In Mar’24, the RMDAS ferrous scrap index, indicating spot market prices for steel mills and foundries in the US, experienced a continued decline. The index recorded the following price decreases:
- Shredded scrap prices plummeted by $49/t to $409/t.
- Prompt industrial composite scrap saw a drop of $60/t, settling at $425/t.
- The HMS index decreased by $42/t, reaching $343/t.