US SCRAP/DRI: Demand for higher-grade scrap supports quality premium

Stronger global demand for higher-grade steel scrap was justification for higher premiums for quality materials, market participants said during Fastmarkets' virtual conference on Scrap, DRI and Mini-Mills on Tuesday April 13.

Asian countries such as Indonesia, Malaysia, Bangladesh, India and Pakistan, in addition to China, have increasing needs for higher-quality scrap, leveling the grade demand across the world, according to Sean Daoud, vice president for PNW Metal Recycling, a scrap supplier based in the north-western US state of Washington.
"Now, the grades [that are in demand] are similar across exports and [the United States] domestic markets," Daoud said during a panel on current steel market dynamics and raw material demand. "With higher-quality usage, there is less effort [needed to process scrap], so production costs are lower."

In turn, steel mills accept higher prices for such...

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