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

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March 2019 | Steel Raw Materials

US domestic scrap prices to be supported by low supply, high demand: Scrap Highlights

US ferrous scrap exports rose 15.7% year on year in 2018 to 17.33 million tonnes, according to US Census Bureau data.

As we expected, US domestic scrap prices rose in March’s monthly settlements, amid rising domestic and export demand. Prices increased $20 per long ton across the board of US ferrous scrap grades, which was the first monthly rise seen since November 2018. As previously discussed, US domestic scrap prices correlate more closely with changes in export scrap prices and demand than changes in US domestic demand and steel prices (see January 9 issue). Export demand has been strong, with the US selling at least 313,000 tonnes of ferrous scrap to Turkey in January and February, compared with no sales...


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