Research

Forecasts and market analysis based on price assessments from Fastmarkets MB and Fastmarkets AMM

Change font size:   

August 2008 | Steel Raw Materials


Domestic US prices take a tumble: North American Highlights


Average domestic prices for HMS No.

Average domestic prices for HMS No.1 stand at $450/l.ton in August down $65/l.ton month-on-month. Prices for shredded material have fallen to $530/l.ton, down $70/l.ton month-on-month; and No.1 bundles and No.2 bundles stand at $850/l.ton and $428/l.ton down $50/l.ton and $40/l.ton, respectively. Prices for prime grades have suffered because of increased supply. A pick up in industrial and automotive production after several months of slowing activity has resulted in greater availability of bundles and bushelling on the market, to the detriment of prices (see chart). Meanwhile, US ferrous scrap exporters continue to complain of a softening in the offshore market that has endured for the past month (see chart), in part because finished product prices have retreated in key export markets and also due to an excess of scrap inventories at several overseas mills. Indeed, total exports from US scrap yards dropped nearly 7% month-on-month in June,...

ACCESS RESTRICTED

You must be a paid subscriber to view the full content.
Content over 60 days old can only be accessed by subscribers.
Call +44(0)20 7779 8000 with your credit card details or subscribe online.


SUBSCRIBE


Receive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts. Plus download the latest issue as soon as it’s published.

Subscribe


Already subscribed?