The LME Steel Rebar FOB Turkey (Platts) Month 2 Contract closed at $680.0 per tonne.
SEATTLE (Scrap Monster):The weekly analysis of the Scrap Monster Price Index data suggests that steel scrap prices in regions across the globe witnessed no change during the past one week period from 5th January, 2023 to 12th January, 2023.
The #1 Bundle and #1 Busheling prices held steady over the week.
The price movement of #1 Bundle over the week is depicted below:
#1 HMS and HMS 80/20 prices too were flat on Index during the week.
The Sheet Metal prices witnessed no change from previous week’s level of $235 per MT.
Also, no price change was seen in Shredded Auto Scrap and Structural Steel.
The price of various steel scrap commodities were stagnant during the previous week. The prices of #1 Bundle, #1 Busheling, #1 HMS, HMS 80/20, Sheet Metal and Shredded Auto Scrap held steady.
Also, the Structural Steel prices remained unchanged at $310 per MT on Index.
The region reported flat prices for various steel scrap categories. The below chart represents the variation in prices of Structural Steel over the previous week:
The West Coast region steel scrap prices were unmoved, compared to the previous week.
The prices of HMS 80/20, Sheet Metal, #1 Busheling, Shredded Auto Scrap and #1 Bundle posted no change from prior-week levels.
The Chinese steel scrap market remained 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 Shredded Auto Scrap over the one-week period from 5th January, 2023 to 12th January, 2023 is provided in the below chart.
LME Steel Market Update
The LME Steel Scrap CFR Turkey (Platts) Month 2 Closing price as on 12th December, 2023 stood at $414.50 per tonne.
The LME Steel Rebar FOB Turkey (Platts) Month 2 Contract closed at $680.0 per tonne.
Meantime, LME Steel HRC North America (Platts) and LME Steel Scrap CFR India (Platts) Month 2 prices as on 12th January, 2023 closed at $707.50 per tonne and $457.00 per tonne respectively.
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