The US steel scrap market may drag the bottom in August with the market caught in a stalemate between tight supply and low demand

The US ferrous scrap market remains in limbo ahead of August’s ferrous trade, with participants divided as to whether summer demand from the domestic and export markets will tip the balance of extremely low scrap flows in US sellers’ favor next month

North American steel scrap prices could face their third consecutive month of decline across all grades in July as traditional summer production slowdowns hinder demand

The outlook for North American steel scrap prices has headed further into bearish territory ahead of June's trade, with prices for all grades expected to fall again after a round of across-the-board decreases in May

North American ferrous scrap prices are due a further downward correction in May following drops incurred on cut grades and shredded scrap in April; primes trended sideways over the period

North American steel scrap prices are expected to rise in April, for a fifth straight month, supported by a lingering shortage of certain grades of material and steady demand

Hot-rolled steelmaking capacity in the US South increased by nearly a quarter in a two-year period and is still growing, which sources believe will help to keep prices relatively low

March ferrous market poised for staunch increase

Steel demand coming from new facilities being constructed in North America amid nearshoring trends is expected to materialize between the end of 2023 and 2025, Latin American steelmaker Ternium said on Wednesday February 15

Flat-rolled steel producers in the United States increased spot prices for the fifth time in less than three months on Monday February 13, led by an uptick in spot demand and higher scrap prices, according to market participants; the latest hikes bring the total increases to $260 per short ton