The Chinese steel scrap market has been flat during the week. The prices of #1 HMS witnessed no change from the prior week.
SEATTLE (Scrap Monster):The weekly analysis of the Scrap Monster Price Index data suggests that steel scrap prices in most regions witnessed wild swing upwards during the past one week period from 9th December, 2022 to 15th December, 2022.
The #1 HMS and Structural prices recorded massive jump, rising by nearly 23% each. The price chart of both the commodities are given below:
The HMS 80/20 prices surged higher from $250 per MT to $270 per MT over the week.
Sheet Metal and #1 Bundle prices too were up by 6.98% and 6.06% respectively.
The Bundle and #1 Busheling prices held steady on Index. The prices of #1 HMS, HMS 80/20, Sheet Metal and Shredded Auto Scrap recorded no change over the previous week.
The least increase was recorded in $1 Busheling.
The price of various steel scrap commodities recorded significant increase during the previous week. The prices of Structural Steel and #1 HMS edged higher by $60 per MT each. A jump in prices by $20 per MT was reported in #1 Bundle, #1 Busheling, HMS 80/20 and Shredded Auto Scrap.
Sheet Metal prices edged higher by 6.98% from the prior week.
The region reported higher prices for steel scrap categories across the board. The highest increase was seen in prices of Structural Steel and #1 HMS. These were followed by HMS 80/20, Sheet Metal and #1 Bundle.
Meantime, #1 Busheling and Shredded Auto Scrap witnessed decline in prices by 5.71% and 5.63% respectively, upon comparison with the prior week.
The West Coast region Structural Steel and #1 HMS prices recorded biggest increase, compared to the previous week.
The prices of HMS 80/20, Sheet Metal, #1 Busheling and #1 Bundle too posted gains from prior-week levels. Compared to last week, Shredded Auto Scrap, whose weekly price chart is provided below, witnessed smallest surge in prices.
The Chinese steel scrap market has been flat during the week. The prices of #1 HMS witnessed no change from the prior week. Cast Iron Scrap prices held steady, as shown in the below chart.
The prices of all steel scrap commodities such as #1 HMS, Cast Iron Scrap, Grade 1 Old Steel, Grade 2 Old Steel, Grade OA Structural Plate, Sheet Metal, Shredded Auto Scrap and Structural Steel held steady when compared with the week before.
The price variation in Sheet Metal over the one-week period from 9th to 15th Dec, 2022 is provided in the below chart.
LME Steel Market Update
The LME Steel Scrap CFR Turkey (Platts) Month 2 Closing price as on 15th December, 2022 stood at $386.0 per tonne.
The LME Steel Rebar FOB Turkey (Platts) Month 2 Contract closed at $670.0 per tonne.
Meantime, LME Steel HRC North America (Platts) and LME Steel Scrap CFR India (Platts) Month 2 prices as on 15th December, 2022 closed at $692.50 per tonne and $426.50 per tonne respectively.
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