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� 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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-20
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Apr20
May Jun Jul Aug Sep Oct Nov Dec Jan21
Feb Mar Apr
#1 busheling Shredded
Us vessel imports of eaf feedstocks ’000t
0
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Apr20
May Jun Jul Aug Sep Oct Nov Dec Jan21
Feb Mar Apr
Pig iron DRI/HBI Ferrous scrap
Argusestimates
Us steel capacity utilization vs steel/scrap prices
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
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Southern US ferrous scrap weighted averages $/gtTiming Price ±
#1 busheling 8 Apr 561 nc
Shredded 8 Apr 418 -20
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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