Research

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

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November 2019 | Steel Scrap and Metallics Forecaster


US domestic scrap prices likely to see November rise but fundamentals remain weak: North America Market Analysis


Although export markets have strengthened, key domestic market factors remain shaky.

Monthly US scrap negotiations saw prices increase by $10-20 per long ton in November. A rise in Turkish import scrap prices helped drag US East Coast export prices up to $214 per metric tonne fob by October 30, up $23 month on month. As the first chart shows, US local scrap prices have remained closely aligned to price changes in Turkey this year – which remains the world’s largest single scrap importer. If early deals closed are replicated across the country, the Chicago HMS#1 price will have moved in the...

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