“In the last 18 months, our recycling and steel teams have worked closely in developing a higher quality shredded scrap that can be used in place of prime scrap,” SDI Chair, President and CEO Mark D. (SDI) has gone on the record with its desire to melt more shredded scrap.
In the domestic mill market, a sustained surge in prompt grade prices has provided momentum to long-lasting efforts by shredding plant operators, sorting technology providers and some mill buyers to boost shred as a substitute for prime grades.Īmong mill buyers, Indiana-based Steel Dynamics Inc. In late August, metals information service Davis Index is reporting buyers from Turkish mills are again pulling back from the market, tied to concerns about “challenging” finished steel product sales. The Turkish economy, however, remains a source of wider concern. As August began, these buyers realized they had stayed out of the buying arena for far too long, so they needed to buy.” Export sales were weak in July I would even venture to say close to nonexistent, with Turkish buyers practically abstaining from any buying. East Coast export activity may be what is needed to help ferrous scrap pricing rise from its recent drop. On the demand side, buyers from India have stayed in the market throughout the spring and summer, while some other overseas buyers of shred and HMS might be returning to shop around at U.S. For what? Just to bring it to a yard and see a low scale price?”
With high truck fuel prices, it costs the collector much more to gather in his scrap and bring it to yards. Nathan Fruchter of New York-based Idoru Trading characterizes the peddler dilemma this way: “Extreme heat is offering a disincentive for some scrap collection. On the scrap generation side, lower scale prices combined with unpleasantly hot weather has tempered the enthusiasm of peddlers, leading to restricted scrap flows into some yards.
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Efforts to upgrade the quality and chemistry of shredded scrap also could be a factor. The loss of a premium for prompt scrap has not been seen since the COVID-19-restrictions era of March and April 2020.Ī drop in obsolete (shredder feedstock) scrap generation likely is playing a role, as is increased overseas demand from buyers who bid almost exclusively for shred and heavy melting steel (HMS) rather than prompt scrap. In the RMDAS South region, the value of shredded scrap, at $425 per ton, actually exceeded the $418 per ton mills paid for prompt grades. 19 show mills on average paying just $9 per ton more for the RMDAS prompt industrial composite grade compared with No. Mill scrap purchases tracked by the Raw Material Data Aggregation Service (RMDAS) of Pittsburgh-based MSA Inc. Just three months later, that cavernous gap has disappeared, with most of the premium vanishing in July and August. This May, steel mills on average were paying $185 more per ton for prime or prompt ferrous scrap compared with one ton of ferrous shred. Ohio Magnetics is a portfolio company of Dublin, Ohio-based HBD Industries Inc., which describes itself as a privately held diversified manufacturer of industrial products, including alloy components, industrial rubber products and power transmission equipment.? Information on the company’s parts and service and “remag program” also is available on the website. Ohio Magnetic product pages include several for lifting magnets, including those designed to handle scrap or finished steel several types of magnetic separation equipment, including suspended pulley and drum magnets and magnet controllers and related items. “We also added a new communication tool to quickly reach our team with product inquiries and other questions.” “Our new website was designed to help customers easily find details about our magnet systems,” says Tim Schuh, Ohio Magnetics sales manager. On the redesigned site, Ohio Magnetics says its products are categorized so current and prospective customers can “quickly find all the available options.” According to the firm, new website content includes product and application images and videos as well as updated product specification tables. Maple Heights, Ohio-based Ohio Magnetics, a maker of lifting and separating magnet equipment, says it has redesigned its website in part to accentuate the breadth of its product line.
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