Research

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

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September 2018 | North American Steels


US domestic scrap prices weaken in September, smaller drop predicted for October: Raw Material Highlights


Though US steel sales rise, scrap consumption is not the main beneficiary. US steel product shipments reached 56.29 million tonnes in January-July, up by 4.1% year on year from the 54.09 million tonnes over the same period of last year.

As expected, US domestic scrap prices recorded another fall during September’s monthly settlements. Settlements have been sluggish in the US this month, but early deals saw prices fall $20-30 for prime grades in Chicago, while obsolete prices fell $25. Meanwhile Philadelphia and Pittsburgh prices fell $20 across the board. US East Coast export HMS 1&2 prices were down by just $10 month on month on September 7 after a late-month rally, suggesting that export prices were not the main reason for the decline. Domestic scrap purchase volumes were low this month,...

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