US Shredded Scrap prices shoot up by 15 percent during March

Published: Apr 7, 2017 09:48

Save

United States shredded scrap prices shot up by 15.1 percent month-on-month to $324.50 a long ton during the month of March this year, according to the Steel Index.

UNITED STATES April 06 2017 11:26 PM

NEW YORK (Scrap Register): United States shredded scrap prices shot up by 15.1 percent month-on-month to $324.50 a long ton during the month of March this year, according to the Steel Index.
March Buy Week resulted in a gain for scrap prices as the TSI US Midwest Shredded Scrap 10-day average gained US $43 a long ton to close at $324 a long ton.
Finished steel prices have remained steady throughout the month of March with TSI’s daily US HRC index remaining in the $650-660 a short ton range.
The forward curve in the futures market for US HRC continues to remain in backwardation with late H2 2017 settlements below $600 a short ton.
Market participants on both sides of the transaction are expecting a decline in the scrap market for April settlements. Obsolete grades are predicted to lead the decline with prime grades following.
Mill utilization rates have dipped below 75% and global scrap markets have experienced weakness of late. The TSI Turkish Import HMS #1&2 80/20 Scrap Index lost $18 a ton over the course of the month of March ending at $265 a ton.

shredded scrap prices steel ferrous scrap prices

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

Sep 11, 2026 18:30

Australia Reviews Anti-Dumping Duties on Galvanized Steel from India, Malaysia, Vietnam Amid Zinc Concerns

On September 9, 2026, Australia initiated its second sunset review of anti-dumping measures on galvanized steel sheet from India, Malaysia and Vietnam, and separately launched a sunset review of countervailing measures on imports from India. The review covers July 2025-June 2026, with the final report expected by February 11, 2027. As galvanized steel is the largest end-use sector for zinc, the measures directly affect export costs and competitiveness, potentially impacting Australia’s domestic zinc demand and supply chain. Maintaining the duties would provide some protection for domestic steel and coating capacity, while termination could increase low-priced imports and affect regional zinc consumption. The final outcome remains subject to the authorities’ determination.

Sep 11, 2026 18:30

Sep 7, 2026 15:43

JCC Hongyuan Copper's $200M Expansion Project Aims to Boost Capacity to 550,000 mt by 2027

The 300,000 mt/year copper cathode expansion project of JCC Hongyuan Copper, a subsidiary of Jiangxi Copper Corporation, entered the pre-approval public notice stage of its environmental impact assessment on September 4, with a total investment of approximately 1.416 billion yuan. The project is planned to start construction in September 2026 and be completed in December 2027. Upon completion, JCC Hongyuan's total capacity will jump from 250,000 mt to 550,000 mt.

Sep 7, 2026 15:43

Sep 3, 2026 19:00

Japanese Yen Increases USD/JPY Drops Below 159 Amid Intervention Speculation

[SMM Precious Metal Express] The Japanese yen spiked sharply during Wednesday's trading, with USD/JPY falling below 159 and closing down 0.92% at 158.69, sparking speculation of Japanese currency intervention. The dollar index also dropped sharply, with a weaker dollar environment providing support for precious metals.

Sep 3, 2026 19:00