The trend indicator for January 2025 edged up to 57.6, indicating a bullish sentiment for scrap prices. This is equivalent to an expected scrap price change of +1.5% month-over-month.
The consensus remains on this expectation is average at 58%, signalling a wide consensus.
By market sides, the trend indicator reveals moderate alignment, with buyers at 58.8, brokers at 56.3 and sellers at 57.8. These figures suggest a restrained optimism across participants as the market moves into the new year. Inventories remain near average at 52.2, reflecting no significant stockpiling or depletion.
“All unchanged” was the most cited market driver this month, highlighting a lack of a dominant influencing factor. This steadiness may be attributed to a seasonal lull and the industry’s hesitation ahead of the new administration’s policies.
Although the market seems poised for marginal growth, challenges such as political uncertainty and logistical constraints in the winter months could weigh on progress. For now, stakeholders appear to be navigating cautiously to positivity as the industry transitions into 2025.
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