Research

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

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April 2019 | Steel Raw Materials


Higher supply pushes down US scrap prices even as demand remains strong: Scrap Highlights


US steel production rose 7.2% on a cumulative year-on-year basis to 24.21 million tonnes for the first 13 weeks of 2019, according to the American Iron and Steel Institute (AISI).

Contrary to our expectations, US domestic scrap prices fell in April. The price drops depended both on region and grade, with HMS#1 in Chicago and Pittsburgh falling $25 per long ton, while in Philadelphia, supported by decent export demand, prices dropped $20. In the higher-grade scrap market, while busheling and bundles prices in Pittsburgh fell $20, those in Chicago and Philadelphia dropped $25. That kept the spread between HMS#1 and busheling #1 at $60 in Chicago, stable compared with March but down from...

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