WEDNESDAY, NOVEMBER 9, 2016 / VOLUME 124 / NUMBER 45-3 / ESTABLISHED 1882

Automotive to remain key

end market for Novelis: Fisher
NEW YORK Although
automotive sales are expected
to plateau through the next year,
Novelis Inc. continues to see that
segment driving the companys
growth into the next decade, a top
company executive told AMM.
We continue to see strength
in the marketplace, Novelis
president and chief executive
officer Steve Fisher said in an
interview with AMM Nov. 7. All the
discussions we are having with the
marketplace affirm that.
However, even with Fishers
optimistic outlook, there is no
denying that the current cycle is
mature. Were not nave to the

Revved for growth. "We continue

to see strength in the (automotive)
marketplace," Novelis' Steve Fisher
said. "All the discussions we are having
with the marketplace affirm that."

cyclical nature of auto, Fisher said.

Automotive sales have been
sluggish (amm.com, Nov. 2), with
signs indicating that sales in
coming years may not match those
of previous years.
Ford Motor Co. plans to make
further cuts to its North American
production in the fourth quarter,
as retail demand has weakened
while the vehicle pricing
environment has gotten tougher,
the company said last month
(amm.com, Oct. 27).
Still, Novelis remains optimistic
due to automotives expected
higher aluminum content in the
near future, with an
PAGE 2

US buyers strike nearing its end: Mittal

CHICAGO ArcelorMittal SA
executives think a buyers strike
by U.S. steel consumers will prove
short-lived.
U.S. steel buyers were hesitant
to place orders during the third
quarter because steel prices
were falling, Aditya Mittal,
chief financial officer of the
Luxembourg-based steelmaker,
said in a Nov. 8 conference call
with analysts.

But that dynamic could

change amid price increases from
ArcelorMittal and other steelmakers
(see related story, page 3) in an
environment of lean inventories and
firm demand, he said.
If you look at the underlying
characteristics of the U.S.
marketplaces, real demand is
good and apparent steel demand
is goodand the forecasts are ...
positive into 2017, Mittal said.

The buyers strike is thus

temporary in nature, he said.
Its not a signal or a sign of
anything more significant such as
a loss of market share.
Anthony B. Rizzuto Jr., analyst
at New York-based Cowen & Co.,
appeared to agree.
Shares may be under pressure
today, but we think the second
round of U.S. sheet steel price
hikes, kicked off by
PAGE 2

Three mills follow

Metals Inc. sold to
ArcelorMittals sheet hike Triple-S affiliate

Summer blues hit Sept.

ferrous scrap exports

At least three U.S. steelmakers

are increasing sheet prices by a
minimum of $30 per ton ($1.50
per hundredweight) effective
immediately, the companies said
Nov. 8.

A late case of summer doldrums

crimped U.S. ferrous scrap exports
in September as buyers in major
destinations noticeably scaled back
trading activity amid lower finished
steel demand.

PAGE 3

Advanced Alloy Processing Corp.

has sold its subsidiary Metals Inc.
to an affiliate of Triple-S Steel
Supply Co. for an undisclosed sum,
marking the companys departure
from the steel distribution
business.

PAGE 7

METAL IS OUR SPECIALTY,

SERVICE IS OUR STRENGTH

IT IS A VIOLATION OF AMM COPYRIGHT TO PHOTOCOPY/DISTRIBUTE THIS PRODUCT

PAGE 12

WWW.AMM.COM

STEEL
At least eight HSS mills hike
prices by $70/T
PAGE 3
ArcelorMittal restarts Indiana
Harbor No. 3 BF
PAGE 3
ArcelorMittal nets $680 million in
3d qtr.
PAGE 4
Truck driver killed at Burns
Harbor mill
PAGE 5

SUPPLY CHAIN
Esco Technologies buys Mayday,
Hi-Tech
PAGE 7
Forge USA seeks Ch. 11
bankruptcy protection PAGE 7
Coking coal to stay high for long
time: Evraz
PAGE 7

NONFERROUS
WTO panel to review China raw
materials trade
PAGE 9
Chinese aluminum smelters facing
environmental review PAGE 9
AEC praises Commerce decision
in Zhongwang probe
PAGE 10
Terrafame nickel, zinc mine likely
to avoid closure
PAGE 10

SCRAP
Alpha Recycling wins judgment
vs. NJ supplier
PAGE 12
Aluminum scrap mart maintains
steady footing
PAGE 12

NUMBER OF THE DAY

1.09M

Tonnes of U.S. ferrous scrap

exported in September, down
15.8 percent from the previous
month amid reduced Turkish
buys.
PAGE 12

www.rsac.com

NEWS

Automotive to remain
key end market for
Novelis: Fisher

US buyers strike
nearing its end: Mittal

CONTINUED FROM PAGE 1

(ArcelorMittal on Monday), is what

investors should be focused on, he
wrote in a Nov. 8 research note.
Hot band prices sank to $470 per
ton ($23.50 per hundredweight)
in late October, down 26.6 percent
from a June peak of $640 per ton
($32 per cwt), according to AMM
pricing data. Prices have since
rebounded to $480 per ton ($24
per cwt), and ArcelorMittal aims to
drive them up another 8.3 percent
to $520 per ton ($26 per cwt) with
its most recent increase (amm.com,
Nov. 7).
But Mittal also acknowledged
that U.S. buyers reluctance to
place orders would probably cap
the companys fourth-quarter
steel shipments at or below thirdquarter levels despite good demand
globally. Clearly, if the market
rebounds strongly in the next few
weeks that may change. But at this
point in time we are expecting
(fourth-quarter) shipments in
Nafta to be lower than in (the third
quarter), he said.
ArcelorMittal shipped 20.3
million tonnes globally in the
third quarter, of which 5.36
million tons was accounted for by
North America, according to data
released with the companys thirdquarter earnings results.
The only reason why we are
suggesting that overall volumes
are flat (in the fourth quarter vs.
the third quarter) is because of a
buyers strike in the United States,
Mittal said.
ArcelorMittal is also increasing
prices globally, in part because
coking coal costs have spiked
unexpectedly, chairman, chief
executive officer and president
Lakshmi Mittal said.
Near-term, there will be a
negative impact on global steel
spreads. But I am confident that
steel prices will adjust to these
higher raw material costs, he said.
In other words, ArcelorMittal will
be able to pass on higher costs to
steel consumers, Mittal said. I have
seen this in many cycles before.
Mittal blamed higher coking
coal costs largely on production
cutbacks in China.
Company executives also noted
that higher raw material costs
often precede higher steel prices.
ArcelorMittal posted overall
net income of $680 million for the
three months ended Sept. 30 in

CONTINUED FROM PAGE 1

anticipated average of 500 pounds

of aluminum per vehicle by 2025
(amm.com, April 20). Were trying
to highlight the (growing) amount
of aluminum, Fisher said.
Meanwhile, Novelis switch of its
hot-mill capacity from can sheet over
to automotivecombined with the
consolidation of major customers
such as Anheuser-Busch InBev
SA and SABMiller Plc (amm.com,
Sept. 28) and Ball Corp. and Rexam
Plc (amm.com, July 1)has placed
pressure on can sheet prices.
All of that industry consolidation
is putting further pressure on
prices, Fisher said, adding that
even with Novelis switch into
an auto-oriented business, the
company is not leaving the can
business. Were here to stay.
Even so, Novelis is aware that
competition in the can sheet
business will only grow. Were
not nave to those headwinds,
Fisher noted. Certainly, some of
our consumers will be looking to
diversify their portfolio.
With regard to Chinese
aluminum, Novelis is active in
lobbying the U.S. government to
take a stance on Chinese suppliers
business practices; a company
representative provided testimony
at a U.S. International Trade
Commission hearing Sept. 29
(amm.com, Sept. 16).
All we can do is be vocal about
the downstream, Fisher said.
We need to make sure that all of
the aluminum industry has a fair
playing field.
Novelis reported a net loss of
$89 million for its fiscal second
quarter, on net sales of $2.36 billion
(amm.com, Nov. 7).
KIRK MALTAIS
KIRK.MALTAIS@AMM.COM

PRICING AT A GLANCE
NYMEX
Copper
Hot-rolled coil

237.90
$492.00

Gold

$1,273.40

Platinum

$1,008.60

Silver

1,833.00

LME
Aluminum

$1,706.00

Copper

$5,044.00

Lead

$2,073.00

Nickel

$11,140.00

Zinc

NOVEMBER 9, 2016

$2,443.50

IT IS A VIOLATION OF AMM COPYRIGHT TO PHOTOCOPY/DISTRIBUTE THIS PRODUCT

contrast to a $711-million net loss

in the year-ago quarter (amm.com,
Nov. 8).
Meanwhile, the companys
North American operations
recorded earnings before
interest, taxes, depreciation and
amortization (Ebitda) of $566
million for the quarter, up 66.5
percent from Ebitda of $340
million in the same period last
year, according to the companys
earnings report. Thats despite
sales slipping 2.3 percent to $4.27
billion from $4.37 billion in the
same comparison.
MICHAEL COWDEN
MCOWDEN@AMM.COM

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AMM PAGE 2

STEEL

Three mills
follow sheet
price hike
CHICAGO At least three U.S.
steelmakers are increasing sheet
prices by a minimum of $30 per
ton ($1.50 per hundredweight)
effective immediately, the
companies said Nov. 8.
Charlotte, N.C.-based Nucor
Corp.s price hike applies to new
orders of hot-rolled, cold-rolled and
galvanized products, the steelmaker
said in a letter to customers.
We reserve the right to review
and requote any offers that are
not confirmed with either a Nucor
sales acknowledgement or written
acceptance by both parties, the
company said Tuesday.
West Chester, Ohio-based AK
Steels increase affects spot market
base prices for new orders of all
carbon flat-rolled steel products,
the company said Nov. 8.
Portage, Ind.-based NLMK USA
likewise raised its hot-rolled coil
prices by $30 per ton, but bumped
up its cold-rolled, galvanized and
specialty high-carbon prices by $40
per ton ($2 per cwt)$10 per ton
($0.50 per cwt) above what other
mills had announced, according to
a Nov. 8 letter to customers.
Open quotations and
unconfirmed orders are subject to
revision, NLMK said in its letter.
The three mills increases follow
a leading move by Luxembourgbased ArcelorMittal SA (amm.com,
Nov. 7), which announced its
$30-per-ton price change on the
heels of an equal increase made last
month (amm.com, Oct. 24).
The first round of price hikes
stopped five months of price
declines (amm.com, Nov. 4).
This second round represents an
attempt by U.S. steelmakers to
raise tags by $60 per ton ($3 per
cwt) in less than three weeks.
MICHAEL COWDEN
MCOWDEN@AMM.COM

NOVEMBER 9, 2016

At least eight HSS

mills hike prices
by $70/T
NEW YORK At least eight U.S.
hollow structural section (HSS)
mills are raising prices by $70 per
ton ($3.50 per hundredweight).
The increases were announced
by American Tube Manufacturing
Inc., Birmingham, Ala.; Atlas
Tube Inc., a division of Chicagobased Zekelman Industries Inc.;
ExlTube Co., North Kansas City,
Mo.; Hanna Steel Corp., Hoover,
Ala.; Independence Tube Corp.,
Chicago; Maruichi Oregon
Steel Tube LLC, Portland, Ore.;
Maruichi Leavitt Pipe & Tube LLC,
Chicago; and Southland Tube Inc.,
Birmingham, Ala.
Atlas Tube Inc. is increasing
prices because steel market
conditions have changed
significantly in the last several
weeks, the company said in a
Nov. 8 letter to customers.
Hot-rolled coil costs have
increased multiple times to
account for increases in raw
materials and a surge in new
orders. New orders for HSS have
also seen a significant increase,
the company added.
The move applies to
unconfirmed quotes and contracts
on all HSS and piling products, but
orders on its books will be price
protected with shipments through
Dec. 9, Atlas said. The other seven
mills followed the price-protection
schedule.
ExlTubes hike is for A-500 and
A-513 products; Hanna Steel is
hiking tubular product prices;
Independence Tube, now a
subsidiary of Charlotte, N.C.-based
Nucor Corp. (amm.com, Nov. 2),
is raising HSS, A53, sprinkler pipe
and piling prices; Maruichi Oregon
is boosting HSS prices; Maruichi
Leavitt is increasing prices for
all products and size ranges;
and Southland Tube is raising
mechanical, structural and pipe
product prices, according to Nov. 8
customer letters.
An American Tube
Manufacturing spokesman
confirmed to AMM Nov. 8 that
the company is implementing a
hike similar to that of the other
producers.
Mills cited rising raw material
prices and current market
conditions as the reason for the
increases.

Atlas price increase will be

Canadian $90 per ton (about $68
per ton) north of the border, a move
also implemented by Maruichi
Oregon Steel.
The HSS price increases come
on the heels of flat-rolled steel
price hikes totaling $60 per ton ($3
per cwt) so far (see related story,
this page).
Flat-rolled steel is the substrate
used to make welded tubulars such
as HSS.
THORSTEN SCHIER
TSCHIER@AMM.COM

ArcelorMittal
restarts Indiana
Harbor No. 3 BF
CHICAGO ArcelorMittal SA has
restarted the No. 3 blast furnace
at its Indiana Harbor steelmaking
complex in East Chicago, Ind., a
top company executive said.
The furnace has resumed
production primarily so that
Indiana Harbor can provide
slabs to AM/NS Calvert LLC, the
Luxembourg-based steelmakers
joint-venture rolling mill in
Calvert, Ala., ArcelorMittal chief
financial officer Aditya Mittal
said during a Nov. 8 earnings
conference call.
And just starting a furnace
doesnt necessarily mean that
all of that production will come
onto the market, because we can
also reduce some of the levels of
production at some of the other
furnaces, he noted.
Mittal did not say when the No. 3
furnace had restarted and declined
to say how long the ramp up to
full capacity might take. Mittal
also did not specify which other
furnaces might see output reduced
as a result of No. 3 resuming
production.
An ArcelorMittal spokeswoman
did not respond to AMMs questions
about the No. 3 furnace Nov. 8.
Its safe to say that when the
market is doing more volume, all
the furnaces in our facilities will be
running a bit harder, Mittal said.
ArcelorMittal in August
confirmed that it was preparing
to restart the No. 3 blast furnace
in the fourth quarter in order to
supply slabs to AM/NS Calvert
(amm.com, Aug. 31).
The No. 3 furnace, part of
the companys Chicago-based
ArcelorMittal USA LLC subsidiary,
has an annual capacity of about

IT IS A VIOLATION OF AMM COPYRIGHT TO PHOTOCOPY/DISTRIBUTE THIS PRODUCT

1.5 million tons. It was taken down

for repairs in 2015, although the
company has said the furnace
could be restarted quickly if
circumstances merited it
(amm.com, May 9).
AM/NS Calvertwhich German
steelmaker ThyssenKrupp AG
sold to ArcelorMittal and Japans
Nippon Steel & Sumitomo Metal
Corp. in early 2014 (amm.com,
Feb. 26, 2014)does not make
steel but instead rolls slabs from
other mills.
Also at Indiana Harbor, a
footprint optimization project
remains underway, according to
data released with ArcelorMittals
third-quarter earnings.
The restructuring project
involves idling redundant
operations such as Indiana
Harbors No. 1 aluminizing line,
its 84-inch hot-strip mill, No. 5
continuous galvanizing line and
No. 2 steel shop, ArcelorMittal
said. In addition, the plan includes
investing approximately $200
million to install a new caster at
Indiana Harbors No. 3 steel shop,
restore its 80-inch hot-strip mill
and make improvements to its
finishing and logistics operations,
the company said.
Work on the new caster for the
No. 3 steel shop is expected to be
completed this quarter, and the
No. 2 Steel shop is slated to be
idled in 2017, ArcelorMittal said.
The entire restructuring project at
Indiana Harbor is scheduled to be
finished in 2018, the company said.
The Indiana Harbor
restructuring was initially
disclosed by the United
Steelworkers union (amm.com,
June 2) and later confirmed by the
company (amm.com, July 29).
MICHAEL COWDEN
MCOWDEN@AMM.COM

AMM PAGE 3

STEEL

Carpenter unveils
new electrical
steel alloy
NEW YORK Carpenter
Technology Corp. has unveiled a
new soft magnetic electrical steel
alloy to help customers improve
efficiencies in electrical motors,
transformers, generators and
electromagnetic devices, company
executives told AMM.
Across all markets, we see
customers looking to increase
the efficiencies of their motors,
generators and electronic
components, Carpenter director
of consumer markets Tapan Shah
said. This alloy-based solution
is directed toward helping
our customers improve those
efficiencies.
The alloy, CarTech Hypocore,
can provide lower core loss and
higher induction, even at a low
applied magnetic field, according
to the Philadelphia-based
stainless steel and specialty alloy
producer. It also can be used at
higher frequencies with less heat
generation, the company said.
As a result, the alloy can
provide potential benefits to
next-generation electrical
machines and electromagnetic
devices, such as laminations
or assembled cores for small
machines, where increased
efficiency and size reduction
is important, according to
Carpenter.
For example, drones that need to
carry heavier packages would be an
ideal application for the Hypocore
alloy, according to John Zarynow,
Carpenters recently appointed
magnetics product manager.
The market is always looking
for more powerful motors, he said.
The alloy will target specific
applications such as the
transportation, aerospace and
medical industries, among others,
according to Shah.
It also will help build a
bridge between Carpenters
high-performance, high-cobalt
Hiperco-family magnetic
materials and its silicon-based
alloys, according to Carpenter vice
president and chief commercial
officer Brian J. Malloy.
We are prioritizing within
specific niches where our value
proposition fits, Malloy said.
What drove this launch was
validating customers needs in
NOVEMBER 9, 2016

a way that fit our go-to market

strengths.
The alloy will be predominantly
consumed in strip form, Shah noted.
We wont run the strip
specifically at Carpenters new
facility in Athens, Ala., he said,
but did not note where else the
strip will be produced.
Carpenter has the capability
to make all kinds of products in
various forms: strip, bar, billets,
wire, powder, Malloy added.
Youre going to see additional
announcements that continue
to drive our performance in the
marketplace. Were not going to
be one and done. Weve got some
very compelling new solutions in
our pipeline.
Indeed, in line with its new
market-facing strategy, the
company announced in October
that it has developed a wire
coating for the cold-heading
fabrication of industrial fasteners
in the aerospace, automotive and
consumer end markets, providing
an option between precoat and
copper coatings.
Carpenter slid into the red
in its first fiscal quarter of 2017,
due to volatility and uncertainty
in specific subsectors of the
aerospace industry, compounded
by weakness in other end markets
such as energy and transportation
(amm.com, Oct. 31).
The company announced
in July its intent to be marketfocused vs. product-focused
(amm.com, July 28).
GRACE LAVIGNE
GRACE.LAVIGNE@AMM.COM

ArcelorMittal nets
$680 million in qtr.
LONDON ArcelorMittal SA
swung sharply into the black in the
third quarter amid a pickup in steel
prices and market conditions.
The steelmakers net income
stood at $680 million in contrast to
a $711-million net loss in the same
period last year.
Our third-quarter results
reflect the progress the company is
making to improve the underlying
performance of the business,
as well as improved market
conditions since the start of the
year, chairman and chief executive
officer Lakshmi Mittal said.
The Luxembourg-based
steelmakers operating income
increased dramatically to $1.2
billion during the quarter from

$20 million in the corresponding

period last year.
Steel shipments dropped by 3.8
percent year on year to 20.3 million
tonnes from 21.1 million tonnes,
primarily due to the sale of long
product subsidiaries in the United
States and Spain.
The steelmakers per-tonne
steel earnings rose 45.3 percent
to $93 from $64 per tonne last
year. ArcelorMittal produced
22.6 million tonnes of crude steel
during the quarter, down by 2.2
percent from 23.1 million tonnes in
the same comparison.
The companys sales dropped
by 6.8 percent year-on-year to
$14.5 billion during the quarter
from $15.6 billion in the same
three-month span last year due
to lower average steel prices, steel
shipments and market-priced
iron ore shipments. However, the
negative effects of those factors
were partially offset by higher iron
ore reference prices.
AMM sister publication Metal
Bulletins 62-percent iron ore index
averaged $58.36 per tonne c.f.r.
Qingdao in the third quarter of
2016, compared with $54.86 per
tonne c.f.r. a year earlier.
Looking ahead, while real
demand remains stable, we will
be impacted by the unexpected
significant increase in the price
of coal. While expectations are
for steel prices to align with the
increased costs, in the interim
the higher coal price will impact
steel spreads and fourth-quarter
performance, Mittal said.
Metal Bulletins China hard
coking coal index stood at $265.49
per tonne c.f.r. Jingtang Nov. 8,
highlighting the sharp, steady rise
seen in recent months as prices
have risen from $98.56 per tonne
Aug. 1.
ArcelorMittal expects fourthquarter steel shipments to be at
similar levels to those seen in the
third quarter, the company said.
The steelmakers net debt was
$12.19 billion as of Sept. 30, down
27.2 percent from $16.75 billion on
the same date in 2015.
The net debt reduction was
largely funded through cash
inflow from operations, including
a $600-million investment in
operating working capital, $200
million in premiums paid on early
repayment of debt and proceeds
from asset sales worth $200
million, ArcelorMittal said.
The companys liquidity
stood at $8.3 billion as of Sept.
30, consisting of cash and cash

IT IS A VIOLATION OF AMM COPYRIGHT TO PHOTOCOPY/DISTRIBUTE THIS PRODUCT

equivalents of $2.3 billion and a

credit facility worth $6 billion.
VIRAL SHAH
NEWSROOM@AMM.COM
A version of this article was
first published by AMM sister
publication Metal Bulletin.

Canada starts
subsidy inquiry of
Belarus rebar
NEW YORK The Canada
Border Services Agency (CBSA)
has opened a Section 20 subsidy
inquiry into reinforcing bar
exported from the Republic of
Belarus, the government agency
said Nov. 7.
Under Canadian trade law,
Section 20 inquiries involve
cases where a government has a
monopoly of its export trade or
where domestic steel prices are
substantially determined by the
government.
OJSC Byelorussian Steel
Works (BMZ) is the only known
rebar producer in Belarus and
self-identifies as wholly owned
by the government of Belarus, the
CBSA said Nov. 7.
Domestic rebar prices in Belarus
may be substantially determined
by the government, the CBSA said.
Rebar prices there did not follow
price trends in other countries
during a certain period, with prices
flattening for three months while
rebar prices rose in other countries.
Still, with the Section 20 inquiry
open, the Belarusian government
and Zhlobin-based BMZ will be
able to provide information on
alleged subsidies or state control.
If the Section 20 inquiry ends
with an affirmative finding,
potential duties on Belarusian
rebar imports could be impacted
accordingly.
An attorney representing BMZ
in the trade case did not comment
immediately.
The inquiry comes as part of a
wider Canadian rebar trade case vs.
six countries (amm.com, Aug. 19).
Among the six countries targeted,
Belarus was the fourth-largest
exporter of rebar to Canada from
June 2015 to May 2016, shipping
56,087 tonnes in that period.
In recent years, the United States
has remained the top exporter of
rebar to Canada, shipping well
above any other country (amm.com,
Aug. 17).

continued
AMM PAGE 4

STEEL
A preliminary CBSA ruling in
Canadas anti-dumping rebar case
is due Jan. 3, while final margins
will be due April 3 if a preliminary
determination is made.
NAT RUDARAKANCHANA
NAT.RUDY@AMM.COM

Truck driver killed

at Burns Harbor
CHICAGO A truck driver was
killed in a Nov. 4 accident at
ArcelorMittal SAs steelmaking
complex in Burns Harbor, Ind.
Kevin Campbell, an
independent truck driver who
was involved in an incident with
another truck driver at our Burns
Harbor facility on Friday, passed
away, a spokeswoman for the
Luxembourg-based steelmaker
said in an e-mail to AMM Nov. 7.
Campbell, 69, lived in Crown
Point, Ind., according to a local
news report.
His death did not impact
production, the spokeswoman said.
Campells death appears to
be the first at Burns Harbor this
year. An independent contractor
employed by Kone Elevators &
Escalators died at the mill in 2015
(amm.com, April 6, 2015).
Still, it has been a deadly year for
workers at northwest Indiana mills.
Jonathan Arrizola died recently
in an accident at U.S. Steel Corp.s
Gary Works; he had been working
with a four-man crew assigned
to troubleshoot a crane in the
hot-strip mill (amm.com, Oct. 3).
In June, Charles Kremke, 67, was
accidentally electrocuted, also
while working at the Pittsburghbased steelmakers Gary mill
(amm.com, Oct. 28).
MICHAEL COWDEN
MCOWDEN@AMM.COM

NOVEMBER 9, 2016

US raw steel production increases 1.7%

NEW YORK U.S. raw steel
output totaled an estimated
1,602,000 net tons last week, up
1.7 percent from 1,575,000 tons the
previous week, as mills operated
at an average capacity utilization
rate of 67.5 percent.
In the corresponding week last
year, mills produced 1,537,000 tons
at an average capacity utilization

rate of 64.2 percent, according

to the American Iron and Steel
Institute, Washington.
Mills have produced 75,127,000
tons so far this year at an average
capacity utilization rate of 71.3
percent, down 1.8 percent from
76,488,000 tons at an average
capacity utilization rate of 70.9
percent in the same period last year.

STEEL OUTPUT
Week ended
Jan. 2
Jan. 9
Jan. 16
Jan. 23
Jan. 30
Feb. 6
Feb. 13
Feb. 20
Feb. 27
March 5
March 12
March 19
March 26
April 2
April 9
April 16
April 23
April 30
May 7
May 14
May 21
May 28
June 4
June 11
June 18
June 25
July 2
July 9
July 16

Net tons in
thousands
1,440
1,594
1,652
1,670
1,657
1,685
1,703
1,699
1,692
1,673
1,722
1,668
1,675
1,650
1,656
1,693
1,684
1,711
1,748
1,727
1,756
1,775
1,760
1,779
1,750
1,757
1,737
1,712
1,746

Capacity
utilization
60.2
66.7
69.1
69.8
70.7
71.9
72.8
72.7
72.4
71.5
73.6
71.3
71.6
70.6
70.8
72.4
72.0
73.2
74.7
73.9
75.1
75.9
75.3
76.1
74.8
75.1
74.3
73.2
74.7

IT IS A VIOLATION OF AMM COPYRIGHT TO PHOTOCOPY/DISTRIBUTE THIS PRODUCT

Week ended
July 23
July 30
Aug. 6
Aug. 13
Aug. 20
Aug. 27
Sept. 3
Sept. 10
Sept. 17
Sept. 24
Oct. 1
Oct. 8
Oct. 15
Oct. 22
Oct. 29
Nov. 5
Year to date*
Year ago to date*

Net tons in
thousands
1,703
1,681
1,697
1,685
1,655
1,642
1,656
1,626
1,632
1,605
1,611
1,585
1,590
1,597
1,575
1,602
75,127
76,488

Capacity
utilization
72.8
71.9
72.6
72.1
70.8
70.2
70.8
69.5
69.8
68.6
68.9
66.8
67.0
67.3
66.4
67.5
71.3
70.9

*Reflects AISI adjustments.

STEEL PRODUCTION BY DISTRICTS

(in thousands of net tons)

Northeast
Great Lakes
Midwest
Southern
Western
Total

Nov. 5
193
612
154
570
73
1,602

Oct. 29
191
615
152
546
71
1,575

Oct. 22
187
632
150
556
72
1,597

Source: American Iron and Steel Institute.

continued
AMM PAGE 5

C O M P L I M E N T A R Y

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NOVEMBER 9, 2016

IT IS A VIOLATION OF AMM COPYRIGHT TO PHOTOCOPY/DISTRIBUTE THIS PRODUCT

continued
AMM PAGE 6

SUPPLY CHAIN

Metals Inc.
snapped up
by Triple-S
affiliate
NEW YORK Advanced Alloy
Processing Corp. has sold its
subsidiary Metals Inc. to an
affiliate of Triple-S Steel Supply Co.
for an undisclosed sum, marking
the companys departure from the
steel distribution business.
The acquisition of Tulsa, Okla.based specialty metals distributor
Metals Inc.which officially
closed Nov. 2will likely grow
Triple-Ss 2016 revenues by 3 to
4 percent, chief executive officer
Gary Stein told AMM. Metals Inc.
staff and management will remain
in place, he noted.
Metals Inc. and Triple-S share
some strategic overlap, namely
in the equipment manufacturing
sector, Stein said. Metals Inc. also
targets the energy, petrochemical
and food service segments, while
Triple-S is a general service center
with a particular emphasis on
construction markets, according
to the companies websites.
This is our first dip into white
metals, Stein said, noting that
Triple-Ss focus has mainly been
on carbon steels. Its a bit of a
diversification effort.
Metals Inc. has changed hands
many times in the last decade,
according to Stein. I told (Metals
Inc. employees): Were your last
owner, he said.
In 2013, former Metals Inc.
owner Shale-Inland Holdings LLC,
Houston, integrated Metals Inc.
with Main Steel Polishing Co. Inc.
and renamed the joint fabrication
and distribution service Main Steel
(amm.com, Aug. 14, 2013).
Main Steel was not in (the)
distribution (business) for
most of its life, and when it was
(consolidated) by Shale-Inland,
they were put in distribution,
Stein said. Now theyre going back
to their core competency, which is
toll processing.
Main Steel LLCa processor
and polisher of stainless steel,
aluminum and nickel alloysalso
announced executive changes
alongside the the divestiture.
Paul Patek has been promoted
to president and general manager,
from chief financial officer, and
Dave Yundt has been tapped as
NOVEMBER 9, 2016

senior vice president, commercial,

according to the Elk Grove Village,
Ill.-based company.
This divestiture (of Metals Inc.)
supports our companys continued
focus on providing high-quality
tolling services, Patek said in
a statement. We will continue
to build on our reputation for
service and unique capabilities
as we continue to actively pursue
significant processing relationships
with major service centers.
Main Steel did not respond to
requests for further comment.
Advanced Alloy Processing is
owned by Peak Rock Capital, an
Austin, Texas-based private equity
firm. Metals Inc. operates three
facilities in Tulsa; Mobile, Ala.; and
Houston.
GRACE LAVIGNE
GRACE.LAVIGNE@AMM.COM

Esco Technologies
buys aerospace,
defense firms
NEW YORK Esco Technologies
Inc. has acquired aerospace
supplier Mayday Manufacturing
Co. and affiliate Hi-Tech Metal
Finishing to expand its offerings in
the aerospace and defense market.
The terms of the transaction
were not disclosed, according to
Esco, a St. Louis-based producer
and supplier of engineered
products and systems for utility,
industrial, aerospace and
commercial applications.
Mayday and Hi-Tech will
become part of Escos filtration
operating segment, the company
said. The two businesses have
combined sales of about $40
million per year, and together
operate an expandable
130,000-square-foot facility at
their headquarters in Denton,
Texas, Esco added.
Expanding our content across
the global aerospace and defense
market is an integral part of our
strategy, and Im confident this
acquisition will result in additional
growth opportunities for us,
Esco chairman, chief executive
officer and president Vic Richey
said in a statement. Additionally,
these unique technologies
create a significant opportunity
for us to further expand our
aerospace-related offerings into a
broader platform of new product
development areas.
Mayday specializes in

manufacturing mission-critical
bushings, pins, sleeves and
precise-tolerance machined
components for landing gear,
rotor heads, engine mounts, flight
controls and actuation systems
for the aerospace and defense
industry; while Hi-Tech is a metal
processor, offering services to
original equipment manufacturers
and Tier 1 suppliers.
We are continually looking
to expand our product offering
and to gain more content on our
existing aerospace and defense
platforms, and by adding the
well-proven capabilities of Mayday
to our existing product portfolio,
weve created an additional
avenue for meaningful growth
across our existing customer
base, Esco filtration group
president Sam Chapetta said.
Mayday and Hi-Tech produce a
wide range of niche products with
precise tolerances and difficult
to manufacture components, all
done with outstanding results.
Salem Partners LLC, a Los
Angeles-based investment
banking and wealth management
company, acted as the sellers
exclusive advisor, Esco noted.
GRACE LAVIGNE
GRACE.LAVIGNE@AMM.COM

bankruptcy protection in the past

eight years.
Creditors include Chicago-based
A. Finkl & Sons Co., Chicago-based
ArcelorMittal Steel USA, Ontariobased ASW Steel Inc., a plate
subsidiary of Russian steelmaker
OJSC Novolipetsk Steel (NLMK)
and Nuevo Len, Mexico-based
Frisa Forjados SA de CV, among
others, case documents show.
Forge USA offers custom
forgings in many shapes and
sizes, including forged steel
rings, cylinders, blocks, and
forged round and square bars,
according to the companys
website. The company has
open-die forging operations in
Houston and a machining shop
in Brookshire, Texas, and also
heat treats products, targeting the
energy, aerospace, mining and
construction sectors.
Jerry Brougher, board chairman,
and Wade Brougher, president and
chief executive officer, acquired
the company in 2001, when it
operated as Alberta Texas Forge.
The company had outstanding
loans of nearly $8.1 million as of
Nov. 2, including a term loan and
borrowings on its revolving credit
line of $10.4 million, court filings
show.
NAT RUDARAKANCHANA
NAT.RUDY@AMM.COM

Forge USA seeks

Ch. 11 bankruptcy Coking coal to
protection
stay high for long
NEW YORK Major steel forger
time: Evraz
Brougher Inc., also known as
Forge USA, has filed for Chapter 11
bankruptcy protection.
The Houston-based company
estimated liabilities at $10 million
to $50 million and assets at
$500,001 to $1 million, according to
the Nov. 2 filing in U.S. Bankruptcy
Court in southern Texas.
A key hearing in the case has been
set for Nov. 10 in Houston, after
Forge USA requested permission to
pay $173,229 in operational expenses
in an emergency use of cash
collateral, allowing the company to
continue operations.
Neither Forge USA nor the
companys attorney immediately
responded to AMMs request for
comment.
Forge USA had an estimated 100
to 199 creditors, the filing shows.
Funds could be available
for distribution to unsecured
creditors, the filing said, indicating
that Forge USA hadnt applied for

IT IS A VIOLATION OF AMM COPYRIGHT TO PHOTOCOPY/DISTRIBUTE THIS PRODUCT

MOSCOW Russian miner and

steel producer Evraz Plc expects
coking coal prices to remain at
their current high levels for quite
a long time, a company executive
said Nov. 7.
At the currently operating
coking coal mines, the potential
for growth of production is almost
exhausted. That is why today it is
difficult to foresee any significant
growth in offer volumes, Evraz
vice president for sales and
logistics Ilya Shirokobrod told
delegates at the Russian Metals
Market conference in Moscow.
That is why we think the prices
will stick to their current levels for
quite a long time.
Seaborne premium hard coking
coal spot prices surpassed $300
per tonne Nov. 8 as bulls continued
to dominate the market.
Moscow-based Evraz is one of

continued
AMM PAGE 7

SUPPLY CHAIN
Russias two largest coking coal
producers, alongside Mechel.
Earlier this year, the Chinese
government implemented a
working-day directive, under
which coal mines were forced to
reduce operations to a maximum
of 276 working days of the year,
from 330 working days previously.
The measure was implemented for
both coking coal and thermal coal.
The government partially
relaxed its directive in September,
allowing some mines to operate
at a rate equivalent to 330 days a
year for the rest of the year, but that
applied mainly to thermal coal
producers (amm.com, Oct. 12).
NADIA POPOVA
NEWSROOM@AMM.COM
A version of this article was
first published by AMM sister
publication Metal Bulletin.

Alro Steel gets

OK for Michigan
expansion
NEW YORK Alro Steel Corp. has
been approved for a 39,000-squarefoot expansion of its 79,000-squarefoot distribution and processing
center in Charlotte, Mich.
Construction is expected to
begin Nov. 16 and conclude by
Oct. 31, 2017, according to the
Jackson, Mich.-based service
center chains application
with the Charlotte planning
commission.
The application was approved
Nov. 1, City of Charlotte
community development director
Bryan Myrkle told AMM.
The use of the new space has
not been specified as of yet. We
typically do not comment on
projects until they are complete,
Alro Steel vice president of business
development and marketing Brian
Glick told AMM via e-mail.
Earlier this year, Alro Steel

opened an 80,000-square-foot
distribution center in Tulsa,
Okla. (amm.com, July 5), and was
granted a property tax incentive
to construct additional warehouse
space at its facility in Cuyahoga
Falls, Ohio (amm.com, Jan. 13).
Alro distributes metals,
industrial supplies and plastics
from dozens of facilities in 12 states.
GRACE LAVIGNE
GRACE.LAVIGNE@AMM.COM

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continued
NOVEMBER 9, 2016

IT IS A VIOLATION OF AMM COPYRIGHT TO PHOTOCOPY/DISTRIBUTE THIS PRODUCT

AMM PAGE 8

NONFERROUS

WTO panel to
review China
raw material
restrictions
NEW YORK The World
Trade Organization (WTO) has
established a panel to examine
Chinas export restrictions
on certain raw materials after
receiving a second request from the
United States, AMM has learned.
The dispute settlement body
agreed to the establishment of the
panel Nov. 8, and Brazil, Canada,
the European Union, India, Japan,
Kazakhstan, Mexico, Norway, the
Russian Federation, Singapore,
South Korea, Taiwan and Vietnam
reserved third-party rights.
China had blocked the United
States initial request for a review
panel, claiming that the policies
it has imposed are necessary
components of measures taken
to help manage exhaustible
natural resources and to protect
the environment with the goal of
attaining sustainable development
(amm.com, Nov. 1).
However, the United States
made a second request for the
panel because it is still concerned
about Chinas continued
application of export restraints on
certain raw materialsantimony,
chromium, cobalt, copper,
graphite, indium, lead, magnesia,
talc, tantalum and tinthat are
integral to U.S. industry.
Chinas restrictions on these raw
materials are similar to those that
the dispute settlement body found
to be in conflict with WTO rules in
two previous disputes, according
to the United States.
In addition, the E.U. separately
requested the establishment of a
panel to examine the same issue,
saying that it was disappointed
that China continued to impose
export restrictions on a number of
raw materials, despite the dispute
settlement bodys previous
recommendations and rulings on
the matter.
In response to both the United
States and the E.U., China reiterated
its stance on respecting WTO
rules and abiding by its accession
commitments, and restated that
its policies are an integral part of
the countrys mission to achieve
sustainable development.
The United States regrettably
NOVEMBER 9, 2016

did not carefully review the new

measures the country published
Oct. 31 in Total Export Quota
of Industrial Products and
Agricultural Goods for 2017
before submitting a second
request, China added.
After declaring that it was not
in a position to accept the E.U.s
request for a panel, China said
that it was disappointed with the
E.U., noting that it held sincere
consultations with the eurozone to
find a solution to the dispute.
The United States recognized
Chinas right to block the E.U.s panel
request, but said that it would have
been more efficient for China and
the dispute settlement body if the
country accepted the establishment
of a single panel today.
The next meeting of the WTOs
dispute settlement body is
scheduled for Nov. 23.
MILLICENT DENT
MILLICENT.DENT@AMM.COM

Chinese
aluminum
smelters facing
environmental
scrutiny
SHANGHAI Chinese aluminum
producers are facing another
round of environmental
inspections that began in late
October, prompting renewed
fears of capacity shutdowns and
bringing environmental pressure
on aluminum smelters to the fore.
The Chinese central
government has taken a stricter
attitude towards pollution since
2014, with supervision teams
looking for operations that do not
meet environmental protection
standards and laws.
The Ministry of Environmental
Protection of China started another
wave of inspections in late October,
sending 10 supervision teams
to check the status of cleanup
operations at polluting projects and
the execution of environmental
laws in 20 provinces, including
Shangdong, Guangdong, Hunan
and Jiangxiall aluminum smelter
hubs, according to the state-owned
Xinhua News Agency.
The objective of this round of
inspections is to find out whether the
projects and operations that began
construction prior to Jan. 1, 2015, and
have already passed local inspections

break environmental laws, Xinhua

reported.
These new reviews have raised
concerns that aluminum smelters
capacities will be permanently
shuttered after environmental
protection authorities in Shandong
Province issued several fines and
orders to cease production.
In late July, two aluminum
smelters in the Shandong-based
Xinfa Group Co. Ltd. were fined
2 million yuan ($294,900) for
emissions from their thermal
power units that exceeded density
regulations, according to two
filings listed on the Liaocheng
Environmental Protection
Bureaus website.
Between May and September,
China Hongqiao Group Ltd.
the worlds largest aluminum
producer, with combined capacity
of 5.9 million tonnes per year of
aluminumreceived penalty
notices of fines and orders to
cease production at several of its
aluminum and alumina smelters.
These orders involved a
combined aluminum capacity
of 3.61 million tonnes per year,
according to various filings on
Zouping Countys government
website.
As of Nov. 1, China Hongqiao
had not halted any operations
at those aluminum and alumina
smelters, nor had it paid any fines,
the company confirmed to AMM
sister publication Metal Bulletin.
These penalties indicate
the stronger attitude of local
environmental authorities towards
polluting operations, and there
are worries within the market
that stricter inspections and more
severe punishment may lead to
permanent production shuttering.
I dont know exactly what they
are looking at this time around,
but its clear that there will be more
inspections and that they will
look harder each time, a veteran
aluminum commentator said.
Shandong will not stand there
and do nothing, he said of the
local governments dilemma to

choose between environmental

and economic interests.
Permanent closures at aluminum
smelters would have an impact
on market sentiment and prices, a
central China-based trader said.
But not everyone is worried
about the probes effect on Chinese
aluminum capacity.
Past production suspensions
were mostly due to the high
running cost at those smelters,
and there is no record of any
aluminum capacity being cut due
to environmental contraventions,
a Shandong-based analyst said.
There will be fines for smelters
that do not have good control over
emissions but little chance for a
smelter to be shut down, he added.
China has closed down 2.3
million tonnes of out-of-date
aluminum capacity since 2010,
Wen Xianjun, vice chairman of the
China Nonferrous Metals Industry
Association (CNIA), said at a recent
industry conference in Nanning.
Aluminum smelters generally
have good control of environmental
pollution and wont have an actual
reduction on production due to
environmental issues, a Shanghaibased analyst said.
Chinas aluminum smelters
will be bracing themselves for
environmental inspections over
the next couple of months or even
longer. Meanwhile, industrial
associations will need to take the
lead to make sure the smelters bring
their emissions under control and
that all their facilities meet the
environmental standards.
I would call CNIA to lead an
audit on emission-monitoring
equipment to see if aluminum
smelters have been equipped with
such environment monitors, and
if the equipment is operating and
finally if it is achieving results, the
veteran commentator added.
Neither Xinfa Group nor the
nonferrous association could be
reached for comment.
A version of this article was
first published by AMM sister
publication Metal Bulletin.

MARKET PRICES
Prices are in cents per pound except as otherwise noted.

AMM Free Market

November 08

Revised

Prior Price

Copper cathode

243.15-243.65

11/08/16

235.90-236.40

Zinc

116.79-117.79

11/08/16

117.25-118.25

84.96-85.46

11/08/16

84.23-84.73

519.99-524.99

11/08/16

510.46-515.46

Aluminum
Nickel, melting
Comex copper settlement

237.90

11/08/16

230.65

No. 2 copper scrap

213.00*

11/08/16

206.00*

Silver, Handy and Harman (/troy oz)

1,840.50

11/08/16

* Nominal for spot sales

IT IS A VIOLATION OF AMM COPYRIGHT TO PHOTOCOPY/DISTRIBUTE THIS PRODUCT

1,811.00

continued
AMM PAGE 9

NONFERROUS

AEC praises
Terrafame nickel,
Commerce
zinc mine likely to
decision in
avoid closure
Zhongwang probe NEW
YORK Finlands biggest
nickel mine is likely to secure new
NEW YORK The Aluminum
Extruders Council (AEC) has
responded to the U.S. Commerce
Departments preliminary
determination that Chinese
aluminum producer China
Zhongwang Holdings Ltd. is
circumventing anti-dumping
duties.
We are gratified by Commerces
preliminary determination to take
steps to shut down what has been a
significant avenue of circumvention
for Zhongwang and other Chinese
producers, Alan H. Price, a partner
at Washington-based Wiley Rein
LLP and counsel to the AEC, said
in a Nov. 8 statement. Regardless
of what it has said publicly, rather
than address Commerces concerns,
Zhongwang once again refused
to participate in this proceeding.
Zhongwang has no interest in
participating at Commerce and has
instead looked for ways to exploit
the system from the beginning.
The AEC is pleased to see this
decision from the Department of
Commerce, AEC president Jeff
Henderson said in the statement.
We know Commerce has worked
hard on this case, and we thank
them for that.
Commerce made a preliminary
determination that aluminum
extrusions meeting the chemical
specifications for 5050-grade
alloy are circumventing existing
anti-dumping and countervailing
duties, according to a Nov. 3 notice
(amm.com, Nov. 7). The case is now
up for public comment, with the
final determination scheduled for
Jan. 9, 2017.
The 5050-grade alloy is a rolling
alloy and is not intended for use
as an extrusion, according to the
AEC. Making extrusions with 5050
alloy is not a recognized practice
and such extrusions would be made
solely for the intent of evading the
payment of anti-dumping and
countervailing duties, the AEC said.
Anti-dumping margins on
Chinese aluminum extrusions
were set at 32.79 to 33.28 percent in
2011, while countervailing duties
were set at 8.02 to 374.15 percent
(amm.com, May 26, 2011).
KIRK MALTAIS
KIRK.MALTAIS@AMM.COM
NOVEMBER 9, 2016

investors by the end of this year

to avoid closure and will become
profitable in 2018, the mines
owner, Terrafame Oy, said Nov. 7.
Terrafames parent company,
Terrafame Group Ltd., is wholly
owned by the Finnish government.
The Finnish government said
that it would shut the mine if a
private investor was not found by
the end of the year, according to
Terrafame.
During the global financing
process, we have been in contact
with a significant number of
parties deemed to have sufficient
financial resources, know-how,
as well as industrial and other
interest in Terrafame, Terrafame
Group chief executive officer Matti
Hietanen said in a statement.
Our goal is to achieve a positive
cash flow during 2018, Terrafame
chief commercial officer Janne
Palosaari told AMM via e-mail
Nov. 8.
The mines production targets
were achieved in the third quarter,
with nickel production jumping
35.1 percent to 2,370 tonnes from
1,754 tonnes in the previous quarter
and zinc production surging 55.5
percent to 6,328 tonnes from 4,070
tonnes in the second quarter,
according to the company.
The company added that a
second production line that was
put into operation in October
will nearly double the monthly
production volume.
The company also stressed
that unit costs of production have
decreased and are expected to
continue falling once the second
production line ramps up. The
mines operating loss fell 14.1
percent to 38.5 million ($42.5
million) in the third quarter from
44.8 million in the previous
quarter.
Terrafame has now completed
about 15 months of ramp-up and
metals production, which have
progressed strongly as planned.
In addition, the company has
the environmental matters
under control, Terrafame Group
chairman Lauri Ratia said in the
statement.
The company also released
nickel production targets of

24,000 tonnes in 2017, 30,000

tonnes in 2018 and 35,000 tonnes
from 2019 onward. The targets
for zinc are 58,000 tonnes in 2017,
67,000 tonnes in 2018 and 75,000
tonnes from 2019 onward.
The mines former owner, Espoo,
Finland-based Talvivaara Mining
Co., was forced to file for bankruptcy
in November 2014, according to
AMM sister publication Metal
Bulletin. The Finnish government
then established the state-run entity
to control the mine, which restarted
the mines operations in
August 2015.
The government took control
of the mine in order to properly
handle environmental safety
and to protect the jobs that the
operation generated in eastern
Finland, Ratia told Metal Bulletin
in May.
MILLICENT DENT
MILLICENT.DENT@AMM.COM

IT IS A VIOLATION OF AMM COPYRIGHT TO PHOTOCOPY/DISTRIBUTE THIS PRODUCT

Peruvian copper
production hits
new high in 2016
SO PAULO Peruvian copper
production in the first nine months
of 2016 has surpassed the previous
record volume reported for the full
year of 2015, the countrys Mines
and Energy Ministry (MEM) said
Nov. 6.
Output totaled 1.73 million
tonnes from January to September,
up 44.1 percent from the
corresponding period last year and
already higher than the 1.7 million
tonnes produced in all of 2015.
The results were boosted by the
contribution of new projects such
as Melbourne, Australia-based
MMG Ltd.s Las Bambas and
expansions including Phoenixbased Freeport McMoRan Inc.s
Cerro Verde.
Las Bambas output totaled
224,845 tonnes in the first nine
months of 2016 vs. no volume in
the same period of 2015.
Meanwhile, copper production
from Cerro Verde grew to 384,161
tonnes in the first nine months
from 156,574 tonnes a year earlier,
according to MEM.
In September alone, Perus
copper production came to 199,537
tonnes of copper, up by 34.6 percent
from the same month in 2015.
Output is expected to continue
to grow for the remainder of the
year, surpassing 2.3 million fine
tonnes by the end of the year,
according to Marcos Villegas
Aguilar, MEMs head of mining.
DANIELLE ASSALVE
NEWSROOM@AMM.COM
A version of this article was
first published by AMM sister
publication Metal Bulletin.

AMM PAGE 10

November 17-18, 2016

Hilton Rosemont/Chicago O'Hare
Chicago, USA
Key speakers include:

Lourenco Goncalves, CEO, Cliffs Natural Resources

David Stickler, CEO, Big River Steel
Bernhard Schlattl, CEO, voestalpine Texas
Tamara Lundgren, CEO, Schnitzer Steel
Joe Dzierzawski, President and CEO, SMS USA
Dean Kanelos, Automotive Development Metallurgist, Nucor Steel
Dan North, Chief Economist, North America, Euler Hermes
An excellent networking event with high value information delivered by the right
people in the industry
William Johnson, Director of New Business Development, Lhoist NA
Silver Sponsor

Bronze Sponsors

continued
NOVEMBER 9, 2016

IT IS A VIOLATION OF AMM COPYRIGHT

TO PHOTOCOPY/DISTRIBUTE THIS PRODUCT
amm.com/events/dri
marketing@amm.com

+1 212 901 3828AMM PAGE 11

SCRAP

Summer
blues hit Sept.
ferrous scrap
exports
NEW YORK A late case of summer
doldrums crimped U.S. ferrous scrap
exports in September as buyers
in major destinations noticeably
scaled back trading activity amid
lower finished steel demand.
Overall ferrous scrap export
volumes slid by 203,999 tonnes
compared with August levels,
U.S. Commerce Department
data show. Shipments to Turkey
during September, booked the
previous month, fell 18.9 percent as
steelmakers showed restraint due
to slower order books.
Turkish mills played their
cards close to their chests for
most of August, releasing trading
information late in order to curb
potential pricing upside (amm.com,
August 24). The murky international
price environment and limited raw
material trades served to push prices
down throughout September.
Unusually, U.S. domestic
market scrap prices slipped below

those in the deep-sea arena in

September after taking multiple
hits throughout the summer,
leading some market participants
in coastal regions to sell their
material abroad rather than at
home amid negative market
sentiment (amm.com, Sept. 23).
Meanwhile, Indian and South
Korean buyers who are known to
return at the bottom of the market
seized the opportunity to buy at
lower prices. Shipments to India
gained 35.1 percent, while South
Korean intake almost doubled
from August levels.
Notably, shipments to mainland
China have logged month-onmonth increases since February.
Chinese steelmakers previously had
reduced their intake of U.S. material
significantly in 2014, instead
opting for Japanese H2-grade
scrap. But Chinese steelmakers are
increasingly turning their sights to
the United States after a runup in
Japanese scrap export prices over
the summer.
Skyrocketing coking coal prices
are likely to help sustain ferrous
scrap export sales to China, at least
in the near term. A West Coast
exporter is said to have sold three
or four bulk cargoes to a Chinese
mill last week at $260 per tonne
c.f.r. or higher.

US EXPORTS OF FERROUS SCRAP BY DESTINATION

(in tonnes)

Year to date
Sept.

Aug.

July

2016

2015

%
change

55,214

77,019

58,740

572,120

556,433

+2.8

China

109,282

87,089

57,747

525,024

557,883

5.9

Egypt

91,911

160,655

42.8

Canada

Hong Kong

3,375

4,204

3,674

31,244

50,528

38.2

42,978

31,823

20,050

770,096

665,828

+15.7

Indonesia

6,875

2,354

116

40,024

32,018

+25.0

Japan

2,537

1,961

1,669

17,875

36,069

50.4

India

Kuwait
Malaysia
Mexico
Peru

45,057

46,278

313,365

148,513

+111.0

1,181

2,947

1,463

22,897

26,596

13.9

158,628

193,006

132,842

1,124,962

826,278

+36.1

29,401

30,718

303,753

276,068

+10.0

Saudi Arabia

49,495

16

49,519

132,570

62.6

South Korea

121,102

61,488

86,265

676,593

887,749

23.8

Taiwan

126,279

154,316

139,715

1,019,133

1,460,819

30.2

61,468

198

249

292,164

312,062

6.4

268,925

331,627

217,154

2,302,087

2,920,976

21.2

12,544

68,308

49,248

188,775

276,049

31.6

Thailand
Turkey
Vietnam
Others
Total

41,896

203,060

35,538

724,399

640,954

+13.0

1,091,180

1,295,179

850,772

9,065,941

9,968,048

9.0

Shipments to Taiwan, a major

containerized scrap customer for
West Coast exporters, declined
18.2 percent vs. August. The
nations intake of No. 1 heavy melt
fell 20.2 percent to 47,075 tonnes,
while its shredded scrap buys fell
34.6 percent to 27,619 tonnes in
September.
By grade, shredded scrap and No.
1 heavy melt exports slid 33.1 percent
and 13.6 percent, respectively, to
332,489 tonnes and 310,953 tonnes
in September compared with
the previous month. However,
shipments of alloys increased 65.2
percent to 108,153 tonnes in the
same comparison.
MEI LING TOH
MEI.TOH@AMM.COM

Alpha Recycling
wins judgment vs.
NJ supplier
PITTSBURGH Alpha Recycling
Inc. has been awarded a judgment
of nearly $80,232 against a supplier
who allegedly had accepted
advance payment to procure
catalytic converters, then failed
to deliver the scrap or return
the money, according to a state
supreme court in Bronx, N.Y.
The Bronx-based recycler said
it was forced to go to court in an
attempt to be repaid for a loan that
it claimed had been outstanding
since February 2015.
During a four-year relationship,
Alpha said it advanced money
to Nedal Abuhumoud, owner
of Acres Auto Recycling Inc.,
which operates in Hamilton, N.J.,
according to court documents.
Abuhumoud would buy catalytic
converters through his business
and then deliver them to Alpha.
In April, Alpha severed the
business relationship after
not receiving material or
repayment of an $86,000 loan
issued in January 2015, the court
documents state.
Abuhumoud could not be
reached for comment.
LISA GORDON
LGORDON@AMM.COM

Aluminum scrap
mart maintains
steady footing
PITTSBURGH U.S. aluminum
scrap prices remain stable, with
softer demand amid the year-end
wind down offsetting mixed
reports of tighter scrap supply.
The U.S. presidential race has
worked to slow activity, with some
market participants saying they
were temporarily stepping to the
sidelines as the election results
came down to the wire Nov. 8.
No price changes. ... (Were)
waiting for the election to see
where things go, one supplier
source said.
A second supplier shared a
similar view, noting that prices
remain steady for the time
being. All bets are off. ... (Itll be)
interesting (to see) how the global
market will react either way (to
the outcome of the election), but
well find out soon enough, this
supplier said.
Demand is also muting any hope
for a surge in buying. We are out
of the market at the moment; may
possibly be buying in December,
one consumer source told AMM.
(Were) still at the same prices
and we are still buying some
material. (The London Metal
Exchange) seems to holding (in)
the $1,700s (per tonne), but for how
long? a second consumer asked.
The three-month aluminum
contract closed the LMEs official
session at $1,714.50 per tonne (77.8
cents per pound) Tuesday, down
0.4 percent from $1,721.50 per
tonne (78.1 cents per pound) a day
earlier and off 0.8 percent from
$1,729 per tonne (78.4 cents per
pound) Nov. 3.
Mill- and smelter-grade scrap
prices were mostly unchanged,
according to AMMs latest
assessment, with aluminumcopper radiators showing the only
movement as a rally in primary
copper pushed tags up a penny.
The spot Comex copper contract
hit a more than one-year high
of $2.3065 per pound Nov. 7, the
highest level since Nov. 4, 2015,
when prices closed at $2.3195 per
pound.
BRAD MACAULAY
BMACAULAY@AMM.COM

Source: Compiled by AMM from data released by the U.S. Commerce Department.

NOVEMBER 9, 2016

IT IS A VIOLATION OF AMM COPYRIGHT TO PHOTOCOPY/DISTRIBUTE THIS PRODUCT

AMM PAGE 12

SCRAP

Chinas fading scrap appetite hits US nonferrous exports

PITTSBURGH U.S. nonferrous
scrap exports stepped back in
September as Chinas fading
appetite negatively impacted
aluminum and copper scrap
shipments.
September was a period of weak
supply and spotty demand, a weird
phenomenon of lack of supply
and demand, one copper supplier
said. There was weak demand
overseas and copper spreads in
China werent as strong as they
were in the domestic market.
Of the key nonferrous scrap
grades tracked by AMM
aluminum, copper, lead, nickel,
zinc and used beverage cansfive
of the six logged declines, bringing
the overall total down by 22,292
short tons in September compared
with the previous month.
Copper scrap shipments to
China (including Hong Kong)
totaled 63,691 tons in September,
down 8.5 percent from 69,579
tons in August, according to U.S.
Commerce Department data.
Reduced copper appetites were
shared almost across the board,
with Taiwan, Belgium, Mexico
and Canada showing the heftiest
percentage declines, respectively,
compared with the previous month.
Japan and India bucked the trend,

registering gains of 53.6 percent and

5.3 percent, respectively.
Meanwhile, lower aluminum
scrap prices from China in
September for shredder residue
products was cited for the steep
decline in shipments to the
Asian giant during the month, an
aluminum scrap supplier
source said.
The takeaway for September
was the pullback in shredder
residue product prices. China
really started to curb zorba pricing
in September. There was weaker
demand coming out of and inside
the country, and weakness in the

Japanese market for aluminum

alloys from China, the same
supplier said.
Aluminum scrap exports fell
by 11,339 tons in September, led
by a 5,668-ton fall in shipments
to China (including Hong Kong)
compared with August. A drop in
aluminum scrap demand by other
key consumers in Asiaincluding
Taiwan, Thailand, South Korea
and Japanalso weighed on
exports. However, shipments to
India increased 4.7 percent month
on month in September.
BRAD MACAULAY
BMACAULAY@AMM.COM

US EXPORTS OF NONFERROUS SCRAP

(in short tons)

Year to date
Aluminum
UBCs
Copper

Sept.

Aug.

July

2016

2015

%
change

120,882

132,221

116,715

1,038,982

1,197,233

13.2

2,844

2,869

1,810

38,325

47,228

18.9

84,994

95,504

88,024

762,727

800,797

4.8

Lead

4,463

4,913

3,720

36,469

39,034

6.6

Nickel

2,663

2,210

2,366

23,528

20,869

+12.7

Zinc
Total

2,757

3,178

2,533

26,222

49,642

47.2

218,603

240,895

215,168

1,926,253

2,154,803

10.6

Source: Compiled by AMM from data released by the U.S. Commerce Department.

WEEKLY SCRAP COMPOSITE PRICES

Averages calculated each Friday, based
on data effective from the previous Friday
to Thursday. Prices are in US$/gross ton.
SHREDDED SCRAP
calculation date

AMM A380 INGOT/SCRAP ALUMINUM PRICES

(cents per pound)

100

UPDATED: NOVEMBER 4, 2016

82.50

80
70

66.00

Year Ago

$190.00

$180.00

Chicago

198.00

198.00

180.00

Philadelphia

185.00

185.00

160.00

Pittsburgh

207.00

207.00

180.00

Composite

$195.00

$195.00

$175.00

11/04/16

Prior Wk

Year Ago

$205.00

$205.00

$190.00

Cleveland

210.00

210.00

190.00

Pittsburgh

202.00

202.00

182.00

Composite

$205.67

$205.67

$187.33

11/04/16

Prior Wk

Year Ago

$180.00

$180.00

$160.00

Philadelphia

161.00

161.00

145.00

Pittsburgh

188.00

188.00

152.00

Composite

$176.33

$176.33

$152.33

NO. 1 BUSHELING

Chicago

NO. 1 HEAVY MELT

60

calculation date

57.00

50
A380 Ingot

UBCs

Nov. Dec. Jan. Feb. Mar. Apr.

2015

Chicago

Mixed low copper clips

May June

July

Aug. Sept. Oct. Nov.

2016
SOURCE: AMM.

NOVEMBER 9, 2016

Prior Wk

$190.00

calculation date

90

40

11/04/16
Alabama

IT IS A VIOLATION OF AMM COPYRIGHT TO PHOTOCOPY/DISTRIBUTE THIS PRODUCT

continued

AMM PAGE 13

8TH ANNUAL

RECOGNIZING INNOVATION & INITIATIVE

IN THE STEEL INDUSTRY
American Metal Market proudly announces the eighth annual Awards for Steel Excellence,
which recognizes the highest achievements in the industry across multiple categories. New
this year are categories that honor suppliers of critical services and materials essential to
the steel industry. Demonstrate your companys excellence by nominating your firm today!
1 7 C AT E G O R I E S
Environmental Responsibility/Stewardship
(including energy conservation or delivery)

Best Innovation Product

Best Innovation Process
Best Mergers & Acquisitions
Best Operational Improvements
Technology Provider of the Year
Financial Services Provider of the Year

NEW!

Legal Services Provider of the Year

Information Technology Services
Provider of the Year (including
enterprise and manufacturing software)

Logistics/Transportation Provider of the Year

Scrap Company of the Year

NEW!

Shredder Equipment Provider of the Year

Tube and Pipe Producer of the Year
Service Center of the Year

NEW!

Raw Materials/Consumables
Provider of the Year
Corporate Advocate of the Year

Steel Producer of the Year

For further information, please contact Bette Kovach at
bette.kovach@amm.com or 212-224-3902

NOMINATIONS DEADLINE FEBRUARY 15, 2017

NOVEMBER 9, 2016

http://www.amm.com/awards

IT IS A VIOLATION OF AMM COPYRIGHT TO PHOTOCOPY/DISTRIBUTE THIS PRODUCT

continued
AMM PAGE 14

AMM STEEL PRICES

PRICES EFFECTIVE TUESDAY, NOVEMBER 8, 2016

NOTICE
AMM proposes discontinuing its price for imported
hot-dipped galvanized steel 0.019 inch thick with a G60
coating effective Nov. 16. If you have questions on these
proposed changes, please e-mail tschier@amm.com.

STAINLESS STEELS
Market prices, f.o.b. mill, by grade, not including extra
charges for size, finish, temper, packaging, shipping
and other specifications.
COILED PLATE
Plate produced on a continuous mill.
Grade

US$/cwt

304

90.50

304L

92.50

316

122.50

316L

122.50
BAR

Smooth-turned round bar, 1" diameter, mostly in

10,000-lb quantities.
Grade

US$/cwt

303

123.00

304

119.00

316

164.00

416

101.50

17Cr4Ni

191.00
COLD-ROLLED SHEET

Grade

US$/cwt

304

107.00

304L

109.00

316L

141.00

NA--Not available

To become a price contributor see

Metal Exchanges page.

SHEET AND COIL

Port of Houston prices, c.f.r. port, in US$/short ton.

Midwest market prices per hundredweight, f.o.b. mill.

Reinforcing bar*

$386-$395

Hot-rolled

$24.00

Wire rod (low carbon)

$386-$395

Cold-rolled (Class I)

$35.00

Merchant bar

$530-$550

Hot-dipped galvanized (base price)

$35.50

Beams

$480-$520

Hot-dipped galvanized*

$39.50

Reinforcing bar, Grade 60, No. 5

Hot-rolled coil

$440-$460

Plate

$465-$480

Galvalume

$36.50

2 x 2 x 1/4" angle

$30.05

Cold-rolled coil
Hot-dipped
galvanized,0.012-0.015", G30
Hot-dipped galvanized,0.019", G60

$580-$620

Electrogalvanized

$41.50

Aluminized (Type 1)

$40.50

3 x 3 x 1/4" angle

$30.50

Motor lamination

$38.00

$660-$700

* The price for hot-dip galvanized sheet represents

a base price plus a G90 coating on material 0.040
inch (1 millimeter) thick.

PLATE

Prices in US$/tonne. China, Turkey and India prices

are f.o.b. main port. CIS prices are f.o.b. Black Sea.
China export cold-rolled coil
$500-$505
(rev. 11/04/16)
China export galvanized coil
$575-$580
(rev. 11/04/16)
China export wire rod
$395-$400
(rev. 11/04/16)
Turkey export rebar
$410-$420
(rev. 11/03/16)
Turkey export wire rod
$410-$430
(rev. 11/03/16)
CIS export hot-rolled coil
$425-$435
(rev. 11/07/16)
CIS export cold-rolled coil
$490-$500
(rev. 11/07/16)
India export galvanized coil
$730-$740
(rev. 11/04/16)

Market prices per hundredweight, f.o.b. mill.

OIL COUNTRY TUBULAR GOODS

Average monthly market prices per ton from distributors
surveyed in the Houston area by Pipe Logix, Inc.
Oct
$/ton
$998
$1,183
$1,208
$1,450

TUBING
Carbon - annealed ERW
Carbon - seamless
N80 - ERW
N80 - seamless
CASING
Carbon - annealed ERW
Carbon - seamless
N80 - ERW
N80 - seamless

$791
$1,012
$1,008
$1,142

Cold-Rolled Coil

CARBON GRADE PLATE

Cut-to-length

$23.25

Coiled

$22.00
STRIP MILL PLATE

48-inches

$24.00

60-inches

$24.50

72-inches

$24.75
ALLOY PLATE

8 x 11.5 channels

$29.75

1/2 x 4" flat

$30.25
COLD-FINISHED
$43.00

1" round, 12L14 (carbon)

$51.50

1" round, 4140 (alloy)

$62.50

(special bar quality)

1" round, 1000 series (carbon)

$29.00

1" round, 4100 series (alloy)

$34.50

ROD
Market prices per hundredweight, f.o.b. mill.
Mesh quality low carbon

$21.00-$22.00

Industrial quality low carbon

$21.00-$23.00

PIPE AND TUBE

High carbon

$24.00-$25.00

Market prices in US$/short ton.

Domestic

Cold-heading quality

National mills

$39.75

$27.00

OCTG J55 casing

$820

Line pipe X52

$840

Standard pipe A53 Grade B

$820

Market prices per hundredweight, f.o.b. mill.

OCTG seamless casing P110

$995

W8 x 8

OCTG J55 casing

$690

STRUCTURAL TUBING

Line pipe X52

$600

Standard pipe A53 Grade B

$590

OCTG seamless casing P110

$860

Import

BEAMS
$32.50

Market prices in $/short ton

ASTM A500 Grade B

$730.00-$770.00

400
300

475

200

$546
$462

Apr. 25

CHINA: HOT-ROLLED BAND AND COLD-ROLLED COIL

Cold-Rolled Coil Hot-Rolled Band

Oct. 24

WORLD EXPORT MARKET: HOT-ROLLED BAND

$464

500

600

100

$331
$361
$253

Oct. 26

Apr. 25

Oct. 24

CHINA: REBAR

450

450

400

400

350
$417

350

300
250

300
250

$24.00-$25.00

HOT-ROLLED

600

$592

500

(base prices)

National mills

700

Hot-Rolled Band
$757

Oct. 26

MERCHANT PRODUCTS

(dollars per tonne)

850

350

Market prices per hundredweight, f.o.b. mill.

1" round, 1018 (carbon)

WORLD EXPORT PRICES

UNITED STATES: HOT-ROLLED BAND AND COLD-ROLLED COIL

975

725

$670-$700

*The price for import rebar represents a price paid by a

trader to a foreign mill. It does not represent a delivered
duty paid price from the port to a domestic buyer.

STEELBENCHMARKER PRICING 2015-2016

1,100

BARS

IMPORT PRICES

$294

200 Oct. 26

200
Apr. 25

Oct. 24

$323
$261

150 Oct. 26

STEELBENCHMARKER IS A JOINT VENTURE OF WORLD STEEL DYNAMICS INC. AND AMM/METAL BULLETIN THAT WAS OFFICIALLY LAUNCHED IN APRIL
2006. PRICES ARE PUBLISHED TWICE MONTHLY. STEELBENCHMARKER IS DESIGNED TO PROVIDE A RELIABLE SET OF BENCHMARK PRICES FOR USE
BY PARTICIPANTS IN THE STEEL INDUSTRY AND OTHERS WITHOUT REQUIRING DISCLOSURE OF ACTUAL TRANSACTION PRICES.

Apr. 25

Oct. 24

NOTE: PRICES FOR THE UNITED STATES ARE F.O.B. MILL, EAST OF MISSISSIPPI; CHINA IS EX-WORKS; AND WORLD
EXPORT MARKET IS F.O.B. PORT OF EXPORT. SOURCE: WORLD STEEL DYNAMICS INC., ENGLEWOOD CLIFFS, N.J.

Prices are subject to the disclaimer appearing on the Metal Exchanges page.
NOVEMBER 9, 2016

IT IS A VIOLATION OF AMM COPYRIGHT TO PHOTOCOPY/DISTRIBUTE THIS PRODUCT

AMM PAGE 15

AMM NONFERROUS SCRAP PRICES

PRICES EFFECTIVE TUESDAY, NOVEMBER 8, 2016

COPPER

No. 1 heavy copper and wire

NO. 2 HEAVY COPPER AND WIRE
Light copper
RED BRASS SOLIDS
Red brass turnings, borings
Cocks and faucets
Brass pipe
YELLOW BRASS SOLIDS
Mixed yellow brass turnings, borings
Yellow brass rod ends
Yellow brass rod turnings
70-30 brass clips
AUTO RADIATORS (UNSWEATED)
High-grade bronze gears
High-grade low lead bronze
Manganese bronze solids
Miscellaneous nickel-"silver" solids
Manganese bronze turnings

ALUMINUM

Boston

Buffalo

Chicago Cincinnati Cleveland

Detroit

Houston

L.A.

N.Y.

Philly

Pburgh

S.F.

St. Louis

Montreal

Toronto

165-175
152-162
142-152
149-159
114-124
......
117-127
98-108
77-87
117-127
107-117
123-133
112-122
151-161
......
126-136
126-136
71-81

181-191
164-174
144-154
156-166
101-111
114-124
119-129
112-122
74-84
119-129
109-119
120-130
129-139
153-163
......
123-133
128-138
78-88

176-191
167-182
147-162
157-167
132-142
120-130
125-135
113-123
85-95
115-125
110-120
121-131
120-130
144-154
139-149
119-129
124-134
84-94

181-191
167-182
147-157
156-166
116-126
109-119
129-139
107-117
84-94
119-129
114-124
120-130
116-126
143-153
133-143
128-138
133-143
88-98

171-186
162-177
147-162
152-162
132-142
115-125
135-145
106-116
85-95
115-125
115-125
136-146
115-125
139-149
149-154
124-134
119-129
79-89

177-187
163-173
146-156
141-146
111-121
117-127
127-137
113-123
94-104
130-140
122-132
143-153
115-125
156-166
151-161
131-141
141-151
86-96

194-204
181-191
155-165
173-183
134-144
122-132
147-157
140-150
102-112
130-140
137-147
143-153
147-157
161-171
151-161
141-151
136-146
86-96

164-179
150-165
140-155
148-158
129-139
112-122
127-137
110-120
72-82
122-132
122-132
123-133
115-125
151-161
......
121-131
131-141
71-81

178-188
164-179
144-159
142-152
132-142
115-125
125-135
118-128
65-75
120-130
120-130
126-136
123-133
149-159
......
119-129
129-139
69-79

181-196
167-182
142-157
157-167
127-137
115-125
120-130
113-123
85-95
120-130
120-130
126-136
120-130
144-154
134-144
129-139
134-144
89-99

176-191
162-172
139-149
170-180
128-138
123-133
143-153
129-139
106-116
136-146
126-136
132-142
133-143
152-162
152-162
137-147
132-142
82-92

193-203
179-189
162-172
164-174
152-162
140-150
140-150
128-138
100-110
143-153
128-138
159-169
135-145
......
144-154
139-149
139-149
77-87

236-246
218-228
198-208
166-176
116-126
161-171
161-171
149-159
101-111
169-179
161-171
162-172
136-146
167-177
157-167
160-170
160-170
105-115

224-239
215-225
186-201
167-177
117-127
152-162
......
148-158
97-102
......
......
......
120-130
163-173
......
156-166
......
101-111

Atlanta

Boston

Buffalo

Chicago Cincinnati Cleveland

Detroit

Houston

L.A.

N.Y.

Philly

Pburgh

S.F.

St. Louis

Montreal

Toronto

45-50
43-48
40-42

43-46
39-41
40-41

47-50
45-47
45-47

45-47
41-42
39-43

43-46
41-43
39-44

36-38
32-35
33-36

53-57
47-50
49-53

38-41
35-38
35-38

39-41
37-42
34-39

43-46
40-43
41-44

46-47
44-45
44-45

53-54
52-53
51-53

56-58
54-56
53-54

54-56
51-53
49-51

181-196
167-182
152-167
151-161
126-136
109-119
129-139
117-127
84-94
124-134
124-134
125-135
131-141
143-153
133-143
138-148
118-128
83-93

40-45
39-41
39-42

40-43
37-40
38-40

23-28

23-26

19-24

23-28

21-26

20-25

25-30

16-21

29-34

19-24

17-22

23-28

23-25

32-37

28-32

26-30

39-44
44-47
39-42
51-53
38-41
25-28
40-44
39-44
55-60

38-40
34-36
38-39
53-54
35-37
......
......
37-39
51-54

41-42
37-38
37-38
53-54
39-41
......
40-41
43-44
......

42-47
40-45
41-46
51-56
39-44
36-41
30-34
37-42
48-53

40-45
39-44
......
......
......
......
......
......
......

38-41
37-39
39-44
49-54
35-40
25-30
33-38
37-42
......

39-44
35-40
43-48
51-56
43-48
31-36
36-41
38-43
48-53

37-38
42-47
36-37
46-50
33-34
20-23
32-34
34-37
48-52

49-52
47-49
......
......
57-60
32-37
......
47-50
56-61

34-37
44-46
40-43
......
......
......
35-38
......
......

36-39
41-44
37-41
46-51
35-38
23-26
......
31-35
......

42-47
40-45
......
......
......
......
......
......
......

41-43
39-42
......
......
48-51
18-21
......
38-40
50-55

45-47
49-51
......
59-64
47-51
......
......
47-50
60-63

47-49
40-42
49-51
66-68
50-52
33-35
38-40
50-52
......

47-49
40-42
47-49
65-67
48-50
31-33
40-42
48-50
......

Atlanta
37-42
35-38
......
27-31

Boston
45-48
......
......
25-27

Buffalo
44-49
45-47
21-23
32-36

Chicago Cincinnati Cleveland

43-48
......
42-47
41-43
......
43-47
......
......
20-25
20-24
......
25-29

Detroit
39-43
40-44
......
25-29

Houston
39-44
40-44
......
28-32

L.A.
......
......
......
......

N.Y.
39-44
......
17-19
20-24

Philly
41-46
......
......
26-29

Pburgh
......
......
20-22
22-26

S.F.
35-40
36-40
16-20
19-23

St. Louis
46-50
45-49
......
......

Montreal
51-56
48-49
29-30
35-39

Toronto
43-48
......
......
......

Atlanta

Boston

Buffalo

Chicago Cincinnati Cleveland

Detroit

Houston

L.A.

N.Y.

Philly

Pburgh

S.F.

St. Louis

Montreal

Toronto

35-40
29-34
29-34
......

30-32
31-33
31-33
35-40

35-40
34-39
31-33
31-36

37-42
30-35
30-35
38-43

35-39
36-38
34-36
32-36

38-43
39-44
34-39
......

34-39
33-38
33-38
......

......
......
......
......

......
......
......
......

37-42
35-40
34-39
......

41-46
38-43
38-43
41-47

34-39
33-38
30-35
39-45

......
34-39
......
......

(rev. 11/01/16)

HEAVY SOFT LEAD

Mixed hard lead
Undrained,whole old batteries
WHEEL WEIGHTS

ZINC

Atlanta
182-192
169-179
149-164
151-161
136-146
104-114
114-124
120-130
69-79
119-129
114-124
120-130
124-134
133-143
123-133
113-123
118-128
73-83

(rev. 11/01/16)

Segregated low copper clips

Mixed low copper clips
Mixed clips
Aluminum borings, turnings, clean
and dry
Old aluminum, sheet and cast
Used beverage cans, clean and dry
Industrial castings
63S aluminum solids
75S aluminum clips
75S borings, turnings, as is
Aluminum utensils
Painted aluminum siding
Litho sheets

LEAD

ESTIMATED DEALER BUYING PRICES, IN /LB. DELIVERED TO YARD. MONTREAL AND TORONTO PRICES ARE IN CANADIAN CURRENCY

(rev. 11/01/16)

(rev. 11/01/16)

New zinc die cast

OLD ZINC DIE CAST
Old zinc scrap
Zinc die cast automotive grilles

NICKEL

37-41
30-35
30-35
38-43

......
......
......
......

......
......
......
......

(rev. 11/01/16)

New nickel clips and solids

Nickel turnings
New nickel-copper alloy
(e.g., Monel) clips and solids
Nickel-copper alloy (e.g., Monel)
turnings and shavings
Nickel-copper alloy
(e.g., Monel) castings
Nickel-chrome-iron alloy
(e.g., Inconel) solids

Atlanta

Boston

Buffalo

Detroit

Houston

L.A.

N.Y.

Philly

Pburgh

S.F.

St. Louis

Montreal

Toronto

360-410
300-350

335-385
275-325

335-385
275-325

Chicago Cincinnati Cleveland

360-410
300-350

360-410
300-350

360-410
300-350

360-410
300-350

360-410
300-350

335-385
......

360-410
......

360-410
......

360-410
300-350

335-385
......

335-385
......

335-385
275-325

335-385
......

195-235

165-205

165-205

195-235

195-235

195-235

195-235

195-235

165-205

195-235

195-235

195-235

165-205

165-205

......

......

185-230

155-200

155-200

185-230

185-230

185-230

185-230

185-230

155-200

185-230

185-230

185-230

155-200

......

......

......

205-245

185-225

185-225

205-245

205-245

205-245

205-245

205-245

185-225

......

205-245

205-245

......

185-225

......

......

260-285

230-255

230-255

260-285

260-285

260-285

260-285

260-285

230-255

260-285

260-285

260-285

230-255

230-255

230-255

230-255

Monel and Inconel are registered trademarks of Huntington Alloys Corp.

SCRAP

Scrap Prices Today

Estimated buying prices

(carload lots, delivered buyers' works)
In /lb except as otherwise noted.
BRASS MILL SCRAP
No. 1 copper
234.50*
REFINERS' COPPER SCRAP
No. 1 copper
230.00*
No. 2 copper
213.00*
BRASS INGOT MAKERS' SCRAP
(rev. 11/08/16)
Copper
No. 1 bare bright
234.00-236.00*
No. 1
230.00-232.00*
No. 2
213.00-215.00*
Light copper
206.00-208.00*
No. 1 comp. solids (rev. 11/02/16)

170.00-174.00

Comp., borings, turnings

(rev. 11/02/16)
Radiators (rev. 11/02/16)
Yellow brass solids (rev. 11/02/16)

151.00-153.00
138.00-140.00

* Nominal for spot sales.

167.00-170.00

SMELTERS' LEAD SCRAP

Buying prices heavy soft lead (cwt), including delivery
to smelter
(rev. 11/01/16)
Scrap lead
$74.00-$77.00
Remelt lead
$77.00-$79.00
Whole batteries
$33.00-$35.00
Cable lead
$80.00-$82.00
SMELTERS' ZINC SCRAP
(rev. 11/01/16)
New zinc clippings
70.00-73.00
Old zinc (clean)
54.00-57.00
Galvanizers' dross
61.00-64.00
SECONDARY SMELTERS'
ALUMINUM SCRAP
Buying prices delivered to Midwest smelters in full
truckloads containing several grades
(rev. 11/07/16)
Mixed low copper clips
56.00-58.00
Mixed high copper clips
55.00-57.00
Mixed high zinc clips
51.00-53.00
1-1-3 sows
58.00-60.00
Siding, painted
54.00-56.00
Mixed clips
53.00-55.00
Old sheet
52.00-54.00
Old cast
54.00-56.00

Turnings, clean and dry

High grade
54.00-56.00
Mixed grade (max. 5% Zn)
49.00-51.00
Aluminum-copper radiators
106.00-111.00
Nonferrous auto shred (90%
58.00-60.00
alum.) *
* Unmixed full truckload, "twitch" grade
DOMESTIC ALUMINUM PRODUCERS
Buying prices for processed used aluminum cans in
carload lots, f.o.b. shipping point
(rev. 11/07/16)
Used beverage can scrap
65.00-67.00
MILLS, SPECIALTY CONSUMERS' BUYING PRICES
(rev. 11/07/16)
Segregated low copper alloy clips
5052
73.00-76.00
3105
67.00-70.00
Mixed low copper alloy clips
64.00-67.00
Painted siding
62.00-64.00

Nonferrous scrap price changes were made for

these cities: None

American
Metal
Market
Click here for
pricing online

To become a price contributor see

Metal Exchanges page.

Prices are subject to the disclaimer appearing on the Metal Exchanges page.
NOVEMBER 9, 2016

IT IS A VIOLATION OF AMM COPYRIGHT TO PHOTOCOPY/DISTRIBUTE THIS PRODUCT

AMM PAGE 16

AMM SCRAP IRON AND STEEL PRICES

PRICES EFFECTIVE TUESDAY, NOVEMBER 8, 2016

CORRECTION

NOTICE

NOTICE

Due to a reporting error, the prices for Detroit ferrous

scrap were reported $2 per gross ton too high in
AMMs Nov. 8 edition. The corrected numbers are in
the current edition and are retroactive to Nov. 7.

AMM proposes discontinuing its consumer

price assessment in Youngstown, which has
merged into the Cleveland buying price, effective
March 1, 2017. If you have any questions or
comments, please contact lgordon@amm.com.

AMM proposes listing consumer buying prices

for ferrous scrap in Mexicos Bajio region
every Wednesday beginning Dec. 7, 2016. If
you have any questions about this proposed
change, please e-mail tschier@amm.com.

Scrap Prices Today

Consumer buying price changes were made for: Alabama, Arkansas/Tennessee,
Chicago, North Carolina/Virginia, South Carolina, Youngstown,Hamilton
Dealer selling price changes were made for: Atlanta, Montreal

CONSUMER BUYING PRICES

Estimated domestic consumer buying prices in US$/gross ton; delivered mill price. (a) Appraisal price NA--Not available 

Canadian currency; in net tons

Alabama

Chicago

Cincinnati

Cleveland

11/08/16

11/08/16

11/08/16

11/07/16

11/07/16

11/07/16

11/08/16

11/07/16

11/07/16

11/08/16

11/08/16

11/08/16

......

195

205

205

210

203

208

203

191

225

203

203(a)

172

207.00

No. 2 heavy melt

185

......

190

......

......

......

......

......

......

......

......

......

......

No. 1 bundles

207

225

240

230

242

218

......

220

222

......

......

253

......

No. 2 bundles *

......

155

160

......

......

......

......

121

102

......

82(a)

......

......

No. 1 busheling

225

235

235

230

240

223

223

220(a)

237

223

240(a)

239

237.33

No. 1 industrial bundles

......

......

......

......

......

......

......

......

242

......

......

......

......

Shredded auto scrap

220

228

228

235

240

222

225

221

241

225

240(a)

193

227.50

DATE REVIEWED:
NO. 1 HEAVY MELT

MACHINE SHOP TURNINGS

N. Carolina/
Detroit
Virginia Philadelphia

Ark/Tenn
Border

Pittsburgh

South
Carolina Youngstown

Hamilton,
Ontario Composites

80

130

155

125

83

140

100

155

105

100

......

......

......

Cast iron borings

......

......

132(a)

......

......

......

......

......

95

......

......

......

......

Cut structural/plate, 2' max

......

......

314(a)

......

......

......

......

290(a)

......

......

......

......

......

Cut structural/plate, 3' max.

230

......

......

......

......

......

......

225

257

......

......

......

......

Cut structural/plate, 5' max.

205

230

228

220

225

222

215

201

246

215

225(a)

191

......

Foundry steel, 2' max.

......

......

219

......

177

235

......

265(a)

180

......

185(a)

......

......

Cupola cast

......

......

259

......

100

285(a)

......

180(a)

213

......

......

......

......

......

......

294

......

255

315(a)

......

218(a)

262

......

......

......

......

CLEAN AUTO CAST

Unstripped motor blocks

......

......

214

......

285

......

......

180(a)

335

......

......

......

......

Heavy breakable cast

......

......

204

......

85

......

......

123(a)

173

......

......

......

......

Drop broken machinery cast

......

......

274

......

213

......

......

228(a)

......

......

......

......

......

Rail crops, 2' max.

......

......

244(a)

......

348

......

......

230(a)

325

......

......

......

......

Random rails

......

......

214(a)

......

......

......

......

170(a)

245

......

......

......

......

Steel car wheels

......

......

235

......

260

......

......

......

......

......

......

......

......

Rerolling rails

......

......

252(a)

......

......

......

......

......

......

......

......

......

......

......

......

205

......

200

200

......

......

165

......

......

......

......

STEEL (TIN) CAN BUNDLES

* Shredders may also be considered consumers for this grade

AMM INDEXES

DEALER SELLING PRICES

Ferrous Scrap Export Index ($/tonne, evaluated 11/02/16)

Estimated prices in US$/gross ton, shipping point dealer yard

Atlanta

Buffalo

Houston

11/07/16

11/07/16

11/07/16

Canadian currency; in net tons

St. Louis
Montreal

HMS 1&2 (80:20) East Coast (f.o.b. New York)

217.40

DATE REVIEWED:

HMS 1&2 (80:20) West Coast (f.o.b. Los Angeles)

201.00

No. 1 heavy melt

168

163

144

172

155

Shredded Steel Scrap, East coast (f.o.b New York)

222.19

No. 1 bundles

......

......

......

195

......

Midwest Ferrous Scrap Index ($/gross ton, evaluated 10/10/16)

11/08/16

11/08/16

No. 1 busheling

185

218

167

200

175

No. 1 heavy melt

182.00

Shredded auto scrap

183

215

160

200

280(a)

No. 1 busheling

203.81

Machine Shop Turnings

Shredded steel scrap

201.48

Cut structural/plate, 5' max.

MB Iron Ore Index ($/tonne, evaluated 11/08/16)

MBIO Index

68.30

88

83

67

105

120

178

192

169

180

165

EXPORT YARD BUYING PRICES

CONSUMER BUYING PRICE TREND

Estimated prices an export dealer, broker or processor will pay for items delivered to his yard, in US$/gross ton.
Boston
L.A.
N.Y.
Philly

Estimated trends in US$/gross ton, from prior month

DATE REVIEWED:

11/02/16

11/01/16

11/02/16

11/02/16

10/03/16

No. 1 heavy melt

135

110

160

165

90

90

60

65

130

110

55

......

No. 1 busheling

......

120

......

......

105

......

Machine shop turnings

......

40

95

......

40

30

Mixed cast

125

......

170

165

......

......

Unstripped motor blocks

130

95

175

160

100

65

75

65

130

130

50

75

140

120

165

170

100

100

Houston Seattle/Portland
DATE REVIEWED:

11/07/16

11/07/16

No. 1 heavy melt

30

30(a)

No. 1 busheling

30

......

Shredded auto scrap

30

30(a)

Machine shop turnings

20

30(a)

Cut structural/plate, 5' max

30

30(a)

No. 2 bundles

Auto bodies
To become a price contributor see Metal Exchanges page.

Cut structural/plate 5' max.

S.F. Seattle/Portland
10/03/16

Prices are subject to the disclaimer appearing on the Metal Exchanges page.
NOVEMBER 9, 2016

IT IS A VIOLATION OF AMM COPYRIGHT TO PHOTOCOPY/DISTRIBUTE THIS PRODUCT

AMM PAGE 17

AMM STAINLESS STEEL SCRAP PRICES

PRICES EFFECTIVE TUESDAY, NOVEMBER 8, 2016

DEALER BUYING PRICES

Boston

Buffalo

Chicago

Cleveland

Detroit

Houston

L.A.

N.Y.

Pburgh

S.F.

Southeast

Montreal

11/08/16

11/08/16

11/08/16

11/08/16

11/08/16

11/08/16

11/08/16

11/08/16

11/08/16

11/08/16

11/08/16

11/08/16

33-34

37-38

47-50

40-42

38-53

42-54

35-40

47-48

42-45

35-46

34-35

72-81

304 solids, clips

27-28

33-34

31-35

28-30

30-38

30-38

25-30

31-32

32-35

25-30

20-35

52-62

304 turnings

21-22

16-17

25-28

20-25

20-32

27-35

15-20

21-22

25-30

15-20

15-30

47-54

304 new clips (prompt industrial scrap)

......

33-34

31-35

28-30

30-38

......

25-30

31-32

32-35

25-30

20-35

52-62

430 new clips (prompt industrial scrap)

2-3

......

8-9

4-5

3-7

......

......

4-5

5-6

......

5-9

......

829-851

1,053-1,120

896-941

851-1,187

941-1,210

784-896

1,053-1,075

941-1,008

784-1,030

762-784

1,613-1,814

DATE REVIEWED:

DEALERS' BUYING PRICES (/lb.) Canadian currency

316 solids, clips

DEALERS' BUYING PRICES (US$/gross ton) Canadian currency

316 solids, clips

739-762

304 solids, clips

605-627

739-762

694-784

627-672

672-851

672-851

560-672

694-717

717-784

560-672

448-784

1,165-1,389

304 turnings

470-493

358-381

560-627

448-560

448-717

605-784

336-448

470-493

560-672

336-448

336-672

1,053-1,210

304 new clips (prompt industrial scrap)

......

739-762

694-784

627-672

672-851

......

560-672

694-717

717-784

560-672

448-784

1,165-1,389

430 new clips (prompt industrial scrap)

45-67

......

179-202

90-112

67-157

......

......

90-112

112-134

......

112-202

......

BROKER/PROCESSOR BUYING PRICES

Chicago

Cleveland

Detroit

Houston

N.Y.

Pburgh

Southeast

11/08/16

11/08/16

11/08/16

11/08/16

11/08/16

11/08/16

11/08/16

316 solids, clips

62-66

63-64

61-64

62-65

61-64

63-65

63-66

304 solids, clips

46-50

47-48

46-51

47-51

47-48

46-48

47-50

304 turnings

39-43

41-42

40-42

41-46

40-41

38-42

41-44

430 bundles, solids

13-17

......

14-14.5

10-18

......

13-16

10-17

7-12

......

......

......

......

7-13

7-13

10-15

......

12-12.5

7-14

......

12-13

12-14

6-10

......

8-9

......

......

6-10

6-10

316 solids, clips

1,389-1,478

1,411-1,434

1,366-1,434

1,389-1,456

1,366-1,434

1,411-1,456

1,411-1,478

304 solids, clips

1,053-1,120

DATE REVIEWED:
BROKER/PROCESSOR BUYING PRICES (/lb.)

430 turnings
409 bundles, solids
409 turnings
BROKER/PROCESSOR BUYING PRICES (US$/gross ton)

1,030-1,120

1,053-1,075

1,030-1,142

1,053-1,142

1,053-1,075

1,030-1,075

304 turnings

874-963

918-941

896-941

918-1,030

896-918

851-941

918-986

430 bundles, solids

291-381

......

314-325

224-403

......

291-358

224-381

430 turnings

157-269

......

......

......

......

157-291

157-291

409 bundles, solids

224-336

......

269-280

157-314

......

269-291

269-314

409 turnings

134-224

......

179-202

......

......

134-224

134-224

CONSUMER BUYING PRICES

EXPORT YARD BUYING PRICES

Pittsburgh

DATE REVIEWED:

10/10/16

CONSUMER BUYING PRICES (/lb.)

Estimated prices an export dealer, broker or processor will pay for items delivered to his yard, in US$/gross ton.
Boston
L.A.
N.Y.

Philly

S.F.

11/08/16

11/08/16

11/08/16

11/08/16

11/08/16

304 solids, clips

......

36.8-39

49-50

49-50

36.8-39

304 turnings

......

20-21.2

31-32

31-32

20-21.2

11-12

8.3-8.9

10-11

10-11

8.3-8.9

......

824-874

1,098-1,120

1,098-1,120

824-874

......

448-475

694-717

694-717

448-475

246-269

186-199

224-246

224-246

186-199

DATE REVIEWED:
STAINLESS STEEL SCRAP PRICES (/lb.)

316 solids, clips

70-73

304 solids, clips

49-51.5

304 turnings

42.3-46.5

430 bundles, solids

18.5-19.1

409 bundles, solids

14.5-15.2

CONSUMER BUYING PRICES (US$/gross ton)

316 solids, clips

1,568-1,635

304 solids, clips

1,098-1,154

304 turnings

948-1,042

430 bundles, solids

414-428

409 bundles, solids

325-340

430 bundles, solids

STAINLESS STEEL SCRAP PRICES (US$/gross ton)
304 solids, clips
304 turnings
430 bundles, solids
(a) Appraisal price

Scrap Prices Today

Dealer buying prices were reviewed for: Boston, Buffalo, Cleveland, Los Angeles, New York, San Francisco
Dealer buying price changes were made for: Chicago, Detroit, Houston, Pittsburgh, Southeast, Montreal
Broker/processor buying prices changes were made for: Chicago, Cleveland, Detroit, Houston, New York, Pittsburgh, Southeast
Export yard buying prices were reviewed for: Boston, Los Angeles, San Francisco
Export yard buying price changes were made for: New York, Philadelphia

To become a price contributor see Metal Exchanges page.

Prices are subject to the disclaimer appearing on the Metal Exchanges page.
NOVEMBER 9, 2016

IT IS A VIOLATION OF AMM COPYRIGHT TO PHOTOCOPY/DISTRIBUTE THIS PRODUCT

AMM PAGE 18

METAL EXCHANGES
PRICES EFFECTIVE TUESDAY, NOVEMBER 8, 2016

LONDON METAL EXCHANGE

NEW YORK FUTURES

Settlement price (*) is the same as the first-session cash asking price. Prices in US$/tonne.
Stocks represent total tonnes in LME warehouses at the end of the preceding day.
11/08/16
Bid

Bid

(in China yuan/tonne)

COMEX COPPER

(prices effective 11/08/16)

(/pound)

11/07/16

Ask

SHANGHAI FUTURES EXCHANGE

Comex, high grade, electrolytic cathode

Ask

ALUMINUM -- HIGH GRADE

Settlement (eff. 11/08/16)

1st session

Spot (Nov)

237.90

Cash

1,705.50

1,706.00*

1,714.00

1,716.00*

Dec

238.00

3 months

1,714.00

1,714.50

1,721.00

1,721.50

Mar

239.05

Stocks

2,120,725

Stocks

2,125,800

May

239.60

ALUMINUM -- ALLOY (380-1, DIN 226, ADC 12)

Opening stocks, short tons

1st session
Cash

1,555.00

1,565.00*

1,535.00

1,545.00*

3 months

1,570.00

1,580.00

1,575.00

1,580.00

Stocks

13,680

Stocks

13,680

ALUMINUM-ALLOY (North American Special)

1st session
Cash

1,720.00

1,720.50*

1,725.00

1,730.00*

3 months

1,735.00

1,735.50

1,740.00

1,745.00

Stocks

79,500

Stocks

79,060

72,071
COMEX GOLD
(US$/troy ounce)

Comex settlement (99.5%, eff. 11/08/16)

Nov

$1,273.40

Dec

$1,274.50

Feb

$1,278.30

Apr

$1,281.90
COMEX SILVER
(/troy ounce)

COBALT

Comex settlement (99.5%, eff. 11/08/16)

1st session
Cash

28,800.00

29,000.00*

28,500.00

29,000.00*

Nov

1,833.00

3 months

28,650.00

29,150.00

28,500.00

29,000.00

Dec

1,835.60

Stocks

609

Stocks

609

Jan

1,839.70

COPPER -- GRADE A

Mar

1,848.10

1st session

PLATINUM AND PALLADIUM

Cash

5,043.00

5,044.00

5,031.00

5,032.00

3 months

5,064.00

5,064.50*

5,041.00

5,042.00*

Stocks

291,625

Stocks

298,400

LEAD
1st session
Cash

2,072.50

3 months

2,092.00
Stocks

2,073.00*
2,093.00
188,050

2,092.50
2,107.00
Stocks

2,093.00*
2,109.00

(US$/troy ounce)
(Nymex settlement prices, eff. 11/08/16)
Platinum (99.95%), Jan

$1,008.60

Platinum (99.95%), Apr

$1,012.50

Palladium (99.95%), Dec

$665.50

Palladium (99.95%), Mar

$667.30
NATURAL GAS

188,125

(/mmBtu)

MOLYBDENUM

(Nymex settlement prices, eff. 11/08/16)

1st session
Cash

14,750.00

15,250.00*

14,750.00

15,250.00*

3 months

14,750.00

15,250.00

14,750.00

15,250.00

Stocks

Stocks

Henry Hub, Dec

$263.30
HOT-ROLLED COIL
(US$/short ton)

NICKEL

(Nymex settlement prices, eff. 11/08/16)

1st session

Nov

Cash

11,135.00

11,140.00*

10,925.00

10,930.00*

3 months

11,175.00

11,180.00

10,985.00

10,990.00

Stocks

362,970

Stocks

363,162

STEEL BILLET

$492.00

Dec

$515.00

Jan

$540.00

Feb

$540.00
MIDWEST NO. 1 BUSHELING FERROUS SCRAP

1st session
Cash

300.00

325.00*

300.00

325.00*

3 months

300.00

325.00

300.00

325.00

Stocks

Stocks

TIN
1st session
Cash

21,940.00

21,945.00*

21,650.00

21,655.00*

3 months

21,745.00

21,750.00

21,475.00

21,500.00

Stocks

2,930

Stocks

2,930

ZINC -- SPECIAL HIGH GRADE

1st session
Cash

2,443.00

2,443.50*

2,453.00

2,454.00*

3 months

2,455.00

2,456.00

2,469.00

2,470.00

Stocks

448,575

Stocks

449,050

NOVEMBER 9, 2016

(US$/gross ton)
(Nymex settlement prices, eff. 11/08/16)
Nov

$245.00

Dec

$255.00

Jan

$255.00

Feb

$255.00

TO BECOME A PRICE CONTRIBUTOR

AMM invites you to become a pricing/assessment contributor. Please send your name,
company, contact details and metals/categories of interest to the Editor-in-Chief, Bristol
Voss, at bristol.voss@amm.com. An AMM metals specialist in your category will follow
up by phone or e-mail to establish the details of how and how frequently you would
be willing to provide input. AMM reports on more than 1,200 proprietary steel, scrap,
ferrous and nonferrous categories.

IT IS A VIOLATION OF AMM COPYRIGHT TO PHOTOCOPY/DISTRIBUTE THIS PRODUCT

Aluminum
Copper
Lead
Zinc

14,090
40,500
16,665
19,905

EXCHANGE RATES
Selling prices in US dollars at 11:00 am in NY, based on
Reuters quotes.
$ per
per $
Euro
1.1037
0.9061
Canada (dollar)
0.7498
1.3337
Japan (yen)
0.009524
105.0000
Britain (pound)
1.2376
0.8080
China (yuan)
0.1473
6.7874
Mexico (peso)
0.0542
18.4450
Russia (Ruble)
0.0157
63.6700
Switzerland (franc)
1.0249
0.9758
Australia (dollar)
0.7731
1.2936
South Africa (Rand)
0.0753
13.2750

DISCLAIMER
Important Please Read Carefully
This Disclaimer is in addition to our Terms and
Conditions as available on our website (click here)
and shall not supersede or otherwise affect these
Terms and Conditions.
Prices and other information contained in this
publication have been obtained by us from various
sources believed to be reliable. This information has
not been independently verified by us. Those prices
and price indices that are evaluated or calculated
by us represent an approximate evaluation of
current levels based upon dealings (if any) that
may have been disclosed prior to publication to us.
Such prices are collated through regular contact
with producers, traders, dealers, brokers and
purchasers although not all market segments may
be contacted prior to the evaluation, calculation,
or publication of any specific price or index. Actual
transaction prices will reflect quantities, grades and
qualities, credit terms, and many other parameters.
The prices are in no sense comparable to the quoted
prices of commodities in which a formal futures
market exists.
Evaluations or calculations of prices and
price indices by us are based upon certain market
assumptions and evaluation methodologies, and
may not conform to prices or information available
from third parties. There may be errors or defects
in such assumptions or methodologies that cause
resultant evaluations to be inappropriate for
use. Your use or reliance on any prices or other
information published by us is at your sole risk.
Neither we nor any of our providers of information
make any representations or warranties, express
or implied as to the accuracy, completeness or
reliability of any advice, opinion, statement or
other information forming any part of the published
information or its fitness or suitability for a
particular purpose or use. Neither we, nor any of
our officers, employees or representatives shall
be liable to any person for any losses or damages
incurred, suffered or arising as a result of use
or reliance on the prices or other information
contained in this publication, howsoever arising,
including but not limited to any direct, indirect,
consequential, punitive, incidental, special or
similar damage, losses or expenses.
We are not an investment advisor, a financial
advisor or a securities broker. The information
published has been prepared solely for
informational and educational purposes and is not
intended for trading purposes or to address your
particular requirements. The information provided
is not an offer to buy or sell or a solicitation of
an offer to buy or sell any security, commodity,
financial product, instrument or other investment
or to participate in any particular trading strategy.
Such information is intended to be available for
your general information and is not intended to
be relied upon by users in making (or refraining
from making) any specific investment or other
decisions. Your investment actions should be solely
based upon your own decisions and research and
appropriate independent advice should be obtained
from a suitably qualified independent advisor before
making any such decision.

AMM PAGE 19

AMM MARKET GUIDE

PRICES EFFECTIVE TUESDAY, NOVEMBER 8, 2016

PRECIOUS METALS
(all precious metal prices effective 11/08/16)
GOLD
(US$/troy ounce)
London A.M.

$1,284.00

London P.M.

$1,282.35

Handy and Harman (bullion base)

Handy and Harman (fabricated form)

$1,282.35
$1,423.409

Engelhard (bullion base)

$1,284.33

Engelhard (fabricated form)

$1,380.65

IRIDIUM
(US$/troy ounce)
Johnson Matthey

$675.00
PLATINUM
(US$/troy ounce)

Engelhard (unfab.)

$1,005.00

Engelhard (fab.)

$1,105.00

Johnson Matthey

$1,006.00
PALLADIUM
(US$/troy ounce)

Engelhard (unfab.)

$660.00

Engelhard (fab.)

$760.00

Johnson Matthey

$658.00
RUTHENIUM
(US$/troy ounce)

Johnson Matthey

$40.00
RHODIUM
(US$/troy ounce)

Johnson Matthey

$815.00
SILVER
(/troy ounce)

Engelhard (bullion base)

1,830.00

Engelhard (fabricated form)

2,196.00

Handy and Harman (bullion base)

1,840.50

Handy and Harman (fabricated form)

2,300.60

Heraeus Precious Metals

1,842.50

Metalor USA Refining

1,835.00

LBMA

1,826.00

FOOTNOTE

* Price is sourced from U.S. Department of Commerce

data compiled by the U.S. Geological Survey.

BASE METALS

MINOR METALS

ALUMINUM
LME(99.7%) unofficial prices
78.22
Spot(/lb)
3-month (/lb)
78.52
Midwest Premium (rev. 11/02/16)
6.75-7.25
AMM Free Market, /lb
84.96-85.46
6063 extrusion billet upcharge
9.50-10.50
Domestic producer estimated prices ($/lb)
C355.2
1.08
A356.2
1.03
6061 (extrusion hom.)
0.80-0.81
6063 (extrusion hom.)
0.88-0.89
SECONDARY ALUMINUM
AMM Free Market, /lb, delivered Midwest (rev. 11/07/16)
A380.1
82.00-83.00
319.1
86.00-88.00
356.1
89.00-91.00
A360.1
88.00-90.00
A413.1
88.00-90.00
COPPER
Premium (rev. 11/03/16)
5.25-5.75
AMM free market cathode, /lb
243.15-243.65
LEAD
Premium (rev. 10/10/16)
9.00-13.00
AMM free market price, /lb
102.99-106.99
MB battery premium, /tonne
90.00-120.00
NICKEL
Melting material
Premium (rev. 11/02/16)
15.00-20.00
AMM free market price, /lb
519.99-524.99
Plating material
Premium (rev. 11/02/16)
47.74-52.38
AMM free market price, /lb
552.73-557.37
TIN
Grade A premium (US$/tonne)
(rev. 10/10/16)
$550.00-$600.00
AMM free market price
$22,490.00-$22,540.00
US$/tonne
/lb
1,020.14-1,022.41
ZINC
Special high grade premium
(rev. 10/27/16)
6.00-7.00
AMM free market price, /lb
116.79-117.79
SHG average week ending
116.83
11/04/16
ZINC - DIE CASTING ALLOYS
(rev. 11/08/16)
Premium
Price, /lb
Nos. 3 and 7
17.00-19.00 127.79-129.79
No. 5
19.00-21.00 129.79-131.79
No. 2
21.00-23.00 131.79-133.79
Zinc-aluminum foundry alloys
No. 8
20.00-22.00 130.79-132.79
No. 12
22.00-24.00 132.79-134.79
No. 27
27.00-29.00 137.79-139.79

ANTIMONY
(rev. 11/04/16)
MB free market, US$/tonne
$7,500.00-$7,800.00
BISMUTH
(rev. 11/04/16)
MB free market, US$/lb
$4.50-$4.95
CADMIUM
(rev. 11/04/16)
MB free market
min 99.95%, /lb in warehouse
59.00-66.00
min 99.99%, /lb in warehouse
60.00-69.00
CHROMIUM METAL
(rev. 11/04/16)
MB free market, US$/tonne
$6,800.00-$7,100.00
COBALT
(rev. 11/04/16)
MB free market
High grade, US$/lb in warehouse
$13.00-$13.75
Low grade, US$/lb in warehouse
$12.85-$13.60
GERMANIUM
(rev. 11/04/16)
MB free market, US$/kg
$610.00-$710.00
INDIUM
(rev. 11/04/16)
MB free market, US$/kg
$200.00-$245.00
MAGNESIUM
MB Europe free market, US$/tonne
(rev. 11/04/16)
$2,350.00-$2,450.00
AMM free market (US), US$/lb
(rev. 11/01/16)
$1.93-$1.95
MERCURY
(rev. 10/28/16)
MB free market, US$/flask
$940.00-$1,250.00
SELENIUM
(rev. 11/04/16)
MB free market, US$/lb
$8.00-$9.50
SILICON METAL
(rev. 10/10/16)
AMM free market, /lb
88.00-92.00

TITANIUM
Estimated market prices in US$/lb, f.o.b. shipping point.
Sponge, imported for consumption, including tariff
Japan, rotor quality (rev. 11/01/16) *
$4.38
Ingot, 6AI-4V (rev. 11/01/16)
$8.00-$8.25
Plate, alloy, AMS 4911
1/2 inch x 48-in x 120-in
(rev. 11/01/16)
$25.00-$26.00
Bar, alloy, AMS 4928
1-in. dia. round
(rev. 11/01/16)
$19.00-$21.00
Plate, commercially pure,
ASTM-B265 Grade 2,
1/2-in x 96-in x 240-in
(rev. 11/01/16)
$10.75-$11.25
Sheet, commercially pure,
ASTM-B265 Grade 2,
1/8-in x 36-in x 96 in
(rev. 11/01/16)
$13.50-$14.00

FERROALLOYS
FERROCHROME
(rev. 11/03/16)
High carbon
AMM free market, /lb

94.00-100.00

Low carbon
AMM free market, /lb
0.05%C-65% min Cr

206.00-210.00

0.10%C-62% min Cr

177.00-183.00

0.15%C-60% min Cr

174.00-176.00

FERROMANGANESE
(rev. 11/03/16)
High carbon
AMM free market, US$/long ton

$870.00-$920.00

Medium carbon
AMM free market, /lb

81.00-83.00

Low carbon
AMM free market, /lb

90.00-93.00

SILICOMANGANESE
(rev. 11/03/16)
AMM free market, /lb

44.00-48.00

FERROSILICON
(rev. 11/03/16)
AMM free market, /lb

71.00-75.00

MOLYBDENUM
(rev. 11/03/16)
AMM free market
Canned molybdic oxide, US$/lb

$6.60-$6.80

FERROMOLYBDENUM
(rev. 11/03/16)
AMM free market, US$/lb

$7.85-$8.30

TUNGSTEN
(rev. 11/04/16)
MB free market, APT, US$/mtu

$198.00-$205.00

VANADIUM PENTOXIDE
(rev. 11/04/16)
MB free market,
min 98% V2O5, US$/lb

$4.50-$4.65

FERROVANADIUM
(rev. 11/03/16)
AMM free market, US$/lb

$10.15-$11.00

To become a price contributor

see Metal Exchanges page

Prices are subject to the disclaimer appearing on the Metal Exchanges page.

MANAGING DIRECTOR
Raju Daswani (646) 274-6257
rdaswani@amm.com
EDITORS
Jo Isenberg-OLoughlin executive editor
(646) 274-6230 jisenberg@amm.com
Thorsten Schier North American steel and
ferrous scrap editor
(646) 274-6240 tschier@amm.com
Tom Jennemann North American nonferrous and
nonferrous scrap editor
(973) 204-3383 tom.jennemann@fastmarkets.com
TEAM LEADER
Lisa Gordon scrap team leader
(412) 880-4992 lgordon@amm.com
NEWS TEAM
Michael Cowden correspondent, steel
(773) 643-1244 mcowden@amm.com
Nat Rudarakanchana pricing reporter
(212) 224-3944 nat.rudy@amm.com
Brad MacAulay reporter, nonferrous scrap
(412) 765-2585 brad.macaulay@amm.com
Grace Lavigne pricing reporter
(212) 224-3908 grace.lavigne@amm.com

NOVEMBER 9, 2016

Kirk Maltais reporter, aluminum

(212) 224-3907 kirk.maltais@amm.com
James Lawrence reporter, scrap
(724) 935-6235 james.lawrence@amm.com
Mei Ling Toh reporter
(646) 274-6246 mei.toh@amm.com
Christopher Kavanagh reporter, scrap
(212) 224-3918 christopher.kavanagh@amm.com
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(212) 224-3927 millicent.dent@amm.com
Dom Yanchunas reporter
(212) 224-3954 dom.yanchunas@amm.com
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(212) 224-3905 sara.kelly@amm.com
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(646) 274-6252 rkaranth@amm.com
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(646) 274-6215 aracely.lopez@amm.com
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