ScrapX🚀

Passionate to bring #scrap market insights

[ScrapX🚀 @scrapX3]

🚀🔝 The #steel industry's heavy hitters in 2022! 🏗️🌐

The top 10 steel-producing companies by crude steel production (million tonnes):

1️⃣ China Baowu Group - 131.84 MT 🇨🇳
2️⃣ ArcelorMittal - 68.89 MT 🇱🇺
3️⃣ Ansteel Group - 55.65 MT 🇨🇳
4️⃣ Nippon Steel Corporation - 44.37 MT 🇯🇵

[ScrapX🚀 @scrapX3]

Camden-Icdas:
$342 90:10
$359 Shred
$359 Bonus

[ScrapX🚀 @scrapX3]

Mazza US - Icdas:
$338 85:15
$355 Shredded

[ScrapX🚀 @scrapX3]

Camden USA-IDC:
$348,50 90:10
$365,50 Shred
$365,50 Bonus

[Crypto Aman @cryptoamanclub]

JUST IN✅👇

Federal Reserve cuts interest rates by 50bps for the first time in 4 years.

#FOMC #Powell #USFed

[ALİ GÜLEÇ @GULECALI]

TSR NETHERLAND to TURKEY
80:20 364 $

[Turkey Scrap Guy @TurkeyScrapGuy]

EU working to get docks down. Helped by weakness of Germany. Might move to $365 US-Turkey (down $5/t) based on latest talks. Not enough offers for a $10/t fall. Small fall most likely. Doubt FED’s 25/50 bps cut will change things short-term, unless China reacts with some force

[ALİ GÜLEÇ @GULECALI]

Sims uk - IDC Turkey
80/20 355$
22k total

[Turkey Scrap Guy @TurkeyScrapGuy]

Weaker EUR altered regional #scrap exporter targets but still close to $420/t cfr #Turkey. If achieving sales around this level would mean EU exporters achieve equiv levels above the $421-422/t US deal levels of mid-week. EU flow + margin still dictate. UK supply not a concern

[ScrapX🚀 @scrapX3]

The Indian Finance Minister Nirmala Sitharaman, today presented the interim Union Budget for fiscal year 2024-25 (FY'24-25). No major change in the duty structure against last fiscal.

Highlights :https://t.co/nZad9i7NWs

PDF: https://t.co/Gjc3nBBxXz

Source: BigMint

#Budget2024

[ScrapX🚀 @scrapX3]

Indian scrap consumption is going to surpass last year's number. It is surprising bz India has altleast 100 years of Iron ore, if we calculate as per current rate of consumption. Is it happening bz of upcoming CBAM? What do you think?

#steelscrap #CBAM #CarbonZero #CarbonTax

[BigMint @BigMint_Co]

India's ferrous scrap consumption rises 12% y-o-y in Jan-Oct'23

India's #ferrousscrap consumption stood at 24.24 million tonnes (mnt) in January-October 2023 (10MCY'23), an increase of 12% against 21.59 mnt in the corresponding period of last year, as per the latest SteelMint data.

While domestic scrap consumption was assessed at 15.32 mnt, around 8.27 mnt of ferrous scrap was imported during the period.

Read more: https://t.co/1Nb9d3hHNm

#steel #scrap

[ScrapX🚀 @scrapX3]

Latest Turkey scrap deal indicates stability in the market. South Asian buyers are not active currently.

Sims US-Habas:
80:20 $379.50
Shred $399,50
Bonus $399,50

#scrap #steelscrap

[ScrapX🚀 @scrapX3]

Hansen-Kroman:

$351 80:20
$371 Bonus

Turkey #scrap deals

#BIR #recycledsteel

[ScrapX🚀 @scrapX3]

Heard

EMR UK-Yesilyurt:

$352 80:20
$372 Bonus

Turkey #scrap deals

#RecycledSteel #BIR

[BigMint @BigMint_Co]

📢 Exciting News! 𝐒𝐭𝐞𝐞𝐥𝐌𝐢𝐧𝐭 𝐢𝐬 𝐭𝐡𝐫𝐢𝐥𝐥𝐞𝐝 𝐭𝐨 𝐚𝐧𝐧𝐨𝐮𝐧𝐜𝐞 𝐭𝐡𝐞 𝐥𝐚𝐮𝐧𝐜𝐡 𝐨𝐟 𝐨𝐮𝐫 𝐇𝐌𝐒 80:20 𝐬𝐜𝐫𝐚𝐩 𝐚𝐬𝐬𝐞𝐬𝐬𝐦𝐞𝐧𝐭 𝐃𝐀𝐏 𝐀𝐛𝐮 𝐃𝐡𝐚𝐛𝐢, 𝐔𝐀𝐄.

Our steel scrap assessment in the UAE focuses on the grade of sheared, processed HMS 80:20, most traded within domestic market.

The introduction of SteelMint's scrap assessment in the UAE is a response to the growing demand from buyers and sellers of secondary raw materials in the Gulf Cooperation Council (GCC) nations. It serves as a vital standard reference for scrap prices in the region. As the UAE commits to reducing carbon emissions in steel production, the use of scrap is set to soar.

UAE mills primarily rely on the electric route steel making, using Arc Furnace (EAF) and Induction Furnace (IF), with sponge iron, pellets, and steel scrap as primary raw materials. Apart from processed/sheared HMS scrap, there's a significant trade in shredded automobile scrap and P&S scrap within the domestic market.

On October 11, 2023, SteelMint introduced the domestic ferrous scrap assessment in the UAE. This initiative aims to provide local mills and scrap trade participants with a dependable pricing benchmark, ensuring transparency and reliability.

𝐀𝐬𝐬𝐞𝐬𝐬𝐦𝐞𝐧𝐭: Melting Scrap, DAP-Abu Dhabi, UAE

𝐆𝐫𝐚𝐝𝐞: HMS 80:20 | 𝐋𝐨𝐜𝐚𝐭𝐢𝐨𝐧: Abu Dhabi | 𝐏𝐚𝐲𝐦𝐞𝐧𝐭 𝐓𝐞𝐫𝐦: Cash

𝐌𝐢𝐧 𝐐𝐮𝐚𝐧𝐭𝐢𝐭𝐲: 50MT | 𝐃𝐞𝐥𝐢𝐯𝐞𝐫𝐲 𝐓𝐞𝐫𝐦𝐬: DAP

The assessment is conducted bi-weekly and released every Monday and Wednesday at 17:00 IST.

For any feedback or queries, please don't hesitate to contact us at [email protected].

#Steel #Ferrous #scrap #HMS #CarbonEmission #UAE #Prices #SteelMint

[Turkey Scrap Guy @TurkeyScrapGuy]

A continental European #scrap
seller heard sold hms 1/2 to #Turkey @ $345/t cfr Izmir for 2nd half Nov shipment. Another $3.5/t fall

[IMF @IMFNews]

IMF Growth Forecast: 2024

USA🇺🇸: 1.5%
Germany🇩🇪: 0.9%
France🇫🇷: 1.3%
Italy🇮🇹: 0.7%
Spain🇪🇸: 1.7%
Japan🇯🇵: 1.0%
Canada🇨🇦: 1.6%
China🇨🇳: 4.2%
India🇮🇳: 6.3%
Russia🇷🇺: 1.1%
Brazil🇧🇷: 1.5%
Mexico🇲🇽: 2.1%
Morocco🇲🇦: 3.6%
KSA🇸🇦: 4.0%
Nigeria🇳🇬: 3.1%
RSA🇿🇦: 1.8%
https://t.co/pzLIvHg5Ln

[ScrapX🚀 @scrapX3]

Turkey's new Rebar level pose concerns over future of #scrap deals and prices. Looks like South Asia is the last hope.

Stay alert 🔊

[ScrapX🚀 @scrapX3]

Two deals in Turkey indicated further fall in prices. Scrap market seems weak :

Sims USA-Icdas:
$371 80:20
$391 Shred
$391 Bonus

Schnitzer USA-Icdas:
$370 80:20
$390 Shred
$390 Bonus

#Scrap #turkey #steel

[RushLane @rushlane]

Car sales Sep 2023

[ScrapX🚀 @scrapX3]

Year-to-date:

🇨🇳 China: 712.9 Mt, +2.6%
🇮🇳 India: 92.2 Mt, +10.5%
🇯🇵 Japan: 58.4 Mt, -3.8%
🇺🇸 USA: 53.8 Mt, -1.9%
🇷🇺 Russia: 50.8 Mt, +3.9%

#Steel #ProductionStats

Data by : @worldsteel

[ScrapX🚀 @scrapX3]

Steel production in August 2023 🏭🌍:

🇨🇳 China: 86.4 Mt, +3.2%
🇮🇳 India: 11.9 Mt, +17.4%
🇯🇵 Japan: 7.1 Mt, -2.9%
🇺🇸 USA: 7.0 Mt, +1.1%
🇷🇺 Russia: 6.4 Mt, +8.9%

Exciting shifts in steel production! 📈🏗️

#SteelIndustry #ProductionStats"