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

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