Recycled Metals Update on LinkedIn: Global recycled market shifts: what does this mean for the recycled metals… (2024)

Novelis Inc., the world's largest aluminum recycler, has postponed its $945 million U.S. IPO due to unfavorable market conditions. Despite strong interest, the company is reassessing the timing for its offering to achieve the desired premium outcome.#recycledmetal #scrap

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The Federal Reserve is unlikely to cut interest rates at its upcoming meeting next week, but observers will keep an eye on any signs that may indicate rate changes later in the year. While all of these indicators sort themselves out, RMU will be watching what the Fed does next week and other signs of where the economy is going. Stay tuned and in the meantime, read more on this:https://lnkd.in/e4gBsf_PStephanie Ritenbaugh Institute for Supply Management#recycledmetals #recycledmaterial #scrap #consumerspending #federalreserve #inflation #interestrates #manufacturing #market

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The mills are buying now...Heading into June, the sentiment was for weaker prices. Now we know what we are dealing with. https://lnkd.in/efkPAGgyStephen Miller#recycledmetal #recycledmaterial #scrap #steel #ferrous

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June #recycledmetals prices teeter amidst demand fluctuations and strategic moves. Gabriella Vagnini weighs in on the showdown with some potential outcomes:Factors Supporting a $20/gt or More Decline:• Reduced demand due to mill outages in various regions• Adequate scrap flows and generation during this time of year• Softening steel mill order booksFactors Supporting a Less Than $20/gt Decline:• Steady ferrous scrap export prices within a $5/gt range over the last 60 days• Stable pig iron prices at $485/mt CFR U.S. ports• Potential decrease in scrap flows during summer months, accelerated by lower prices🔗 https://lnkd.in/eRTjh7YB#recycledmaterial #scrap #export #ferrous #finalthoughts #import #scrapmetal

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Edward Meir's commentary provides valuable insights into the state of the market and the potential implications of ongoing economic and regulatory changes. Edward highlights key discussions from the recent Bureau of International Recycling (BIR) conference in Copenhagen and the prevailing market conditions.🔗 https://lnkd.in/gCuaS-nCBureau of International Recycling Marex #recycledmetal #recycledmaterial #scrap #scrapmetal #supply #recycled

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U.S. manufacturing activity contracted in May for the second month in a row, according to the latest report from the Institute for Supply Management (ISM)...The report includes comments from survey respondents. Read the full details from David Schollaert's article here: https://lnkd.in/gvs8BXgNSteel Market Update #recycledmetal #recycledmaterial #scrap #ferrous #steel Institute for Supply Management

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CRU weighs in: LME aluminum challenges a new support level, Hydro publishes environmental info•The LME 3-month price is moving lower again on the morning of June 4 and was last seen trading at $2,658/t. Yesterday, the price attempted to regain $2,700/t but kept finding lower levels of resistance. • Alupro gives update on the state of aluminum recycling in the UK• Hydro publishes environmental data for operations in the US and Canada🔗 https://lnkd.in/gun22DqyAluminium Packaging Recycling Organisation Ltd (Alupro) #aluminum #recycledmetal #recycledmaterial #scrap #nonferrous #lme London Metal Exchange

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Ferrous market on edge: June prices poised for potential plunge.The case for going down $20/gt or more is reliant on these factors:• There is less demand due to several announced outages at mills in various regions.• There seems to be adequate scrap flows and generation this time of year.• Steel mill order books continue to soften.The case for a less than $20/gt decline is reliant on these factors:• Ferrous scrap export prices certainly haven’t decreased by $20/gt but have held steady within a $5/gt range over the last 60 days.• These export prices should retard erosion of scrap prices for mills near exporting districts.• The price of pig iron has not dropped over the last two months. It has solidly remained at $485/mt CFR U.S. ports.• Scrap flows should start to decrease as we hit the summer months and lower prices will hasten this.🔗 Read Stephen Miller's article here: https://lnkd.in/gwYEv5Cq#scrap #recycledmetal #recycledmaterial #steel #ferrous

🎇 Join us in Atlanta August 26-28 for the Steel Summit! 🎇 Last year, 1,400+ people from more than 500 companies attended the SMU Steel Summit from across the sheet, plate, and the broader steel community. Don’t miss your opportunity to join them this year and to meet with the entire RMU team! We will be onsite with our own booth, conducting interviews, networking, and hopefully getting to know you! What can you expect at the Steel Summit?• Networking:The Summit offers an intimate environment where people can come together to grow existing relationships as well as cultivate new ones. It’s the perfect place to showcase your products and services to an engaged audience who come to the event with a "ready-to-do-business" mindset• Insights and analysis:You will learn about topics critical to the North American Steel Market that you can apply to your overall strategy and decision making. Topics include economics and market analysis, banking, commodities, international trade and regulation, steel, and the auto, construction and energy markets.• Understandwhere steel prices and commodities are headed in 2024 and why.The RMU team will be planning some exciting events while at the Summit so stay tuned for more updates and be sure to register using the link below. hope to see you there! 🔗 Register: https://lnkd.in/eQ3U7cE#recycledmetal #recycledmaterial #steel #ferrous #scrap Steel Market Update Gabriella Vagnini Stephanie Ritenbaugh John Ball Stephen Miller Lindsay Hilton Cox

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