The US Midwest ferrous scrap market extended its upward momentum, rising in February for the first time since 2010 on strong export, good order books and low scrap inventories

Hot-rolled coil prices in the US South brushed against $40 per hundredweight on higher mill offers, but continued to trail their Midwest counterparts due to skeptical buyers with sufficient inventories to wait out what they said was likely a short-term surge

Low supply, strong demand to spur scrap prices higher in Feb, market says

What does 2023 have in store for the US scrap market? Find out today in our monthly US steel scrap price trends outlook

The outlook for the steel plate industry in the United States is cloudy for 2023 due to three conflicting factors: more incoming supply, expectations for stronger demand and the decoupling of the plate market from hot-rolled coil prices

Positive feedback has spurred Aurubis to expand its investment in the United States and examine growth opportunities globally within its core business and in new fields

The US domestic ferrous scrap trade has kicked off with higher offers across the board, but market participants indicated that negotiations have turned rocky in some regions, with some sellers holding out for bigger increases

The domestic US ferrous scrap market has been slow to develop, with resilient sellers holding out for better offers

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

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