Ferrous Scrap Prices Reference date: May 1, 2023
USA Domestic Scrap Prices* (US$/GRT)
HMS 1 heavy steel scrap (1/4 Inch) composite price delivered at mills
Source: Davis Index
Source: Davis Index
USA Export Prices* (US$/GRT)
HMS 1, heavy steel scrap (1/4 Inch)
Composite Sales Price
ex Yard in Germany** (€/t)
E3/European Standard Quality No. 3, heavy old steel scrap (>6mm)
CFR Prices for shipments
from EU to Turkey (US$/t)
HMS 80/20 heavy steel scrap
– Fob East Coast
price
– Fob West Coast
price
A M J J A S O N D J F M A
473 447 396 363 326 315 309 298 321 356 379 410 382
473
447
396
363
326
315
309
298
321
356
379
410
382
200
250
300
350
400
450
500
A M J J A S O N D J F M A
A M J J A S O N D J F M A
602 440 354 350 352 328 327 314 360 385 406 428 394
558 365 379 357 364 347 347 324 361 389 408 415 385
602
440
354 350 352
328
327
314
360
385
406
428
394
558
365
379
357 364
347 347
324
361
389
408
415
385
300
350
400
450
500
550
600
650
A M J J A S O N D J F M A
A M J J A S O N D J F M A
637 471 389 375 380 354 358 338 379 404 422 445 416
637
471
389
375
380
354 358
338
379
404
422
445
416
180
230
280
330
380
430
480
530
580
630
680
A M J J A S O N D J F M A
A M J J A S J N D J F M A
538,9 462 358 315 326 320 315 319,7 324 354,1 357 384 389
538,9
462
358
315
326 320
315
319,7
324
354,1
357
384
389
250
300
350
400
450
500
550
A M J J A S J N D J F M A
Spain, Turkey, Ukraine, the United
Arab Emirates (UAE) and the UK.
Meanwhile, in mid-March, Canada
banned the import of all Russian alu-
minium and steel products in a move
that Ottawa said was aimed at deny-
ing Russia the ability to fund its war
against Ukraine. The ban covers both
finished and unfinished products.
SCHNITZER SHINES
Tamara Lundgren, board chair and
ceo of Schnitzer Steel Industries, has
spoken of brighter prospects for the
big US metal recycler after it returned
a positive net income figure in its
second quarter, which ended on 28
believe the structural demand for
recycled metals remains positive,
supported by the transition to low
carbon technologies, the increased
focus on decarbonisation and the
expected funding related to the
Infrastructure Investment and Jobs
Act and the Inflation Reduction Act,
including Buy Clean provisions.’
EARTHQUAKE OPPORTUNITIES
The ceo also expects greater export
opportunities to trade scrap to
Turkey following the February earth-
quake. ‘Recently, the Turkish govern-
ment announced the country’s need
for five million tonnes of steel to sup-
MARKET ANALYSIS
88
February. Schnitzer’s net income of
US$ 4 million in the quarter was a
marked improvement on the US$ 18
million loss in the first quarter.
‘Our strong sequential performance
improvement reflects strengthening
demand and prices for recycled met-
als and the resolution of the opera-
tional disruptions we faced in the first
quarter.
The company expects a further
improvement in results in the third
(current) quarter driven by an expan-
sion of metal margins as it benefits
from shipments contracted at higher
prices and as supply flows improve.
Lundgren concludes, ‘We continue to
86-87-88-89_maferrous.indd 88 03-05-2023 17:07
