argus us ferrous scrap
TRANSCRIPT
Copyright © 2021 Argus Media group
Argus US Ferrous Scrap
Issue 21-3 | Monday 12 April 2021
Available on the Argus Publications App
Market highlights
� April domestic ferrous scrap prices traded almost uniformly across the US, with prime grades sideways and obsolete grades dropping by $20/gt from March levels. Canada domes-tic prices largely mirrored the US.
� The April trade grew the spread between #1 busheling and shredded scrap to a new record high of $133/gt, compared to a 2020 average of $23/gt.
� Prime supply remained constrained by semiconductor short-age impacts on auto production, but mills were able to cover needs for April deliveries without raising prices.
� Machine shop turnings prices saw more downward pressure than other grades, trading down by $20-30/gt from March depending on location.
� Finished steel prices continued to rise, with the hot-rolled coil premium to #1 busheling increasing to $828/st.
News of Note
� Biden rolls out $2 trillion infrastructure bill � US auto production could take 1.3mn hit in 2021 � Commerce secretary defends 232 tariffs � Brazil imports bulk US ferrous scrap in March � MSC freight hike adds to container woes
Us national average scrap trends $/gt
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#1 busheling Shredded
Us vessel imports of eaf feedstocks ’000t
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Pig iron DRI/HBI Ferrous scrap
Argusestimates
Us steel capacity utilization vs steel/scrap prices
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Capacity utilization, % (right) HRC ex-works Midwest, $/st
#1 busheling del US avg, $/gt Shredded del US avg, $/gt
Us hrC/busheling spread $/st
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Sep 20 Oct 20 Nov 20 Dec 20 Jan 21 Feb 21 Mar 21
Licensed to: Sameer Virani, Argus Media Limited (London)
Copyright © 2021 Argus Media group
Issue 21-3 | Monday 12 April 2021Argus US Ferrous Scrap
Page 2 of 3
US monthly ferrous scrap prices delivered mill $/gt
April 2021 #1 busheling ± #1
bundles ± Shredded ± P&S, 5ft ± #1 HMS ±Machine
shop turnings
± Tin can bundles ±
NE Arkansas 575 nc - - 410 -20 425 -20 395 -20 345 -20 - -
Birmingham 560 nc - - 425 -20 405 -20 380 -20 300 -20 - -
Carolinas 545 nc - - 415 -20 400 -20 390 -20 315 -20 - -
Chicago 560 nc 560 nc 430 -20 445 -20 410 -20 300 -30 - -
Cincinnati/Indianapolis 560 nc 560 nc 430 -20 435 -20 415 -20 310 -25 - -
Cleveland/Youngstown 590 nc 590 nc 435 -20 415 -20 400 -20 335 -20 385 -20
Dallas 565 nc - - 400 -20 385 -20 365 -20 305 -20 - -
Detroit 565 nc 560 nc 430 -20 425 -20 390 -20 310 -20 370 -20
Houston/San Antonio 525 nc - - 370 -20 365 -20 350 -20 265 -20 - -
Philadelphia 510 nc 510 nc 430 -20 395 -20 385 -20 305 -20 - -
Pittsburgh 560 nc - - 430 -20 420 -20 395 -20 285 -20 390 -20
Quad Cities 560 nc - - 415 -20 415 -20 390 -20 310 -30 - -
National average 556 556 418 411 389 307 382
US monthly dealer selling prices fob $/gt
April 2021 #1 busheling ± #1 bundles ± Shredded ± P&S, 5ft ± #1 HMS ± Machine shop turnings ±
Buffalo 550 nc 550 nc 420 -20 410 -20 380 -20 290 -20
Denver 555 nc 555 nc 355 -10 345 -10 335 -10 - -
Houston 520 nc - - 355 -20 345 -20 330 -20 245 -20
St. Louis 585 nc 585 nc 390 -20 405 -20 375 -20 315 -30
Canada monthly ferrous scrap prices delivered mill C$/st
April 2021 #1 busheling ± #1
bundles ± Shredded ± P&S, 5ft ± #1 HMS ±
Machine shop
turnings± Shredder
feed ± P&S, 2ft ±
Montreal 505 nc - - - - 390 -20 360 -20 290 -20 265 -15 460 -20
Toronto/Hamilton 616 -4 618 -4 495 -25 480 -25 450 -25 375 -25 - - - -
US monthly foundry scrap delivered consumer $/gt Timing Price ±
Chicago
Black/foundry busheling 9 Apr 640 nc
Clean auto cast 9 Apr 465 -20
Clean fresh cast iron borings 9 Apr 250 -30
Ductile-quality shredded clips 9 Apr 645 nc
Low-alloy punchings 9 Apr 670 nc
#1 machine cast 9 Apr 445 -20
P&S, 2ft 9 Apr 510 -20
Cleveland
Clean auto cast 9 Apr 470 -20
Philadelphia
Black/foundry busheling 9 Apr 600 nc
P&S, 2ft 9 Apr 490 -20
Key marketsTiming Price ±
HRC ex-works US Midwest $/st 6 Apr 1330 +16
Plate del US $/st 6 Apr 1200 +7
Basic pig iron cfr New Orleans $/t 8 Apr 562 +5
HMS 1/2 80:20 cfr Turkey $/t 9 Apr 430 -3
Subscriber notice: Access all Argus Metal Prices assessments and content, including US contain-erized scrap export prices, freight rates and global import/export prices, at metals.argusmedia.com, or contact [email protected] for more info.
Southern US ferrous scrap weighted averages $/gtTiming Price ±
#1 busheling 8 Apr 561 nc
Shredded 8 Apr 418 -20
Licensed to: Sameer Virani, Argus Media Limited (London)
Issue Ref: 430006
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Issue 21-3 | Monday 12 April 2021Argus US Ferrous Scrap
PublisherAdrian Binks
CEO AmericasEuan Craik
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illuminating the marketsMetals
Ferrous scrap prices $/tTiming Low High ±
US east coast bulk (fob New York daily)
HMS 1/2 (80:20) bulk export 9 Apr 404 405 -3.40
Shredded bulk export 9 Apr 409 410 -8.40
p&S 5ft bulk export 9 Apr 414 415 -3.40
US Gulf Coast bulk (fob Houston daily)
HMS 1/2 (80:20) bulk export 9 Apr 402 402 -3.40
Shredded bulk export 9 Apr 412 412 -3.40
p&S 5ft bulk export 9 Apr 412 412 -3.40
US west coast bulk (fob Los Angeles weekly)
HMS 1/2 (80:20) bulk export 9 Apr 415 425 +22.50
Shredded bulk export 9 Apr 420 430 +22.50
p&S 5ft bulk export 9 Apr 425 435 +22.50
US #1 BUSHELING PRICES
US ferrous scrap export yard buying prices del (weekly) $/gtTiming #1 HMS P&S, 5ft Shredder feed
Low High ± Low High ± Low High ±
Albany 6 Apr 355 360 +10.00 365 370 +10.00 250 260 +10.00Boston 6 Apr 320 330 nc 330 340 nc 235 245 +15.00New York 6 Apr 330 340 +5.00 340 350 +5.00 250 260 ncphiladelphia 6 Apr 335 350 +7.50 345 360 +7.50 250 260 ncHouston 6 Apr 330 340 nc 340 350 nc 250 260 ncLos Angeles 6 Apr 265 275 nc 275 285 nc 150 160 ncSan Francisco 6 Apr 345 355 nc 355 365 nc 235 245 +20.00Seattle/portland 6 Apr 350 360 -10.00 360 370 -10.00 250 255 -5.00
NE Arkansas$575/gt del
Birmingham$560/gt del
Buffalo$550/gt fob
Carolinas$545/gt del
Chicago$560/gt del
Cincy/Indy$560/gt del
Cleveland$590/gt del
Dallas$565/gt del
Denver$555/gt fob
Detroit$565/gt del
Houston$525/gt del
pittsburgh$560/gt del
St. Louis$585/gt fob
Quad Cities$560/gt del
Licensed to: Sameer Virani, Argus Media Limited (London)
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