The steel scrap market is undergoing a monumental shift as the pull of decarbonization, growing market consolidation and supply shortages propel steel scrap into 'hot' commodity status

Deacon Lumber Company’s Stinson Dean shares his insights on the causes of price volatility and managing price risks

While demand for stainless scrap remains very weak in the United States, scrap prices for the 300-series grades jumped this week on continued tight supply and a spike in London Metal Exchange nickel prices, with the nickel cash contract at its highest since May

Price trends and shifting market dynamics

Governments of countries which are responsible for half of the global gross domestic product (GDP) outlined new targets for the previously agreed Breakthrough Agenda, a 12-month action plan to accelerate the drive toward decarbonization, delegates heard on Friday November 11 at the United Nations’ COP27 climate change conference in Egypt

Base metals futures on the London Metal Exchange gave an overall positive performance during the morning trading session on Monday November 14, with the metals mostly continuing their upward trajectory from the previous week

Unprecedented scrap market volatility has created widespread uncertainty in global scrap price movements. Fastmarkets experts analyze the eight market-changing events influencing the global scrap markets

The London Metal Exchange has decided not to ban or otherwise change how it deals with Russian metal, the exchange said on Friday November 11

The United States Department of Commerce revoked Russia’s market economy status on Thursday, November 10, which is likely to lead to higher duties on aluminium imported from Russia and could potentially boost US aluminium premiums, sources told Fastmarkets

The acceptance of green steel so far has been limited by competitive market forces, but it is likely to remain a fundamental focus in the industry, according to market participants