Scrap
Overview
Argus provides comprehensive and detailed coverage of the global ferrous and non-ferrous scrap markets, with over 1,000 prices assessed by a global network of highly skilled market experts.
Argus’ strength lies in our ability to create appropriate methodologies for the trading dynamics of a specific spot market and to provide mechanisms for valuing scrap alloys.
Participants in the scrap industry rely on our extensive price data to act as an independent contract settlement mechanism, and use our powerful tools, like the Argus Alloy Calculator, to estimate the intrinsic value of highly engineered alloys.
Ferrous coverage
Argus offers a comprehensive regional view of the most active spot markets for ferrous scrap in regions around the world. Each price is available for direct comparison in multiple markets, with currency and unit of measurement conversions available to standardise charts and facilitate detection of favourable trade conditions.
Distinguished by either fob dealer or delivered to consumer inco terms, all prices are aligned with common industry specifications for that region. Explore the full list of scrap prices and specifications, including the length of history available on the Argus Metals platform for the grades assessed.
- Bundles
- Busheling
- Foundry/specialty
- Heavy melt
- Machine shop turnings
- Plate and structural
- Shredded scrap
- Tool steel
- Stainless and super alloys
- Alloy Calculator, where the current value of any alloy can be calculated by an intrinsic value formula in the absence of sufficient liquidity to produce a proper assessment
Non-ferrous coverage
Argus provides the full range of non-ferrous coverage from scrap price assessments on UBC, zorba, taint, tweak, and twitch products, as well as exchange data (30-minute delay LME and Comex prices are standard with Argus products) and global base metal premiums. Explore the full list of scrap prices in each non-ferrous category and visit the exchange data page to understand the unique value that Argus brings through its analysis of global exchange prices.
- Aluminium prices
- Aluminium alloy prices
- Brass/bronze prices
- Copper prices
- Lead prices
- Nickel prices
- Stainless and alloys
- Zinc prices
- Alloy Calculator, including over 200 predefined common alloys
- Exchange data
Highlights of North American coverage
Argus’ coverage of the North American scrap market focuses on spot market trading patterns within the most active regional domestic trading locations, as well as on export transactions. The full value chain is represented in the suite of Argus scrap assessments, from collected at yard to delivered to consumer prices:
- 8 containerised scrap price locations
- 14 consumer buying scrap price locations, including US and Canada
- 8 export yard scrap buying price locations
- 4 dealer selling scrap price locations
- 139 regional US and Canada non-ferrous scrap yard collection prices
- Prime and obsolete grades of scrap price assessments
- Mill and foundry grades of scrap price assessments: Titanium, stainless and scrap alloy pricing
- Southern US busheling and shredded weighted average assessments
Highlights of European coverage
Argus Scrap Markets provides context and intelligence to European domestic scrap markets to help steel mills, scrap suppliers, buyers and industrial manufacturers gain a greater understanding of the markets in which they operate. Argus produces over 50 European scrap prices assessments, including:
- German domestic ferrous scrap prices
- Spanish domestic ferrous scrap prices
- Spanish imported scrap prices
- UK domestic ferrous scrap prices
- Russia, including St Petersburg, dockside price
Highlights of Asian coverage
Argus carries Asian scrap prices from a variety of mature scrap-generating markets, and provides insightful analysis of deep-sea trades and short-sea trades. Argus covers the full scope of steel mill purchasing activity for electric arc furnace-based production, including stainless and engineered steels, in recognition of the global nature of many steel feedstocks purchased by mills across the world:
- Taiwan imported ferrous scrap prices
- India imported ferrous scrap prices
- Pakistan imported ferrous scrap prices
- Bangladesh imported ferrous scrap prices
- China, South Korea, Taiwan, Japan imported aluminium scrap prices
- China, South Korea, Taiwan, Japan imported copper scrap prices
Argus carries a variety of global scrap prices in each of its three core products — Argus Scrap Markets, Argus Ferrous Markets and Argus Non-Ferrous Markets. To discover the combination of products that will provide the most complete coverage to serve your company’s needs, contact us for a consultation. Information about Argus subscription options can be found here.
Latest scrap news
Browse the latest market moving news on the scrap industry.
Viewpoint: US stainless recovery expected in 1H
Viewpoint: US stainless recovery expected in 1H
Houston, 27 December (Argus) — US finished and scrap stainless steel market participants are cautiously optimistic for 2025 because of low inventories, waning imports and expected policy changes when president-elect Donald Trump takes office in January. The stainless steel market expects a challenging early start to 2025 before a rebound later in the first half of the year, as renewed demand from the oil and natural gas sector combines with low inventories and potential Trump policies. US stainless meltshop production in the first half of 2024 totaled just over 1mn metric tonnes (t), up from the atypically low 2023 levels of roughly 940,000t, according to data from World Stainless. These figures are well below prior years with the US averaging about 1.18mn t in the first half of 2021 and 2022. The market has struggled to hit its full stride in 2024 as consistent finished imports and falling nickel prices undercut the market. Flat rolled coil ex works US prices for 304 declined to $1.60-1.77/lb for December shipments, compared with $1.68-1.86/lb a year earlier. Still, this trend could soon stabilize and begin to reverse. Sources estimate US service center finished stainless steel inventory levels for both flat rolled and long bar products are at lows last seen in 2021, a time when US demand was still crimped from the Covid-19 pandemic. Service centers have kept unusually low inventories because of a mix of moderate demand and higher-than-usual interest rates raising end-of-year accounting costs. Weaker service center demand has subsequently capped scrap generation, limiting how low US mills can push their raw material costs for new scrap. Average US stainless steel scrap 304 solids prices have held within a tight 2¢/lb spread of 56.5-58.5¢/lb since early August as falling generation rates ran up against lower demand. The incoming Republican administration has fostered an atmosphere of optimism among market sources, who expect Trump policies will support the domestic industry by cutting oil and gas permitting restrictions, shifting US spending away from overseas investments and broader deregulation of American businesses. Trump has also proposed a myriad of tariffs, including specifically targeting China and the US' largest trading partners — Canada and Mexico. US imports of flat rolled stainless of any size climbed by 22pc to 404,000t in 2024 so far, according to US customs data. Mexico contributed roughly 7pc of these volumes, while Indonesia — home to multiple Chinese stainless mills — contributed 8pc of US imports. By raising import costs, US producers could in theory make up some of this difference. Stainless producers will likely have to raise prices as a result of tariffs, following a year with far fewer base prices adjustments. Long producer Universal Stainless raised base prices only once in 2024 compared to five times in 2023. Nickel-scrap disconnect widens US mills have offset the persistent weak demand by tweaking the nickel payable — the percentage of the price of nickel they are willing to pay for nickel recovered from scrap — each month since April. The nickel payable rate reached a historic low of 42-43pc in 2023, before rebounding. Although up from historic lows, nickel payable has decreased from 57-59pc in March of this year to 50-54pc for procurements in November. At these lower levels scrap is more disconnected from the movements in the nickel market. Some market participants still remain concerned, chiefly over slowing growth in China, which consumes nearly 50pc of the world's nickel. China has ramped up production of nickel largely in Indonesia in recent years to service the growing electric vehicle market. Market conditions in Europe also continue to undercut demand. Spanish stainless producer and owner of US-based North American Stainless, Acerinox, highlighted in its third quarter results that the European manufacturing sector is undergoing a "drastic contraction". It added that while destocking efforts were completed at the time, demand remained weak. By Pete J Stavretis Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Viewpoint: Real, tariffs to hit Brazil steel imports
Viewpoint: Real, tariffs to hit Brazil steel imports
Sao Paulo, 26 December (Argus) — Steel importers in Brazil are likely to face a tougher market in 2025 as government measures and the Brazilian real's depreciation to the US dollar make products from abroad less attractive. Brazilian steel importers are concerned that tariff-quota and antidumping policy changes made this year by the federal and state governments could raise costs for importing cargoes in 2025, likely exacerbating the impacts of a sharply depreciated Brazilian real relative to the dollar. The concerns come as US president-elect Donald Trump is already raising global trade tensions, with specific focus on Mexico, Canada and China, that could unleash waves of dueling trade measures. After seeing strong import growth in the post-Covid-19 recovery, Brazil steel importers are fretting they may lose momentum. Brazil's steel imports year-to-date November rose by nearly 24.4pc to 5.6mn metric tonnes (t) from the same period a year earlier. They are expected to end the full year 2024 up by 24pc, according to steel association Aco Brasil, after climbing by 50pc in 2023. Apparent consumption rose by 9.6pc to 24mn t in the 11 months through November, while production increased by just 5.6pc to 31.17mn t from a year earlier. Even with a 28pc depreciationof the real to the dollar in the 12 months through 24 December, prices for dollar-denominated steel imports still have a cost advantage over domestically produced steel. But that advantage is narrowing as the real weakens, with the price difference from imports over the domestic market narrowing to just $112/t in the latest assessment for hot-rolled coils (HRC) from $172/t in mid-October . "The dollar's [appreciation to the real] is messing up imports," one market participant told Argus , saying a wider price advantage for importers was necessary to offset issues like the exchange rate risk and the shipping time. Market participants also cited rising borrowing costs in Brazil as an additional challenge for imports, as many buyers rely on financing to purchase material from abroad. Brazil's central bank on 11 December unexpectedly hiked its target interest rate by a full percentage point to 12.25pc , citing the country's uncertain fiscal situation, accelerating inflation and challenging external conditions. Importers recently expressed concerns over Santa Catarina state's decision to no longer grant tax incentives for imports of six different steel and iron products for commercialization or resale in 2025. Although the timeline for implementing the measure was postponed to July and could face changes, importers remain concerned and are monitoring any possible reviews of the decision, sources told Argus . Santa Catarina's main port, Sao Francisco do Sul, accounted for over one-third of every steel product that is imported to Brazil from January to September, according to data from the country's distributors association, INDA, published in September. On the federal front, the government is likely to announce new and renewed antidumping measures for products coming mainly from China, Brazil's largest steel supplier. Another obstacle for importers would be a possible review of the tariff system for steel imports, which was implemented in June 2024 and led to additional tariffs of up to 25pc. The measure proved mostly ineffective at curbing imports into Brazil, and the industry group Aco Brasil said it would ask for adjustments . Despite the challenges, there is still room for importers to bring material to Brazil , as the country lacks steel to supply its domestic demand, another market participant said. "Brazil will always need imports because it still lacks some key home-made products to feed its market," the participant said. By Carolina Pulice Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Japan’s crude steel output to recover in FY2025: IEEJ
Japan’s crude steel output to recover in FY2025: IEEJ
Tokyo, 26 December (Argus) — Japan's crude steel output is expected to recover during April 2025-March 2026, given higher output in wider domestic industries, according to government affiliated think-tank the Institution of Energy Economy Japan (IEEJ). The country's crude steel output will increase by 4.1pc on the year to 86.5mn t in 2024-25, according to the IEEJ's projection on 24 December. This will mark the first year-on-year growth in four years. A recovery is mostly attributed to an uptrend in wider domestic industrial sectors including automobile, electric and industrial machinery, IEEJ said. It sees domestic car output increasing by 1.8pc to 8.9mn units from a year earlier. IEEJ did not provide further details, but it suggested that expanding investment for digital and green transformation will underpin the steel demand throughout the period. The think-tank also predicts that the country's steel product exports will increase by 1.2pc on the year following an upward trend in the global manufacturing sectors. Japan delivered around 32mn t of steel products overseas during 2023-24, according to the industry group the Japan Iron and Steel Federation (JISF). The country's crude steel output has been sluggish throughout 2024, partly owing to weak demand from the construction and automobile sectors. Rising material costs and labour shortages have led to fewer construction projects in the country, weighing on steel demand. Operational suspensions at major auto manufacturers including Toyota and Daihatsu, following alleged false reporting on safety test results, also pressured steel demand. This partially led to the tenth consecutive month of year-on-year decline in booked orders of ordinary steel for car use in October, according to JISF. By Yusuke Maekawa Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Viewpoint: US tariffs, new EAFs may alter scrap flows
Viewpoint: US tariffs, new EAFs may alter scrap flows
Pittsburgh, 24 December (Argus) — A wave of new electric arc furnace steel mills coming on line next year could transform scrap flows in North America, while looming US import tariffs could stunt cross-border trade. Six steel mills in the US and Canada, accounting for about 9.9mn short tons (st)/yr of electric arc furnace (EAF) production, are ramping up from late this year or scheduled to start up in 2025. The new EAFs, mostly along the Mississippi River and in Ontario, could be magnets for scrap and reshape flows across the southeast, Midwest and Canada, as scrap-fed EAF steelmakers continue to expand their role in North America, which was historically dominated by coal and iron ore-fed blast furnaces. Although some scrap dealers are optimistic about markets in the new year, market participants are carefully monitoring the effect president-elect Donald Trump's hawkish trade policies could have on scrap trading. Trump has pledged to impose 25pc tariffs on US imports from Canada and Mexico that could further shift North American scrap flows. Canada is the largest shipper of ferrous scrap into the US at an average of 3mn metric tonnes (t)/yr since 2021. Prime scrap imports between January and October this year averaged 47,000t/month, while shred imports averaged 70,000t/month, US customs data shows. The import tax would drive up the cost of Canadian scrap for US buyers and potentially reduce supply available to steel mills in the Midwest. Scrap traders noted that Trump can be unpredictable and may be using the threat of tariffs as leverage. "I'm pretty tepid on the first quarter," one Midwest dealer said. "People are trying to figure out how serious Trump is on tariffs." New EAFs to drive scrap demand The new scrap-fed EAFs in North America include Algoma Steel in Ontario, Hybar in Arkansas, and Nippon Steel's and ArcelorMittal's joint venture in Alabama. US Steel's Big River Steel began melting scrap at its second Arkansas EAF in October. EAF steelmaker Hybar plans to open its 630,000 st/yr reinforcing bar mill in northeast Arkansas in the summer of 2025. Hybar, along with Big River Steel and three Nucor mills already in the region, could further bolster the lower Mississippi River basin as a major scrap market. "I'm looking forward to next year because of the increased competition," a Midwestern scrap dealer said. "It's always good to have options." The new consumption could position northeast Arkansas and Tennessee as perhaps the top scrap consuming region, making it an industry barometer in 2025. Chicago has historically held that position and has been the benchmark region in contracts. Shifting flows in Canada Algoma Steel plans to begin ramping up two new EAFs in Sault Ste Marie, Ontario, in March next year to continue making hot-rolled coil and steel plate. The EAFs could eventually bring that facility's maximum steel production levels to 3.7mn st/yr once they fully replace Algoma's blast furnaces. The steelmaker will likely focus on low-copper shred and prime scrap grades to keep up the iron content in its melt mix as it transitions to EAF steelmaking, one Canadian scrap consumer said. Algoma may also continue to rely on raw inputs like direct reduced iron and hot briquetted iron as it ramps up its scrap buying to feed the EAFs. Market participants in Canada expect the mill to buy scrap from the prairies west of Sault Ste Marie, as well as from the greater Toronto area to the mill's east, though Algoma will face competition to pull scrap from the latter region. Scrap dealers in the upper Midwest are also keen to supply Algoma Steel because buyers in that region are scarce. A Midwest dealer noted that Algoma may ship in scrap from US ports on the Great Lakes. Algoma did not respond to requests for comment on its raw material plans. In 2021, the company set up a joint venture with Triple M Metal, a Canadian scrap dealer with 45 yards, that will likely supply scrap for Algoma Steel in Sault Ste Marie. By James Marshall and Brad MacAulay US steel mill capacity additions Million short tons/yr Company Location Product type Capacity added Start date US Steel/Big River Steel Osceola, AR Sheet 3.00 RAMPING ArcelorMittal/Nippon Steel Calvert, AL Sheet 1.65 2H 2024 Algoma Steel Sault Ste. Marie, ON Sheet 3.70 1Q 2025 Nucor Lexington, NC Bar 0.43 1Q 2025 Hybar Osceola, AR Bar 0.63 2Q 2025 CMC Berkeley, WV Bar 0.50 4Q 2025 Total 9.91 Argus reporting & public statements Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
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