Following a six-week consultation period, Fastmarkets can confirm it will amend the calculation method for all the average functions on the Fastmarkets platform from Wednesday March 1, 2023.

Consolidation, the recycling of electric vehicle batteries, US steel exports and the benefits of sustainable steelmaking were key talking points at Fastmarkets’ Scrap & Steel 2023 conference in Dallas in January

Green shoots of increased demand will emerge in US ferrous markets courtesy of the Biden administration’s trillion-dollar infrastructure package in 2023, Schnitzer's executive vice president and chief strategy officer Richard Peach said at Fastmarkets’ Steel and Scrap Conference 2023 in Dallas, Texas

“Green steel” will not have a single definition or path to success but will vary by product and location, and will change over time, the American Iron and Steel Institute’s (AISI) top executive told Fastmarkets

There is no global scrap shortage looming, the top executive at Commercial Metals Co (CMC) told a packed room at Fastmarkets’ Scrap & Steel North America 2023 event in Dallas, adding that while there is no decarbonization blueprint for the steel industry to follow, the shift to electric-arc furnace (EAF) steel production is key to meeting “green” targets

The scrap industry in the US is expected to continue to consolidate, which benefits the market overall, panelists said at Fastmarkets’ event this week

Despite growing concerns around the health of the US economy and the impact of rising inflation, the US ferrous scrap market should stabilize and recover moderately this year after a period of sustained downside pressure throughout much of 2022, according to panelists at Fastmarkets’ Scrap & Steel conference 2023 in Dallas, Texas

Year-on-year increases in contract base prices for special bar quality (SBQ) steel products put 2023 deal levels on par with spot prices seen early this month, market participants told Fastmarkets, noting that some buyers also negotiated shorter contract terms on fears of a price drop late next year

Fastmarkets made the decision to transition the pricing of Houston ferrous scrap prices from dealer selling to consumer buying assessments in August 2022.

Given the sharp price increases recorded by several major seaborne steel scrap markets at the start of this new year, it can be easy to forget the host of structural issues still bubbling under the surface of the trade