting on Monday, September 11th. Chicago’s Ferrous Scrap Metal Market The looming US auto strike, steel mill outages, lower finished steel prices, and an uptick in export demand came together to form September’s ferrous scrap market.  ..read more

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