16-11-2016

WEDNESDAY, NOVEMBER 16, 2016 / VOLUME 124 / NUMBER 46-3 / ESTABLISHED 1882
Mobile port unfazed by rising

tide of Trump trade rhetoric
NEW YORK The port of Mobile,
Ala., is not overly worried about the
potential impact U.S. Presidentelect Donald Trump could have
on its steel trade flows in 2017, the
ports director told AMM.
Trumps talk on trade has
softened somewhat since Nov. 9,
as his tone has become more
conciliatory compared with his
campaign rhetoric, Alabama State
Port Authority director and chief
executive officer James K. Lyons
said in a Nov. 14 interview in
New York.
Prior to the election, I was a
little concerned that a new wave of
protectionism would set off a trade
No worries? Port director James K.

Lyons is more comfortable "cooler
head's may prevail" based on
shipping groups' private talks with
Trump administration insiders.
war, he said. But Lyons is more

comfortable now, he said, citing
private talks shipping groups have
had with Trump administration
insiders.
I think maybe cooler heads will
prevail as we go forward, Lyons
told AMM. There are a lot of jobs
generated in the United States by
companies that export. A lot of our
(steel) mills in Alabama do export
a good bit.
Through the port of Mobile,
companies as varied as
ArcelorMittal USA LLC, Steel
Dynamics Inc., South Koreas
Posco Ltd. and Outokumpu
Stainless USA LLC
PAGE 2
SeAH agrees to buy OMK Tube, Laguna Tubular

NEW YORK SeAH Steel Corp.
has agreed to acquire the OMK
Tube Inc. mill in Houston, as
well as the neighboring Laguna
Tubular Products Corp. finishing
facility, sources told AMM.
SeAH, which additionally has
been in advanced talks to buy
the nearby OCTG LLP threading
shop (amm.com, Oct. 19), is now
interested in acquiring U.S.
Steel Corp.s Tubular Processing
Houston Operations facility,

according to a source familiar
with the South Korean companys
plans. SeAH has approached U.S.
Steel, which is potentially willing
to sell, the source said.
The cluster of transactions
would give Seoul-based SeAH
an oil country tubular goods
(OCTG) production foothold in
the United States for the first time.
The company would qualify as
a U.S. producer just as the U.S.

Commerce Department prepares
to announce its final anti-dumping
determination on OCTG from
South Korea in February.
SeAH and Russias United
Metallurgical Co. (OMK) have
reached a sale agreement in
principal, and the transaction is
scheduled to become final this
month.
Laguna Tubular
PAGE 2
US mills raise steel

sheet prices $40/T
Steel distribution poles

wired for market growth
Steel centers destocking,

but eye higher prices
ArcelorMittal SA, U.S. Steel Corp.,

Nucor Corp. and AK Steel Corp.
have increased sheet prices
by a minimum $40 per ton ($2
per hundredweight) effective
immediately.
The potential for steel distribution

poles hinges on how North
American countries react to the
banning of a popular chemical
treatment for wooden poles by
the Stockholm Convention on
Persistent Organic Pollutants.
U.S. steel distributors shipments

and inventories dropped in October
compared with the same month last
year despite signs of improvement in
sequential demand momentum and
an emerging inflationary cycle.
PAGE 3
PAGE 4
METAL IS OUR SPECIALTY,

SERVICE IS OUR STRENGTH

IT IS A VIOLATION OF AMM COPYRIGHT TO PHOTOCOPY/DISTRIBUTE THIS PRODUCT
WWW.AMM.COM
STEEL
Import monitoring system should be
permanent: steel groups PAGE 3
Nucor, SDI raise beam tags by
$30/T
PAGE 3
Nucor hiking wire rod prices
$40/T Dec. 1
PAGE 4
NONFERROUS
Weak premiums cast shadow on
US copper market
PAGE 7
Lundin to exit Tenke coppercobalt mine in DRC
PAGE 7
Macquarie lifts copper price
forecasts after recent rally PAGE 7
Chilean copper output dips 1.7%
in Sept.
PAGE 8
SCRAP
Smelters aluminum scrap tags
up, mills grades dip
PAGE 9
RIRM seeks $500,000 in lawsuit
vs. Conway Marine
PAGE 9
Scrap Central buys Wendt wire
chopping system
PAGE 10
NUMBER OF THE DAY
7%
Decline in U.S. service centers

steel shipments, to 31.8 million
tons, in the first 10 months of this
year compared with the same
period last year.
PAGE 5
PAGE 5
www.rsac.com
NEWS
Mobile port unfazed

by rising tide of Trump
trade rhetoric
CONTINUED FROM PAGE 1
handle steel imports or exports
tied specifically to Mexico,
according to Lyons.
Chicago-based ArcelorMittals
joint-venture mill with Japans
Nippon Steel & Sumitomo Metal
Corp., AM/NS Calvert LLC, imports
some 600,000 tons of Mexican slab
per year via Mobile, while various
mills export steel hot band to
Mexico via the port, Lyons said.
An estimated 3.2 million tons of
slab per year flows through Mobile
toward the mill in Calvert, Ala.,
according to Lyons, including 2.6
million tons of Brazilian slab from
two Brazilian mills. The Mexican
slab is sourced from ArcelorMittals
Lazaro Cardenas facility, he said.
A spokeswoman for
ArcelorMittal USA didnt
immediately respond to AMMs
request for comment.
If the United States withdraws
from or renegotiates the North
American Free Trade Agreement
(Nafta), that could potentially
damage the ports business,
Lyons said. He backed the Nafta
agreement when it was first
drafted during then-President
Bill Clintons administration, and
attended White House briefings on
the matter.
But attempting to exit or edit the
trade agreement would likely be a
long and drawn-out process, even
if there is political backing to do so,
Lyons noted.
Scrapping a 20-plus-year-old
trade agreement cant be done with a
stroke of a pen, he said. Its a tough
pull, even if the will is there to do it.
Our trade with Mexico is a
two-way trade, he continued.
We ship a lot of goods to them,
they ship a lot of automobiles up
here. A lot of that steel in those
automobiles is coming from U.S.
mills, and a lot of it goes through
our port.
The port of Mobile handled
some 700,000 tons of steel
hot-rolled coil imports and exports
in its latest fiscal year 2016, with a
significant portion tied to Mexico,
Lyons said. Posco, for example,
rolls some steel in Mexico and
ships it through Mobile to a
stocking warehouse in Alabama,
then distributes that steel to U.S.
automotive facilities, Lyons said.
Representatives for Posco
NOVEMBER 16, 2016
did not immediately respond to

AMMs request for comment.
On top of that, the Mobile port
exports some 300,000 tons of
hot-rolled stainless steel to Mexico
from Bannockburn, Ill.-based
Outokumpus Alabama mill,
located about 35 miles north of
Mobile. The stainless steel is then
cold-rolled and processed at a
Mexican finishing mill, Lyons said.
Flows of Outokumpus
stainless hot-rolled steel do pass
through Mobile, an Outokumpu
spokeswoman confirmed via
e-mail Nov. 15, but she declined to
disclose specific volumes.
The port of Mobile now offers
a regular shipping service to
Coatzacoalcos, Mexico, with
vessels carrying up to 15,000 tons
every 10 days, Lyons noted.
Port executives are now
mulling upgrades to that service,
increasing the frequency to one
trip every five to seven days, as
the port looks to outcompete
traditional rail routes into Mexico,
Lyons said. But with Nafta in
question and the current political
climate, its unclear whether and
how the port might move forward
with that proposal, he said.
The American Association of
Port Authorities, an Alexandria,
Va.-based coalition of more than 130
public port authorities throughout
North and South America, has not
yet publicly commented on Trumps
presidential victory nor voiced
specific concerns, according to
Lyons and the associations website.
Still, the port authorities believe
fair and equitable trade boosts U.S.
economic growth and Americanmade exports, and estimated that
more than 2 billion tons of foreign
and domestic cargoworth a
combined $2.5 trillionflowed
through U.S. seaports in 2013.
The coalition also backed the
Trans-Pacific Partnership trade
deal in 2016, the associations
website shows.
The port authorities legislative
lobbying lately has been
focused on the Water Resources
Development Act and the Harbor
Maintenance Tax, with attention
paid to perennial topics like
dredging rather than Trumprelated concerns, Lyons said.
Steel is now the Mobile ports
second major line of business,
overtaking paper in recent
years thanks to the import slab
arrangement supplying the
5.3-million-tonne-per-year Calvert
steel operation, Lyons said.
The port has invested $55
million in steel-related port

infrastructure in the last three
years alone, port representatives
said. Mobile counts itself as the
second U.S. steel port by volume,
after Houston.
NAT RUDARAKANCHANA
NAT.RUDY@AMM.COM
SeAH agrees to buy

OMK Tube, Laguna
Tubular
who did not respond. OCTG LLP

owner David Siverling also did not
respond.
OMK Tube produced 2.375- to
7-inch outside diameter OCTG and
2- to 6-inch diameter line pipe at
the Houston mill, but production
is idled and employees were
recently performing only finishing
work (amm.com, July 29).
DOM YANCHUNAS
DOM.YANCHUNAS@AMM.COM
CONTINUED FROM PAGE 1

has notified customers that SeAH
will take formal possession of
the Laguna heat-treating and
hydrostatic-testing facility Nov. 30,
a second source told AMM. That
agreement was signed in early
November.
A U.S. Steel spokeswoman on
Nov. 15 declined to comment
on the Pittsburgh companys
plans for its Tubular Processing
Houston Operations, which
includes two heat-treat lines and
offers austenitizing, tempering,
upsetting and hydro testing. In a
document accompanying its thirdquarter earnings announcement,
U.S. Steel said it would consider
divestiture of tubular assets,
among other options. President
and chief executive officer Mario
Longhi said In July that there
would be no recovery this year for
the companys tubular segment,
which suffered widening losses
(amm.com, July 27).
The Commerce Departments
preliminary duties on OCTG from
South Korea were 3.8 percent to
8.04 percent, but mills are bracing
for a steep upward adjustment in
February after fellow South Korean
steelmaker Posco Ltd. was hit with
a 58.68-percent assessment on its
hot-rolled coil imports (amm.com,
Oct. 26).
The SeAH talks with OCTG LLP
are in the final stages, the first
source said. If SeAH does buy
that company, it would still be
interested in the U.S. Steel facility
because the companies work on
different types of goods. OCTG
LLP offers threading for casing
plus inspection, heat treatment
and hydro testing. The U.S. Steel
facility handles tubing.
Neither SeAH nor OMK
responded to AMMs requests
for comment. Laguna Tubular
Products sales manager Max
Patton referred questions to
company owner Eduardo Anaya,
PRICING AT A GLANCE
NYMEX
Copper
Hot-rolled coil
Gold
Platinum
Silver
250.20
$492.00
$1,224.00
$934.70
1,702.90
LME
Aluminum
$1,727.00
Copper
$5,448.00
Lead
$2,154.00
Nickel
$11,155.00
Zinc
$2,552.00
AMM PAGE 2
STEEL
US mills raise
steel sheet
prices $40/T
CHICAGO ArcelorMittal SA, U.S.
Steel Corp., Nucor Corp. and AK
Steel Corp. have increased sheet
prices by a minimum $40 per ton
($2 per hundredweight) effective
immediately.
Luxembourg-based
ArcelorMittal led the move,
followed by Pittsburgh-based U.S.
Steel, Charlotte, N.C.-based Nucor
and West Chester, Ohio-based AK
Steel, according to customer letters
dated Nov. 14 and 15.
New prices for hot-rolled coil are
$560 per ton ($28 per cwt), while
new base prices for cold-rolled coil
and coated materialincluding
hot-dipped galvanized and
Galvalume materialare now $780
per ton ($39 per cwt), ArcelorMittal
and U.S. Steel said.
U.S. Steel also increased its zinc
coating extras, the company said.
Nucor and AK Steel did not
provide new price levels but said
they were increasing base prices
for hot-rolled, cold-rolled and
galvanized product by at least $40
per ton.
The move comes just a week after
U.S. mills announced a $30-perton ($1.50-per-cwt) price increase
(amm.com, Nov. 7), meaning
domestic producers have raised
sheet prices by at least $100 per ton
($5 per cwt) in all over a period of
about three weeks (amm.com,
Oct. 24).
The rapid increase in prices
comes as ArcelorMittals lead
times have stretched into January
2017, the company said.
Mills had been expected to lift
prices as lead times moved into
the new year and on the back of
higher scrap and coking coal costs
(amm.com, Nov. 11).
Producers have recently been
telling customers to get orders in
quickly or that offered prices will
be good for only 24 hours, which
usually signals that additional
hikes are coming, sources said.
MICHAEL COWDEN
MCOWDEN@AMM.COM
NOVEMBER 16, 2016
Import monitoring
system should be
made permanent,
steel groups say
NEW YORK The U.S. Commerce
Departments Steel Import
Monitoring and Analysis (SIMA)
system should be made permanent,
instead of being subject to five-year
renewals, according to steel
industry associations.
Commerce proposed extending
the life of the SIMA program through
March 21, 2022, in an Oct. 13 U.S.
Federal Register notice.
But Washington-based industry
groups, including the American
Iron and Steel Institute (AISI)
and the Steel Manufacturers
Association (SMA), argue that the
program should be permanent.
Nine steel interest groups,
including the United Steelworkers
union, are behind the proposal.
The industry believes that five
years covers a significant span in
the ever-changing and dynamic
steel market, the groups wrote
in a Nov. 14 letter to Commerce
Secretary Penny Pritzker.
However, the industry continues
to strongly advocate for the creation
of a permanent SIMA program.
The program helps the U.S.
government and steel industry
monitor steel imports on a near
real-time basis, providing timely
and detailed data well in advance
of U.S. Census data, according to
the letter.
The system provides
transparency for all steel
stakeholders, from industry and
steelmakers to the government,
importers, traders and consumers.
It is especially critical given the
current global overcapacity in steel
that is fueling repeated surges
in steel imports into the United
States, the groups wrote.
SIMA allows all interested
parties access to steel import
statistics at the earliest possible
date, according to the letter. It has
been thoroughly demonstrated that,
even in times of relative economic
prosperity, there are dynamics in
steel import flows that must be
identified as early as possible.
SIMA provides import license
data, in advance of official and
finalized U.S. Census Bureau
data, according to the programs
website. It also collects data on U.S.
steel exports, as well as imports
and exports of select downstream

steel products.
Steel importers face no
significant burden in complying
with the SIMA system, which has
been active for the past 12 years
and which operated in a more
basic format prior to 2005, the
steel groups noted.
In August, Commerce launched
country-specific steel import and
export reports, in a tool dubbed
the Global Steel Trade Monitor.
That was part of a bid to provide
industry and government with
updated market intelligence
on global steel flows, Commerce
said then, citing problems such
as global excess capacity and
unfair trade (amm.com, Aug. 2).
NAT RUDARAKANCHANA
NAT.RUDY@AMM.COM
Nucor, SDI raise

wide-flange beam
tags by $30/T
NEW YORK Nucor Corp. and
Steel Dynamics Inc. (SDI) have
raised prices for wide flange
beams by $30 per ton ($1.50 per
hundredweight), according to
customer letters.
Charlotte, N.C.-based Nucors
hike, effective Nov. 15, covers
most wide flange and standard
beam products, according to a
Nov. 14 letter from its Berkeley
beams mill in South Carolina.
As always, we will continue
to monitor market conditions
continued
US raw steel output dips 1.4%, utilization at 66.6%

NEW YORK U.S. raw steel output
totaled an estimated 1,580,000 net
tons last week, down 1.4 percent
from 1,602,000 tons the previous
week, as mills operated at an
average capacity utilization rate of
66.6 percent.
In the corresponding week last
year, mills produced 1,500,000
tons at an average capacity
utilization rate of 62.7 percent,

according to the American Iron
and Steel Institute, Washington.
Mills have produced 76,707,000
tons so far this year at an average
capacity utilization rate of 71.2
percent, down 1.6 percent from
77,988,000 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
July 23
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
1,703
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
72.8
Week ended
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
Nov. 12
Year to date*
Year ago to date*
Net tons in
thousands
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
1,580
76,707
77,988
Capacity
utilization
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
66.6
71.2
70.9
*Reflects AISI adjustments.
STEEL PRODUCTION BY DISTRICTS

(in thousands of net tons)
Nov. 12
198
Nov. 5
193
Great Lakes
599
612
615
Midwest
154
154
152
Southern
560
570
546
Western
69
73
71
1,580
1,602
1,575
Northeast
Total
Oct. 29
191
Source: American Iron and Steel Institute.
continued
AMM PAGE 3
STEEL
and respond accordingly in
order to assure you of receiving
a competitively priced product,
Nucor said.
SDIs structural and rail division
followed with its own letter Nov. 15,
announcing higher prices for wide
flange beams specifically, effective
with new orders from Nov. 16.
Still, items such as standard
beams and channel products
may also be adjusted if necessary
to be in line with other domestic
producers, according to the Fort
Wayne, Ind.-based steelmaker,
which operates a mill in Columbia
City, Ind.
NAT RUDARAKANCHANA
NAT.RUDY@AMM.COM
Nucor hiking wire

rod product prices
$40/T Dec. 1
NEW YORK Nucor Corp. is
increasing all wire rod product
prices by $40 per ton ($2 per
hundredweight) effective with
Dec. 1 shipments, according to the
company.
As always, we will continue
to monitor the marketplace and
respond accordingly in order
to assure you of receiving a
competitively priced product, the
Charlotte, N.C.-based companys
South Carolina division, which
operates a rod mill in Darlington,
S.C., said in a Nov. 10 letter to
customers.
U.S. shredded scrap prices rose
$30 per gross ton in Chicago for
November (amm.com, Nov. 7).
NAT RUDARAKANCHANA
NAT.RUDY@AMM.COM
NOVEMBER 16, 2016
SUPPLY CHAIN
Mart for steel

distribution
poles poised
for growth
NEW YORK The potential for
steel distribution poles hinges on
how North American countries
react to the banning of a popular
chemical treatment for wooden
poles by the Stockholm Convention
on Persistent Organic Pollutants.
The Stockholm Convention,
a global environmental
treaty, banned the use of
pentachlorophenol for member
countries in May 2015, giving the
chemical a five-year phase-out
period. One of the most common
uses of the chemical was as a
preservative for wooden utility
poles.
While steel distribution poles
have already gained market
traction as a replacement for
wooden distribution poles, this
new development gives them even
greater potential, according to
American Galvanizers Association
(AGA) marketing director Melissa
Lindsley.
This is one of the best
opportunities for steel distribution
that weve had since this market
became a focus. A golden
opportunity, Lindsley told AMM,
adding that the development
also gives the zinc industry great
potential since the majority of steel
distribution poles are galvanized.
The two largest consumers
of wooden poles treated with
pentachlorophenol are Canada
and the United States, and the
chemical is processed in Mexico.
Although the United States
isnt a signatory member of
the Stockholm Convention, it
generally recognizes the rules.
Both Canada and Mexico are
signatory members.
If Mexico and Canada are
going to stop producing and
buying those poles, most likely
the plants (in the United States
that use the chemical) will stop
producing those poles and switch
to something else. It will probably
force the (United States) hand if
they werent going to go that way,
Lindsley said.
While the majority of all electric
transmission structures are steel,
the battleground for market share
is in the distribution, or under 69
kilovolts (kV), and subtransmission,

or 69 kV to 138 kV, pole markets,
according to Dan Snyder, director
of business development at the
American Iron and Steel Institute
and director of the Steel Market
Development Institute.
There are around 120 million
steel distribution poles in the
United States, and about 2 to 4
million are replaced each year,
Snyder told AMM. That leaves
the total market potential for
steel, specifically in the wood-tosteel conversion market, at an
estimated 1 million to 1.5 million
tonnes per year. Approximately
60 percent of that tonnage is for
distribution and 40 percent is for
subtransmission.
Well over 1 million steel
distribution poles have been
installed in an estimated 600 U.S.
electric utilities, or 20 percent of
the total, Snyder said.
With distribution and
subtransmission poles ranging
in size from 500 to 1,500 pounds,
the amount of galvanized zinc on
each pole is approximately 17.5
to 52.5 pounds. That means that
approximately 17.5 million to 52.5
million pounds of zinc have been
used so far on steel distribution
poles, with the potential of
doubling each year.
While steel isnt the only
alternativeconcrete poles are
also an option, and wooden poles
can be treated with a different
chemicalit does offer certain
advantages.
One major benefit of steel is its
reliability compared with wood,
according to Snyder. Steel poles
reduce the risk of a catastrophic
system failure, in which a single
downed pole affects the entire
distribution system.
This is especially true in
remote locations where access
is difficult and in areas prone
to extreme weather or pests,
such as high winds, ice storms,
fire or excessive woodpecker
populations, Snyder said.
Another benefit of steel is that
its non-toxic and completely
recyclable, according to Snyder.
While it takes an entire tree to
produce a wood pole, one scrapped
automobile may produce more
than four distribution poles.
Steel also offers a number
of economic benefits, since it
requires minimal maintenance
and is at least 30 percent lighter
than wood, which can reduce the
cost of transportation, handling
and construction, Snyder said.
However, one disadvantage that

electric utilities commonly cite is
cost, Lindsley said. For poles that
are at least 40 feet long, the cost of
different materials is competitive.
But for poles under 40 feet, steel is
generally more expensive.
But while the cost can be
prohibitive, its important to look
at the life cycle cost, Lindsley said.
In the long run, (steel) will be
more economical because it will
last longer and wont require as
much maintenance.
Another limitation is that people
are used to wooden poles and are
resistant to change, according to
Lindsley. Thats what theyve
always had. Theyre used to how it
works. So when you introduce steel
poles, its a lot different, she said
The AGA has formed a task force
to inform people about the benefits
of steel poles, encourage them to
take the life cycle cost into account
and reassure them that switching
to steel poles doesnt have to be an
all or nothing scenario. Not all poles
need to be changed at once, and the
conversion process can go at ones
comfort level, Lindsley said.
Although Lindsley couldnt say
how long it will take for wooden
poles to be replaced by steel ones,
considering the time it would take
to educate people and convince
them to convert, the market
presents a lot of potential. Where
its going and how much potential
is hard to say, but its a good
opportunity for galvanized steel.
MILLICENT DENT
MILLICENT.DENT@AMM.COM
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AMM PAGE 4
SUPPLY CHAIN
NEW YORK U.S. steel distributors

shipments and inventories dropped
in October compared with the same
month last year despite signs of
improvement in sequential demand
momentum and an emerging
inflationary cycle.
Demand was mostly subdued in
October after logging a slight pickup
in September, according to Marc
Bokas, chief operating officer of
Contractors Steel Co.
However, the Livonia, Mich.-based
company increased its inventory
levels significantly in October in
anticipation of higher scrap prices
(amm.com, Nov. 3), and following
significant destocking earlier in
the year, Bokas said, noting that
Contractors Steel also doesnt face
typical year-end inventory taxes like
some other steel service centers.
Weve bought heavily over the
past four weeks, he told AMM.
Scrap and low inventories have
U.S. hot-rolled sheet prices jumped

last week on the heels of a second
round of mill price hikes (amm.com,
Nov. 11).
Meanwhile, year-on-year declines
in distributor shipments of flat-rolled
sheet, plate, bar, structural, and
pipe and tube products were only
marginally offset by stronger
stainless shipments in October,
analysts from New York-based
Jefferies LLC wrote in a Nov. 15
research note.
U.S. service centers steel
shipments for the first 10 months
of the year dipped 7 percent to 31.8
million tons from 34.2 million tons in
the same 2015 period.
Service centers steel inventories
totaled 7.28 million tons (2.4 months
supply at current shipping rates) at
the end of October, down 18.4 percent
than 8.92 million tons (2.7 months
supply) in October 2015. Inventories
have been falling on a year-on-year
basis since September 2015, when
they dropped 1.6 percent to 9.19
million tons.
The October inventory tally
also was 4.4-percent below the 7.61
million tons (2.5 months supply)
held last month, continuing the
destocking trend that began

in September, according to the
Jefferies analysts.
While the demand environment
remains lackluster in our view,
increasingly lean distributor
inventories are likely supportive of
rising steel prices near term, the
Jefferies analysts said. A restocking
cycle may emerge in the coming
months, aiding pricing and domestic
mill shipments and utilizations
heading into early 2017, they added.
We believe customer purchasing
likely improved during the latter
stages of October amid signs of
bottoming U.S. ferrous scrap prices
and exhaustion in the mini hot-rolled
coil downcycle (lasted 20 weeks),
analysts at Cleveland-based KeyBanc
Capital Markets Inc. wrote in a Nov. 15
research note.
Upside to scrap prices and some
modest lengthening of (electric-arc
furnace) lead times will likely offer
upward near-term bias to U.S. sheet
pricing for the remainder of the year.
GRACE LAVIGNE
GRACE.LAVIGNE@AMM.COM
US SERVICE CENTERS STEEL SHIPMENTS VS. INVENTORIES
US SERVICE CENTERS ALUMINUM SHIPMENTS VS. INVENTORIES
(in thousands of tons)
500
SOURCE: COMPILED BY AMM USING DATA FROM THE METALS SERVICE CENTER INSTITUTE.
. 16
AU
G
16
JU
LY
1
JU
NE
16
MA
Y 1
RIL
AP
RC
16
FE
B.
16
MA
. 16
JA
N
OC
T.
15
OC
T.
16
. 16
AU
G
JU
LY
1
JU
NE
MA
Y 1
16
RIL
AP
RC
H
MA
JA
N
SE
PT
. 16
0
6
16
100
2,000
16
200
FE
B.
16
4,000
. 16
300
DE
C.
15
6,000
NO
V.
15
400
OC
T.
15
8,000
shipments
inventories
DE
C.
15
shipments
inventories
NO
V.
15
10,000
OC
T.
16
supported that.
While demand in November and
December will likely be seasonally
weak, Contractors Steels higher
inventory levels will help prepare the
steel service center for the beginning
of next year, when market dynamics
should be better, Bokas said.
Theres been decent momentum
on the (steel) mills side, he said. At
least on a short-term basisthree to
four monthsit looks like (market
dynamics) should be good in terms of
making some additional gains.
Wixom, Mich.-based Grand
Steel Products Inc. also recently
increased its inventories, according
to company president Jim Barnett.
Our sales have not been flat;
theyve been up this year in tons and
dollars, he told AMM.
Grand Steel Products can be
subject to paying year-end inventory
taxes, but only if it has steel in
locations where those taxes apply,
Barnett noted.
We have to be aware of (year-end
inventory taxes), and we are, he
said. But if product prices go up 15
percent in 45 days like they just have,
then that tax is well worth paying,
he added.
SE
PT
. 16
Steel centers
destocking, but
eye higher prices
CANADIAN SERVICE CENTERS STEEL SHIPMENTS VS. INVENTORIES
CANADIAN SERVICE CENTERS ALUMINUM SHIPMENTS VS. INVENTORIES
1,500
shipments
inventories
35
shipments
inventories
30
1,200
25
900
20
15
600
10
300
NOVEMBER 16, 2016
OC
T.
16
SE
PT
. 16
. 16
AU
G
16
LY
1
JU
NE
JU
MA
Y 1
6
16
AP
RIL
16
H
RC
MA
FE
B.
16
. 16
JA
N
DE
C.
15
NO
V.
15
OC
T.
16
16
SE
PT
. 16
AU
G.
16
JU
LY
1
JU
NE
16
MA
Y 1
AP
RIL
16
FE
B.
16
RC
H
MA
. 16
JA
N
DE
C.
15
NO
V.
15
OC
T.
15
OC
T.
15
continued
AMM PAGE 5
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continued
NOVEMBER 16, 2016
AMM PAGE 6
NONFERROUS
Weaker
premiums
cast shadow
on US copper
market
CHICAGO Copper market
participants are en route to Florida
to complete annual contract
premium talks for 2017, but initial
comments suggest that traders
face a difficult 2017.
The U.S. mating season kicks
into high gear at the American
Copper Council meeting that
begins Nov. 15 in Naples, Fla.
One of the biggest questions
facing the industry is the price
at which Chilean producer
Corporacin Nacional del Cobre
de Chile (Codelco) settles on a cost,
insurance and freight (c.i.f.) basis
to Panama City in the state.
The mining giant has offered
copper at a premium of 2.5 cents
per pound to Carrollton, Ga.-based
Southwire Co. LLC, which would
roughly translate to a U.S. Midwest
premium of 5 to 6 cents per pound.
This is down from 3 cents
negotiated for 2016 and is in line
with the Midwest spot copper
premium of 5.25 to 5.75 cents per
pound.
Crucially, the United States no
longer has a single benchmark
price. Codelco has not published
an official premium number
since 2008, and other producers,
such as Phoenix-based FreeportMcMoRan Inc. and Baar,
Switzerland-based Glencore Plc,
now hold just as much sway over
regional pricing dynamics. Still,
the Codelco premium is still widely
used as shorthand for the broader
U.S. marketplace.
The big questions are where
the final price delivered into the
Gulf Coast is settled and what
producers will charge for rod, a

producer source said, confirming
Codelcos offer to Southwire of 2.5
cents per pound and predicting
that it would offer at 3 cents to all of
its other customers.
For traders, though, those
premium levels make it very
difficult to generate any profitsit
is at the lower bound of feasibility
when factoring in logistics and
transportation costs.
Throughout the mating season,
investors have been concerned
that the Chinese economy is
failing to maintain its rate of
consumption of copper despite
gross domestic product growth of
around 6.5 to 7 percent. Codelcos
decision to cut its cathode
premium to Chinese customers
by 27 percent, to $72 per tonne for
Shanghai delivery, has hardened
those fears.
The premium is down from $98
per tonne in 2016 and is in line
with forecasts. Market participants
had lowered their expectations
to a range of $70 to $75 per tonne
after Codelco cut its premium to
European customers by 11 percent
to $82 per tonne in late October.
Its a pretty low number for
Codelco to offer. I think they will
have a good sales year, (which is
why they are) being reasonable on
the annual premium, a Shanghaibased trader said.
The Chinese economic
picture could deteriorate if the
government intervenes in the
white-hot property market.
The government has injected
a historic level of stimulus to
stabilize growth and ensure a
steady transition away from a
state-directed economy to one
supported by consumption.
Another influential factor
has been the bitterly fought U.S.
presidential election between
Donald Trump and Hillary
Clinton. In a major upset, Trump
won the contest, triggering
volatility across global markets.
Trump has called for
renegotiating trade deals, placing
MARKET PRICES
Prices are in cents per pound except as otherwise noted.
AMM Free Market
November 15
Revised
Prior Price
Copper cathode
255.45-255.95
11/15/16
257.10-257.60
Zinc
121.69-122.69
11/15/16
121.10-122.10
85.58-85.78
11/15/16
86.57-86.77
520.67-525.67
11/15/16
519.76-524.76
Aluminum
Nickel, melting
Comex copper settlement
250.20
11/15/16
251.85
No. 2 copper scrap
223.00*
11/15/16
224.00*
Silver, Handy and Harman (/troy oz)
1,706.50
11/15/16
1,686.00
* Nominal for spot sales
NOVEMBER 16, 2016
tariffs on foreign imports

especially those from China
and Mexicoand bringing
manufacturing jobs back to the
Midwest.
But copper has surged to prices
not seen since summer of 2015
on hopes that Trumps promise
to spend massively to overhaul
the crumbling U.S. infrastructure
could boost demand for metals.
In the interim, most copper
supply deals are likely to be
completed over the next few weeks
before market participants wind
down for the Christmas season.
DALTON BARKER
NEWSROOM@AMM.COM
A version of this article was
first published by AMM sister
publication FastMarkets.
Lundin to exit
Tenke coppercobalt mine
NEW YORK Lundin Mining Corp.
will exit the Tenke Fungurume
Mine in the Democratic Republic
of the Congo (DRC) after agreeing
to sell its stake to Chinese private
equity firm BHR Partners.
Toronto-based Lundin will
receive at least $1.136 billion in
cash for its 30-percent interest
in TF Holdings Ltd., a Bermudabased holding company that owns
an 80-percent interest in Tenke
Fungurume Mining SA.
The decision to sell our
minority interest in Tenke has
been arrived at following a careful
and lengthy consideration of
all options open to us, Lundin
president and chief executive
officer Paul Conibear said in a Nov.
15 statement. It was a difficult
decision, respecting the 20 years of
Lundin involvement in Tenke, and
the special nature of this worldclass asset.
Lundins decision to exit the
copper-cobalt mine comes in the
wake of a dispute over FreeportMcMoran Inc.s planned departure
from Tenke. The Phoenix-based
mining company faces challenges
from DRC state-owned miner
Gcamines SA over its previous
agreement to sell its 70-percent
indirect stake in TF Holdings to
China Molybdenum Co. (amm.com,
Nov. 7).
China Molybdenum Co. agreed
to purchase the interest in Tenke in
May for $2.56 billion in cash as well
as the potential for an additional
consideration of up to $120 million

in a deal that set the framework for
Lundins sales agreement.
Lundin was granted the right of
first offer for Freeports stake in TF
Holdings (amm.com, Oct. 20) but
has waived the right as part of its
transaction with BHR Partners.
Lundins transaction is set
to close in the first half of 2017.
Lundin will also be entitled to an
additional consideration of up
to $51.4 million if certain price
targets are met for copper and
cobalt during a two-year period
beginning Jan. 1, 2018.
The transaction is subject
certain regulatory approvals and
closing conditions as well as the
completion of Freeports sale of its
interest in TF Holdings to China
Molybdenum.
The sale will enable Lundin
Mining to advance its strategy to
incrementally grow the company
with projects and operations
we control, while maintaining a
strong balance sheet, Conibear
said in the statement.
Tenke Fungurume produced
467 million pounds (211,827
tonnes) of copper and 35 million
pounds (15,876 tonnes) of cobalt in
2015, according to Freeport.
CHRIS KAVANAGH
CHRISTOPHER.KAVANAGH@AMM.COM
Macquarie lifts
copper price
forecasts after
recent rally
LONDON Macquarie Research,
a division of Macquarie Capital
Ltd., has increased its copper price
forecasts between now and 2018 by
up to about 17 percent, reflecting
the metals new elevated trading
range, the group said in a note.
The London Metal Exchanges
three-month copper contract
recently surged to its highest level
since June 2015, hitting $5,910 per
tonne Nov. 11, spiking 19.2 percent
from $4,958 per tonne a week earlier.
And while the red metal has
since drifted lower, with the LME
contract closing at $5,441 per tonne
Nov. 15, copper remains above its
recent low ranges.
This is unprecedented in recent
copper history, even in the other
direction. And having broken new
ground, despite the later selloff,
we cannot see the price retracing
continued
AMM PAGE 7
NONFERROUS
to pre-November levels easily on
fundamentals, Macquarie said.
The Sydney-based group lifted
its fourth-quarter average price
expectation to $5,180 per tonne,
substantially higher than its
previous forecast of $4,600.
Macquarie now forecasts an
average copper price of $2.43
per pound ($5,350 per tonne) in
2017, up from $2.07 previously,
and raised its 2018 average price
forecast to $2.31 per pound ($5,100
per tonne) from $2 per pound
previously.
The outlook for the copper
market has improved significantly
in recent weeks, in large part due
to a weak set of third-quarter
production results from a host
of operations and the attendant
reduction in 2017 consensus
volume forecasts, Macquarie said.
Moreover, (Donald) Trumps
presidential win has buoyed
expectations for an infrastructure
push in the (United States), leaving
the market to speculate on the
potential demand implications for
commodities, it added.
But increased demand for
commodities from such a program

is unlikely to show up before
2018, Macquarie noted. In the
interim, though, copper could
benefit from an asset allocation
shift in anticipation of an eventual
infrastructure push.
KATHLEEN RETOURNE
NEWSROOM@AMM.COM
publication FastMarkets.
Chilean copper
output dips 1.7%
in September
SO PAULO Chiles copper
mine production fell 1.7 percent
year on year to 459,700 tonnes
in September, according to data
from national copper commission
Cochilco.
Copper concentrates accounted
for 322,300 tonnes of production
during the month, with solvent
extraction-electrowinning
(SX-EW) cathodes comprising the
remaining 137,400 tonnes.
Production from state-owned
miner Corporacion Nacional
del Cobre de Chile (Codelco)
slipped 1.1 percent year on year
in September to 158,800 tonnes,
Cochilco said.
Likewise, Santiago, Chilebased Antofagasta Minerals SAs
Los Pelambres Mine logged a
5.8-percent year-on-year drop to
31,100 tonnes during the month.
Meanwhile, production at BHP
Billitons Escondida Mine grew

2.5 percent to 77,000 tonnes in the
same comparison.
Chiles copper mine production
for the first nine months of the year
declined 3.9 percent year on year to
4.12 million tonnes.
Cochilco said recently that
it expects Chiles full-year 2016
copper production to reach 5.4
million tonnes.
DANIELLE ASSALVE
NEWSROOM@AMM.COM
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continued
NOVEMBER 16, 2016
AMM PAGE 8
SCRAP
Smelters
aluminum
scrap tags up,
mills grades
dip on LME
PITTSBURGH U.S. aluminum
scrap markets were mixed as
declines on the London Metal
Exchange weighed on mill-grade
prices, while some smelter-grades
inched higher amid reports of
tighter scrap availability.
We are at mid-month and the
offers for old sheet and cast are
not coming in from scrapyards.
December looks to (be) a tough
month to buy scrap. ... The
spreads between scrap and
ingot have narrowed ... with no
movement on 380 (prices), one
consumer source said.
Difficulty procuring metal
prompted some consumers to
lift scrap bids in an effort to boost
inbound scrap flows.
Smelters mixed-low copper
clips, old sheet, old cast, mixedgrade turnings and aluminumcopper radiators all logged 1-cent
increases, while painted siding
and used beverage cans gained a
penny on the high side, according
to AMMs latest assessment.

There seems to be reasonably
good demand for (aluminumcopper radiators), one supplier
source said, noting that strong
Comex copper prices have added to
the upward momentum (amm.com,
Nov. 10).
However, other consumers cited
relatively low secondary aluminum
alloy prices and year-end inventory
management as grounds to resist
any price increase.
No changes with our scrap
prices. ... Better ingot prices
would certainly help, a second
consumer said.
Secondary aluminum alloy
prices remained unchanged after
some prices inched higher last
week (amm.com, Nov. 11). Steep
terminal market gains had helped
boost mill-grade scrap prices, but
not all products moved in lockstep
with those increases due to reduced
demand ahead of year-end.
Meanwhile, lower London Metal
Exchange aluminum prices took
some steam out of mill-grade scrap
tags this week. Prices for 5052 and
3105 segregated low-copper alloy
clips as well as mixed low-copper
alloy clips shed a penny on the upper
end of the range, while painted
siding remained unchanged.
After the run-up last week
(ended Nov. 11), we are back to
normal (and) currently in the same
price range as last week, a second
supplier said Nov. 14.
SECONDARY ALUMINUM PRICES

(cents per pound, delivered to Midwest)
Secondary Smelters Scrap*
11/14/2016
11/10/2016
Mixed low-copper clips
57-60
56-59
Mixed high-copper clips
55-58
55-58
Mixed high-zinc clips
51-54
51-54
1-1-3 sows
58-60
58-60
Painted siding
55-58
55-57
Mixed clips
54-56
54-56
Old sheet
54-56
53-55
Old cast
56-58
55-57
Turnings, clean and dry (high grade)
54-56
54-56
Turnings, clean and dry (mixed grade)
50-52
49-51
109-114
108-113
58-60
58-60
Aluminum-copper radiators
Nonferrous auto shred (twitch)
Used beverage cans
67-69
67-68
11/14/2016
11/10/2016
Segregated low-copper alloy clips (5052)
75-77
75-78
Segregated low-copper alloy clips (3105)
69-71
69-72
Mixed low-copper alloy clips
65-67
65-68
Painted siding
63-65
Mills, Specialty Consumers Scrap*
*Buying price
NOVEMBER 16, 2016
63-65
Source: AMM.
The LMEs three-month

aluminum contract closed the
official session at $1,721.50 per
tonne (78.1 cents per pound)
Nov. 15, down 1.9 percent from
$1,754.50 per tonne (79.6 cents
per pound) a day earlier and off
2.9 percent from $1,773 per tonne
(80.4 cents per pound) Nov. 10.
BRAD MACAULAY
BMACAULAY@AMM.COM
RIRM seeks
$500,000
in lawsuit vs.
Conway Marine
NEW YORK Rhode Island
Recycled Metals LLC (RIRM) is
seeking $500,000 in damages from
Conway Marine Construction Inc.
for allegedly failing to remove
or pay storage fees and rent for a
marine vessel purchased during a
public auction, according to court
documents.
However, the buyer claims it
cant access the vessel.
We bought a vessel from a
secured creditor auction last
December. We want to move it out
and use it, but we cant because
the vessel is blocked by other
vessels, Jeffrey Brenner, a partner
at Boston-based Nixon Peabody
LLP and legal counsel for Conway
Marine, told AMM.
Conway Marine had purchased
an Apache crane and barge
one of multiple marine vessels
moored at RIRMs facility on the
Providence River that the recycler
was meant to dismantleduring a
public asset auction last December
(amm.com, Dec. 8).
The other vessels arent things
that we can control. We paid for
(the Apache) already and we want
to move it. As soon as the path is
clear, we will do so, Brenner said.
The Providence, R.I.-based
recycler declined to comment.
RIRM has accused the
Melville, N.Y.-based marine
construction company of breach
of contract, unjust enrichment
and gross negligence, among other
allegations, according to an Oct.
19 complaint filed in U.S. Superior
Court in Providence/Bristol County.
The case has since been removed to
a U.S. District Court in Rhode Island,
according to a Nov. 10 notice.
According to RIRMs complaint,
the vessel was required to be
removed by the end of last year.
Defendants neglected to
address the issue timely and follow
through with (their) obligation to
remove the Apache from (RIRMs)
property by Dec. 31, 2015. RIRM
was forced to expend considerable
time, money and other valuable
resources by defendants
neglecting the Apache barge,
according to the filing.
RIRM reportedly notified
Conway Marine about the need
to comply with an order from the
U.S. Coast Guard, and Conway
owner Joshua Cahill visited
RIRMs facility to assess options,
according to the complaint.
However, around Jan. 13 the
Apache barge started to lean,
threatening the water line
and prompting the city to take
emergency action (amm.com, Jan.
19).
The city subsequently filed
a motion for contribution,
demanding $91,570 from RIRM
and landlord AARE LLC in relation
to the vessel. RIRM claims that
charge was directly caused by
Conway Marines negligence,
according to the filing.
RIRM has been embroiled in
environmental disputes with city
and state authorities for several
years, leading to a remediation
lawsuit by the Department of
Environmental Management and
the Attorney Generals Office.
The Rhode Island Superior Court
ordered a special attorney to
oversee cleanup of the site in July
(amm.com, July 29).
MEI LING TOH
MEI.TOH@AMM.COM
AMM PAGE 9
SCRAP
Scrap Central buys Wendt compact wire chopping system

business in 2011 when her mother
passed, had visited France to
view the system in practice before
making the purchase.
It is an ideal solution for yards
that do not have much space, she
said.
Scrap Central operates on a sevenacre former concrete facility after
relocating from its smaller previous
site two years ago (amm.com, Dec. 13,
2013). Since its move, the recyclers
insulated copper and aluminum
wire volume has steadily increased,
driving the need for a processing
system in addition to its balers.
The purchase of the cable box
will allow the company to keep
up with those increased volumes,
streamline their operation and
minimize labor hours currently
used to sort and bale wire. The
system will also expand their

processing capabilities to
include a much broader range of
materials, Wendt said.
Scrap Central will process
insulated No. 1 and No. 2 copper
wire, neoprene, aluminum
conductor steel-reinforced wire
and auto shredder residue wire
from its customers and commercial
accounts. The recycler also intends
to expand its buying potential to
other scrapyards in the area.
We look forward to growing
relationships with companies
generating large volumes of
insulated wires in need of
processing and hoping to increase
their bottom lines, Jones said in
the statement.
MEI LING TOH
MEI.TOH@AMM.COM
Credit: Wendt Corporation
NEW YORK Scrap Central Inc.

has purchased a compact wire
chopping system from Wendt Corp.,
becoming the first recycler to own
the technology in the United States,
according to the manufacturer.
Buffalo, N.Y.-based Wendt
described the MTB Cable Box as
a containerized, turnkey system
aimed at increasing the processing
volume of nonferrous materials.
Omaha, Neb.-based Scrap
Central is investing more than $1
million in the system, which will
be installed and commissioned by
year-end, owner Jennifer Jones
told AMM.
We are very excited about this. I
think this is going to revolutionize
wire chopping and it will provide
a great opportunity for a young
company like us to tap into the wire
chopping market, she said.
The technology features a
shredder, granulators, air density
tables, screens and magnetic
separators, as well as integrated
electric controls and a dust
collection systemall engineered
to fit into one 20-foot by 20-foot
and two 20-foot by 40-foot
reinforced, customized containers.
We thought the revolutionary
design and unique self-contained
cable box was a good fit for our
operation since we dont have
excess warehouse space to house a
conventional wire processing line.
We also were impressed with the
production capabilities and the
diversity of materials the Cable
Box can process, Jones said in a
Nov. 14 statement.
Jones, a second-generation
scrapyard owner who took over the
WEEKLY SCRAP COMPOSITE PRICES

Averages calculated each Friday, based
on data effective from the previous Friday
to Thursday. Prices are in US$/gross ton.
The right fit. Omaha, Neb.-based Scrap Central is investing more than $1
million in the containerized, turnkey system, which is keyed to increase the
processing volume of nonferrous metals. "I think this is going to revolutionize
wire chopping," Scrap Central owner Jennifer Jones (center) said.
AMM A380 INGOT/SCRAP ALUMINUM PRICES

(cents per pound)
100
UPDATED: NOVEMBER 11, 2016
82.50
80
66.60
70
11/11/16
Prior Wk
Year Ago
Alabama
$208.00
$190.00
$178.00
Chicago
216.00
198.00
180.00
Philadelphia
213.80
185.00
160.00
Pittsburgh
234.20
207.00
180.00
Composite
$218.00
$195.00
$174.50
11/11/16
Prior Wk
Year Ago
$223.00
$205.00
$190.00
Cleveland
234.00
210.00
190.00
Pittsburgh
230.00
202.00
182.00
Composite
$229.00
$205.67
$187.33
11/11/16
Prior Wk
Year Ago
$195.00
$180.00
$160.00
Philadelphia
185.00
161.00
145.00
Pittsburgh
217.60
188.00
152.00
Composite
$199.20
$176.33
$152.33
NO. 1 BUSHELING
Chicago
NO. 1 HEAVY MELT
60
calculation date
57.20
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 16, 2016
calculation date
calculation date
90
40
SHREDDED SCRAP
continued
AMM PAGE 10
November 17-18, 2016

Hilton Rosemont/Chicago O'Hare
Chicago, USA
Key speakers include:
David Stickler, CEO, Big River Steel

Lourenco Goncalves, President and CEO, Cliffs Natural Resources
Peter Marcus, Managing Partner, World Steel Dynamics
Hank Wilson, Senior Vice President, NA Trading, TMS International
Tamara Lundgren, CEO, Schnitzer Steel
Ryan Thrasher, Director of Mexico Operations, OmniSource
Dan North, Chief Economist North America, Euler Hermes
Stanley Davis, Manager Scrap Procurement, Steel Dynamics
Dean Kanelos, Market Development & Product Applications Manager, Nucor Automotive
Herbert Black, President and CEO, American Iron and Metal
Rob Thompson, VP Metallics Raw Materials, Gerdau
Gold Sponsor
Silver Sponsor
continued
NOVEMBER 16, 2016
IT IS A VIOLATION OF AMM COPYRIGHT

TO PHOTOCOPY/DISTRIBUTE THIS PRODUCT
amm.com/events/scrap
marketing@amm.com
+1 212 901 3828AMM PAGE 11
AMM STEEL PRICES

PRICES EFFECTIVE TUESDAY, NOVEMBER 15, 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
$25.00
Wire rod (low carbon)
$404-$417
Cold-rolled (Class I)
$36.00
Merchant bar
$530-$550
Hot-dipped galvanized (base price)
$36.50
Beams
$480-$520
Hot-dipped galvanized*
$40.50
Reinforcing bar, Grade 60, No. 5
Hot-rolled coil
$440-$460
Plate
$465-$480
Galvalume
$37.50
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
$42.50
Aluminized (Type 1)
$41.50
3 x 3 x 1/4" angle
$30.50
Motor lamination
$39.00
$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
$535-$545
(rev. 11/11/16)
China export galvanized coil
$605-$615
(rev. 11/11/16)
China export wire rod
$410-$415
(rev. 11/11/16)
Turkey export rebar
$430-$450
(rev. 11/10/16)
Turkey export wire rod
$450-$460
(rev. 11/10/16)
CIS export hot-rolled coil
$460-$470
(rev. 11/14/16)
CIS export cold-rolled coil
$540-$541
(rev. 11/14/16)
India export galvanized coil
$730-$740
(rev. 11/11/16)
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
$24.00
Coiled
$22.75
STRIP MILL PLATE
48-inches
$25.00
60-inches
$25.50
72-inches
$25.75
ALLOY PLATE
8 x 11.5 channels
$29.75
1/2 x 4" flat
$30.25
COLD-FINISHED
$44.50
1" round, 12L14 (carbon)
$53.00
1" round, 4140 (alloy)
$64.00
(special bar quality)

1" round, 1000 series (carbon)
$30.00
1" round, 4100 series (alloy)
$36.00
ROD
Mesh quality low carbon
$21.00-$22.00
Industrial quality low carbon
$22.00-$23.00
PIPE AND TUBE
High carbon
$24.00-$25.50
Market prices in US$/short ton.

Domestic
Cold-heading quality
National mills
$40.50
$28.00
OCTG J55 casing
$820
Line pipe X52
$840
Standard pipe A53 Grade B
$820
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
$800.00-$840.00
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
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 16, 2016
AMM PAGE 12
AMM NONFERROUS SCRAP PRICES

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
180-190
167-177
157-167
156-166
121-131
......
124-134
105-115
84-94
124-134
114-124
130-140
117-127
156-166
......
131-141
131-141
76-86
196-206
179-189
159-169
163-173
108-118
121-131
126-136
119-129
81-91
126-136
116-126
127-137
134-144
158-168
......
128-138
133-143
83-93
Chicago Cincinnati Cleveland
Detroit
Houston
L.A.
N.Y.
Philly
Pburgh
S.F.
St. Louis
Montreal
Toronto
191-201
177-192
157-167
161-171
121-131
114-124
134-144
112-122
89-99
124-134
119-129
125-135
121-131
145-155
135-145
130-140
135-145
90-100
186-201
177-192
162-177
159-169
139-149
122-132
142-152
113-123
92-102
122-132
122-132
143-153
120-130
144-154
154-159
129-139
124-134
84-94
192-202
178-188
161-171
148-153
118-128
124-134
134-144
120-130
101-111
137-147
129-139
150-160
120-130
161-171
156-166
136-146
146-156
91-101
199-209
186-196
160-170
175-185
136-146
124-134
149-159
142-152
104-114
132-142
139-149
145-155
149-159
161-171
151-161
141-151
136-146
86-96
179-194
165-180
155-170
155-165
136-146
119-129
134-144
117-127
79-89
129-139
129-139
130-140
120-130
156-166
......
126-136
136-146
76-86
188-198
174-189
154-169
147-157
137-147
120-130
130-140
123-133
70-80
125-135
125-135
131-141
128-138
151-161
......
121-131
131-141
71-81
196-211
182-197
157-172
164-174
134-144
122-132
127-137
120-130
92-102
127-137
127-137
133-143
125-135
149-159
139-149
134-144
139-149
94-104
181-196
167-177
144-154
172-182
130-140
125-135
145-155
131-141
108-118
138-148
128-138
134-144
135-145
152-162
152-162
137-147
132-142
82-92
208-218
194-204
177-187
171-181
159-169
147-157
147-157
135-145
107-117
150-160
135-145
166-176
140-150
......
149-159
144-154
144-154
82-92
256-266
238-248
218-228
176-186
126-136
171-181
171-181
159-169
111-121
179-189
171-181
172-182
146-156
177-187
167-177
170-180
170-180
115-125
244-259
235-245
206-221
177-187
127-137
162-172
......
158-168
107-112
......
......
......
130-140
173-183
......
166-176
......
111-121
Atlanta
Boston
Buffalo
45-50
43-48
40-42
43-46
39-41
40-41
47-50
45-47
45-47

45-47
41-42
39-43
Detroit
Houston
L.A.
N.Y.
Philly
Pburgh
S.F.
St. Louis
Montreal
Toronto
43-46
41-43
39-44
36-38
32-35
33-36
53-57
47-50
49-53
38-41
35-38
35-38
40-42
38-43
35-40
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
191-206
182-197
162-177
164-174
139-149
127-137
132-142
120-130
92-102
122-132
117-127
128-138
125-135
149-159
144-154
124-134
129-139
89-99
191-206
177-192
162-177
156-166
131-141
114-124
134-144
122-132
89-99
129-139
129-139
130-140
136-146
145-155
135-145
140-150
120-130
85-95
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
18-23
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
......
......
37-40
42-45
38-42
47-52
36-39
24-27
......
32-36
......
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
39-44
37-40
......
29-33
Boston
47-50
......
......
27-29
Buffalo
46-51
47-49
23-25
34-38

45-50
......
44-49
43-45
......
45-49
......
......
22-27
22-26
......
27-31
Detroit
41-45
42-46
......
27-31
Houston
41-46
42-46
......
30-34
L.A.
......
......
......
......
N.Y.
41-46
......
19-21
22-26
Philly
43-48
......
......
28-31
Pburgh
......
......
22-24
24-28
S.F.
37-42
38-42
18-22
21-25
St. Louis
48-52
47-51
......
......
Montreal
53-58
50-51
31-32
37-41
Toronto
45-50
......
......
......
Atlanta
Boston
Buffalo
Detroit
Houston
L.A.
N.Y.
Philly
Pburgh
S.F.
St. Louis
Montreal
Toronto
36-41
30-35
30-35
......
31-33
32-34
32-34
36-41
36-41
35-40
32-34
32-37
38-43
31-36
31-36
39-44
36-40
37-39
35-37
33-37
39-44
40-45
35-40
......
35-40
34-39
34-39
......
......
......
......
......
......
......
......
......
38-43
36-41
35-40
......
42-47
39-44
39-44
42-48
35-40
34-39
31-36
40-46
......
35-40
......
......
(rev. 11/15/16)
HEAVY SOFT LEAD

Mixed hard lead
Undrained,whole old batteries
WHEEL WEIGHTS
ZINC
Atlanta
197-207
184-194
164-179
158-168
143-153
111-121
121-131
127-137
76-86
126-136
121-131
127-137
129-139
138-148
128-138
118-128
123-133
78-88
(rev. 11/15/16)
Segregated 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. 11/15/16)
(rev. 11/15/16)
New zinc die cast

OLD ZINC DIE CAST
Old zinc scrap
Zinc die cast automotive grilles
NICKEL
38-42
31-36
31-36
39-44
......
......
......
......
......
......
......
......
(rev. 11/15/16)
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
395-445
335-385
370-420
310-360
370-420
310-360
395-445
335-385

395-445
335-385
395-445
335-385
395-445
335-385
395-445
335-385
370-420
......
395-445
......
395-445
......
395-445
335-385
370-420
......
370-420
......
370-420
310-360
370-420
......
200-250
170-220
170-220
200-250
200-250
200-250
200-250
200-250
170-220
200-250
200-250
200-250
170-220
170-220
......
......
200-230
170-200
170-200
200-230
200-230
200-230
200-230
200-230
170-200
200-230
200-230
200-230
170-200
......
......
......
215-245
195-225
195-225
215-245
215-245
215-245
215-245
215-245
195-225
......
215-245
215-245
......
195-225
......
......
275-300
245-270
245-270
275-300
275-300
275-300
275-300
275-300
245-270
275-300
275-300
275-300
245-270
245-270
245-270
245-270
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
247.00*
REFINERS' COPPER SCRAP
No. 1 copper
241.00*
No. 2 copper
223.00*
BRASS INGOT MAKERS' SCRAP
(rev. 11/15/16)
Copper
No. 1 bare bright
245.00-248.00*
No. 1
240.00-243.00*
No. 2
221.00-223.00*
Light copper
215.00-218.00*
No. 1 comp. solids (rev. 11/09/16)
174.00-178.00
Comp., borings, turnings

(rev. 11/09/16)
Radiators (rev. 11/09/16)
Yellow brass solids (rev. 11/09/16)
153.00-155.00
141.00-143.00
* Nominal for spot sales.
171.00-174.00
SMELTERS' LEAD SCRAP

Buying prices heavy soft lead (cwt), including delivery
to smelter
(rev. 11/15/16)
Scrap lead
$75.00-$78.00
Remelt lead
$78.00-$80.00
Whole batteries
$33.00-$35.00
Cable lead
$80.00-$83.00
SMELTERS' ZINC SCRAP
(rev. 11/15/16)
New zinc clippings
71.00-74.00
Old zinc (clean)
55.00-58.00
Galvanizers' dross
63.00-66.00
SECONDARY SMELTERS'
ALUMINUM SCRAP
Buying prices delivered to Midwest smelters in full
truckloads containing several grades
(rev. 11/14/16)
57.00-60.00
Mixed high copper clips
55.00-58.00
Mixed high zinc clips
51.00-54.00
1-1-3 sows
58.00-60.00
Siding, painted
55.00-58.00
Mixed clips
54.00-56.00
Old sheet
54.00-56.00
Old cast
56.00-58.00
Turnings, clean and dry

High grade
54.00-56.00
Mixed grade (max. 5% Zn)
50.00-52.00
Aluminum-copper radiators
109.00-114.00
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. 11/14/16)
Used beverage can scrap
67.00-69.00
MILLS, SPECIALTY CONSUMERS' BUYING PRICES
(rev. 11/14/16)
Segregated low copper alloy clips
5052
75.00-77.00
3105
69.00-71.00
Mixed low copper alloy clips
65.00-67.00
Painted siding
63.00-65.00
To become a price contributor see

Metal Exchanges page.
Copper scrap price changes were made for:

Atlanta, Boston, Buffalo, Chicago, Cincinnati,
Cleveland, Detroit, Houston, Los Angeles,
New York, Philadelphia, Pittsburgh,
San Francisco, St.Louis, Montreal, Toronto
Aluminum scrap prices were reviewed for:
New York, Pittsburgh, San Francisco, St.Louis,
Montreal, Toronto
Aluminum scrap price changes were made for:
Philadelphia
Lead scrap price changes were made for:
Atlanta, Boston, Buffalo, Chicago, Cleveland,
Detroit, Houston, New York, Philadelphia,
Pittsburgh, San Francisco, St. Louis,
Montreal, Toronto
Zinc scrap price changes were made for:
Atlanta, Boston, Buffalo, Chicago, Detroit,
Houston, Los Angeles, New York, San Francisco,
St.Louis, Montreal, Toronto
Nickel scrap price changes were made for:
New York, Philadelphia, Pittsburgh,
San Francisco, St.Louis, Montreal, Toronto
NOVEMBER 16, 2016
AMM PAGE 13
AMM SCRAP IRON AND STEEL PRICES

NOTICE
NOTICE
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

Export yard buying price changes were made for: Boston, New York, Philadelphia
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
206
203
191
225
203
203(a)
172
207.00
No. 2 heavy melt
185
......
190
......
......
......
......
......
......
......
......
......
......
No. 1 bundles
207
225
240
230
242
216
......
220
222
......
......
253
......
No. 2 bundles *
......
155
160
......
......
......
......
121
102
......
82(a)
......
......
No. 1 busheling
225
235
235
230
240
221
223
220(a)
237
223
240(a)
239
237.33
No. 1 industrial bundles
......
......
......
......
......
......
......
......
242
......
......
......
......
Shredded auto scrap
220
228
228
235
240
220
225
221
241
225
240(a)
193
227.50
80
130
155
125
83
138
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
......
......
......
......
205
230
228
220
225
220
215
201
246
215
225(a)
191
......
Foundry steel, 2' max.
......
......
219
......
177
235
......
265(a)
180
......
185(a)
......
......
DATE REVIEWED:
NO. 1 HEAVY MELT
MACHINE SHOP TURNINGS
Cupola cast
CLEAN AUTO CAST
N. Carolina/
Detroit
Virginia Philadelphia
Ark/Tenn
Border
Pittsburgh
South
Carolina Youngstown
Hamilton,
Ontario Composites
......
......
259
......
100
285(a)
......
180(a)
213
......
......
......
......
......
......
294
......
255
315(a)
......
218(a)
262
......
......
......
......
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 11/09/16)
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)
252.57
DATE REVIEWED:
HMS 1&2 (80:20) West Coast (f.o.b. Los Angeles)
242.00
No. 1 heavy melt
168
163
144
172
155
Shredded Steel Scrap, East coast (f.o.b New York)
256.33
No. 1 bundles
......
......
......
195
......
Midwest Ferrous Scrap Index ($/gross ton, evaluated 11/10/16)
11/08/16
11/08/16
No. 1 busheling
185
218
167
200
175
208.13
Shredded auto scrap
183
215
160
200
280(a)
No. 1 busheling
229.89
Machine Shop Turnings
Shredded steel scrap
225.86
No. 1 heavy melt
MB Iron Ore Index ($/tonne, evaluated 11/15/16)

MBIO Index
72.68
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:
11/15/16
11/01/16
11/15/16
11/15/16
10/03/16
No. 1 heavy melt
155
110
185
190
90
90
80
65
155
135
55
......
No. 1 busheling
......
120
......
......
105
......
Machine shop turnings
......
40
120
......
40
30
Mixed cast
145
......
195
190
......
......
Unstripped motor blocks
150
95
200
185
100
65
95
65
155
155
50
75
160
120
195
195
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
NOVEMBER 16, 2016
AMM PAGE 14
AMM STAINLESS STEEL SCRAP PRICES

DEALER BUYING PRICES

DATE REVIEWED:
Boston
Buffalo
Chicago
Cleveland
Detroit
Houston
L.A.
N.Y.
Pburgh
S.F.
Southeast
Montreal
11/15/16
11/15/16
11/15/16
11/15/16
11/15/16
11/15/16
11/15/16
11/15/16
11/15/16
11/15/16
11/15/16
11/15/16
47-50
40-44
37-55
42-55
35-40
47-48
42-45
35-46
35-50
77-82
56-63
DEALERS' BUYING PRICES (/lb.) Canadian currency

316 solids, clips
34-36
37-38
304 solids, clips
28-30
33-34
31-35
30-32
32-41
30-40
25-30
31-32
32-35
25-30
25-35
304 turnings
22-24
16-17
25-28
22-27
20-35
27-35
15-20
21-22
25-30
15-20
15-30
39-55
304 new clips (prompt industrial scrap)
......
33-34
31-35
30-32
32-41
......
25-30
31-32
32-35
25-30
25-35
56-63
3-5
......
8-9
5-6
3-9
......
......
4-5
5-6
......
5-9
......
829-851
1,053-1,120
896-986
829-1,232
941-1,232
784-896
1,053-1,075
941-1,008
784-1,030
784-1,120
1,725-1,837
1,254-1,411
DEALERS' BUYING PRICES (US$/gross ton) Canadian currency

316 solids, clips
762-806
304 solids, clips
627-672
739-762
694-784
672-717
717-918
672-896
560-672
694-717
717-784
560-672
560-784
304 turnings
493-538
358-381
560-627
493-605
448-784
605-784
336-448
470-493
560-672
336-448
336-672
874-1,232
......
739-762
694-784
672-717
717-918
......
560-672
694-717
717-784
560-672
560-784
1,254-1,411
67-112
......
179-202
112-134
67-202
......
......
90-112
112-134
......
112-202
......
BROKER/PROCESSOR BUYING PRICES

Chicago
Cleveland
Detroit
Houston
N.Y.
Pburgh
Southeast
11/15/16
11/15/16
11/15/16
11/15/16
11/15/16
11/15/16
11/15/16
316 solids, clips
62.5-66.5
63-65
63-65
64-67
64-65
63-65
64-67
304 solids, clips
47-51
47-50
48.5-50
50-51
48-50
49-51
50-52
304 turnings
41-45
40-44
42-44
42-46
41-42
40-44
42-44
430 bundles, solids
13-17
......
14-18
13-18
......
13-17
13-18
430 turnings
7-13.5
......
......
......
......
7-13
7-13
10.5-15
......
11-16
11-14
......
11-13
11-16
6-10.5
......
8-10
......
......
6-10
6-10
316 solids, clips
1,400-1,490
1,411-1,456
1,411-1,456
1,434-1,501
1,434-1,456
1,411-1,456
1,434-1,501
304 solids, clips
1,053-1,142
1,053-1,120
1,086-1,120
1,120-1,142
1,075-1,120
1,098-1,142
1,120-1,165
918-1,008
896-986
941-986
941-1,030
918-941
896-986
941-986
291-381
......
314-403
291-403
......
291-381
291-403
430 turnings
157-302
......
......
......
......
157-291
157-291
409 bundles, solids
235-336
......
246-358
246-314
......
246-291
246-358
409 turnings
134-235
......
179-224
......
......
134-224
134-224
DATE REVIEWED:
BROKER/PROCESSOR BUYING PRICES (/lb.)
409 bundles, solids

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

Pittsburgh
DATE REVIEWED:
11/10/16
CONSUMER BUYING PRICES (/lb.)
Estimated prices an export dealer, broker or processor will pay for items delivered to his yard, in US$/gross ton.
Boston
L.A.
N.Y.
Philly
S.F.
11/15/16
11/15/16
11/15/16
11/15/16
11/15/16
304 solids, clips
......
38-40.2
49-50
49-50
38-40.2
304 turnings
......
20-21.2
31-32
31-32
20-21.2
11-12
8.9-10
10-11
10-11
8.9-10
......
851-900
1,098-1,120
1,098-1,120
851-900
......
448-475
694-717
694-717
448-475
246-269
199-224
224-246
224-246
199-224
DATE REVIEWED:
STAINLESS STEEL SCRAP PRICES (/lb.)
316 solids, clips
67-69
304 solids, clips
50-51
304 turnings
42.5-46
430 bundles, solids
19.2-20.3
409 bundles, solids
15.2-16.3
CONSUMER BUYING PRICES (US$/gross ton)

316 solids, clips
1,501-1,546
304 solids, clips
1,120-1,142
304 turnings
952-1,030
430 bundles, solids
430-455
409 bundles, solids
340-365
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: Buffalo, Chicago, Los Angeles, New York, Pittsburgh, San Francisco
Dealer buying price changes were made for: Boston, Cleveland, Detroit, Houston, Southeast, Montreal
Broker/processor buying price changes were made for: Chicago, Cleveland, Detroit, Houston, New York, Pittsburgh, Southeast
Export yard buying prices were reviewed for: Boston, New York, Philadelphia
Export yard buying price changes were made for: Los Angeles, San Francisco
To become a price contributor see Metal Exchanges page.
NOVEMBER 16, 2016
AMM PAGE 15
METAL EXCHANGES
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.
11/15/16
Bid
Ask
(in China yuan/tonne)
COMEX COPPER
(prices effective 11/15/16)
(/pound)
11/14/16
Bid
SHANGHAI FUTURES EXCHANGE
Comex, high grade, electrolytic cathode
Ask
ALUMINUM -- HIGH GRADE
Settlement (eff. 11/15/16)
1st session
Spot (Nov)
250.20
Cash
1,725.00
1,727.00*
1,764.00
1,765.00*
Dec
250.50
3 months
1,721.00
1,721.50
1,753.50
1,754.50
Mar
251.45
Stocks
2,160,475
Stocks
2,098,950
May
252.00
ALUMINUM -- ALLOY (380-1, DIN 226, ADC 12)
Opening stocks, short tons
1st session
Cash
1,530.00
1,540.00*
1,510.00
1,511.00*
3 months
1,545.00
1,555.00
1,520.00
1,525.00
Stocks
13,680
Stocks
13,680
ALUMINUM-ALLOY (North American Special)

1st session
Cash
3 months
1,710.00
1,710.50*
1,710.00
1,715.00*
1,720.00
1,725.00
1,720.00
1,730.00
Stocks
79,820
Stocks
79,740
72,864
COMEX GOLD
(US$/troy ounce)
Comex settlement (99.5%, eff. 11/15/16)

Nov
$1,224.00
Dec
$1,224.50
Feb
$1,227.40
Apr
$1,230.20
COMEX SILVER
(/troy ounce)
COBALT
Comex settlement (99.5%, eff. 11/15/16)
1st session
Cash
29,200.00
29,500.00*
29,250.00
29,500.00*
Nov
1,702.90
3 months
29,000.00
29,500.00
29,000.00
29,500.00
Dec
1,704.30
Stocks
590
Stocks
590
Jan
1,707.60
Mar
1,714.30
COPPER -- GRADE A
1st session
PLATINUM AND PALLADIUM
Cash
5,445.00
5,448.00
5,619.50
5,620.00
3 months
5,440.00
5,441.00*
5,626.00
5,628.00*
Stocks
262,050
Stocks
266,150
LEAD
1st session
Cash
2,153.50
2,154.00*
2,150.00
2,150.50*
3 months
2,168.00
2,170.00
2,156.00
2,158.00
Stocks
188,100
Stocks
(US$/troy ounce)
(Nymex settlement prices, eff. 11/15/16)
Platinum (99.95%), Jan
$934.70
Platinum (99.95%), Apr
$937.70
Palladium (99.95%), Dec
$705.95
Palladium (99.95%), Mar
$705.70
NATURAL GAS
187,500
(/mmBtu)
MOLYBDENUM
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
$270.90
HOT-ROLLED COIL
(US$/short ton)
NICKEL
1st session
Cash
11,150.00
11,155.00*
11,130.00
11,135.00*
3 months
11,215.00
11,220.00
11,175.00
11,200.00
Stocks
365,358
Stocks
365,502
STEEL BILLET
Nov
$492.00
Dec
$535.00
Jan
$555.00
Feb
$555.00
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
20,475.00
20,500.00*
21,370.00
21,375.00*
3 months
20,350.00
20,400.00
21,225.00
21,275.00
Stocks
3,155
Stocks
3,140
ZINC -- SPECIAL HIGH GRADE

1st session
Cash
2,551.00
2,552.00*
2,538.00
2,539.00*
3 months
2,557.00
2,558.00
2,554.00
2,556.00
Stocks
446,250
Stocks
446,350
NOVEMBER 16, 2016
(US$/gross ton)
Dec
$255.00
Jan
$265.00
Feb
$265.00
Mar
$265.00
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.
Aluminum
Copper
Lead
Zinc
14,985
43,280
18,655
21,920
EXCHANGE RATES
Selling prices in US dollars at 11:00 am in NY, based on
Reuters quotes.
$ per
per $
Euro
1.0736
0.9315
Canada (dollar)
0.7423
1.3472
Japan (yen)
0.009186
108.8600
Britain (pound)
1.2412
0.8057
China (yuan)
0.1458
6.8591
Mexico (peso)
0.0491
20.3673
Russia (Ruble)
0.0155
64.5931
Switzerland (franc)
0.9994
1.0007
Australia (dollar)
0.7539
1.3265
South Africa (Rand)
0.0704
14.2130
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 16
AMM MARKET GUIDE

PRECIOUS METALS
(all precious metal prices effective 11/15/16)
GOLD
(US$/troy ounce)
London A.M.
$1,228.90
London P.M.
$1,226.95
Handy and Harman (bullion base)

Handy and Harman (fabricated form)
$1,226.95
$1,361.915
Engelhard (bullion base)
$1,225.73
Engelhard (fabricated form)
$1,317.66
IRIDIUM
(US$/troy ounce)
Johnson Matthey
$675.00
PLATINUM
(US$/troy ounce)
Engelhard (unfab.)
$935.00
Engelhard (fab.)
$1,035.00
Johnson Matthey
$932.00
PALLADIUM
(US$/troy ounce)
Engelhard (unfab.)
$713.00
Engelhard (fab.)
$813.00
Johnson Matthey
$706.00
RUTHENIUM
(US$/troy ounce)
Johnson Matthey
$40.00
RHODIUM
(US$/troy ounce)
Johnson Matthey
$805.00
SILVER
(/troy ounce)
Engelhard (bullion base)
1,696.00
Engelhard (fabricated form)
2,035.20
Handy and Harman (bullion base)
1,706.50
Handy and Harman (fabricated form)
2,133.10
Heraeus Precious Metals
1,708.50
Metalor USA Refining
1,701.00
LBMA
1,700.00
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
78.29
Spot(/lb)
3-month (/lb)
78.06
Midwest Premium (rev. 11/09/16)
7.30-7.50
AMM Free Market, /lb
85.58-85.78
6063 extrusion billet upcharge
9.50-10.50
Domestic producer estimated prices ($/lb)
C355.2
1.10
A356.2
1.05
6061 (extrusion hom.)
0.84-0.85
6063 (extrusion hom.)
0.92-0.93
SECONDARY ALUMINUM
AMM Free Market, /lb, delivered Midwest (rev. 11/14/16)
A380.1
82.00-83.00
319.1
86.00-88.00
356.1
90.00-92.00
A360.1
89.00-90.00
A413.1
88.00-90.00
COPPER
Premium (rev. 11/03/16)
5.25-5.75
AMM free market cathode, /lb
255.45-255.95
LEAD
9.00-13.00
AMM free market price, /lb
106.66-110.66
MB battery premium, /tonne
90.00-120.00
NICKEL
Melting material
15.00-20.00
520.67-525.67
Plating material
47.74-52.38
553.41-558.05
TIN
Grade A premium (US$/tonne)
(rev. 11/10/16)
$550.00-$600.00
AMM free market price
$21,025.00-$21,075.00
US$/tonne
/lb
953.69-955.96
ZINC
Special high grade premium
(rev. 11/10/16)
6.00-7.00
121.69-122.69
SHG average week ending
119.03
11/11/16
ZINC - DIE CASTING ALLOYS
(rev. 11/15/16)
Premium
Price, /lb
Nos. 3 and 7
17.00-19.00 132.69-134.69
No. 5
19.00-21.00 134.69-136.69
No. 2
21.00-23.00 136.69-138.69
Zinc-aluminum foundry alloys
No. 8
20.00-22.00 135.69-137.69
No. 12
22.00-24.00 137.69-139.69
No. 27
27.00-29.00 142.69-144.69
ANTIMONY
(rev. 11/11/16)
MB free market, US$/tonne
$7,300.00-$7,500.00
BISMUTH
(rev. 11/11/16)
MB free market, US$/lb
$4.45-$4.75
CADMIUM
(rev. 11/11/16)
MB free market
min 99.95%, /lb in warehouse
59.00-66.00
min 99.99%, /lb in warehouse
60.00-69.00
CHROMIUM METAL
(rev. 11/11/16)
MB free market, US$/tonne
$7,100.00-$7,500.00
COBALT
(rev. 11/11/16)
MB free market
High grade, US$/lb in warehouse
$13.30-$14.15
Low grade, US$/lb in warehouse
$13.05-$13.65
GERMANIUM
(rev. 11/11/16)
MB free market, US$/kg
$610.00-$710.00
INDIUM
(rev. 11/11/16)
MB free market, US$/kg
$195.00-$240.00
MAGNESIUM
MB Europe free market, US$/tonne
(rev. 11/11/16)
$2,350.00-$2,510.00
AMM free market (US), US$/lb
(rev. 11/01/16)
$1.93-$1.95
MERCURY
(rev. 11/11/16)
MB free market, US$/flask
$940.00-$1,250.00
SELENIUM
(rev. 11/11/16)
MB free market, US$/lb
$8.00-$9.50
SILICON METAL
(rev. 11/09/16)
AMM free market, /lb
90.00-95.00
TITANIUM
Estimated market prices in US$/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-$14.00
FERROALLOYS
FERROCHROME
(rev. 11/10/16)
High carbon
98.00-105.00
Low carbon
0.05%C-65% min Cr
206.00-210.00
0.10%C-62% min Cr
177.00-183.00
0.15%C-60% min Cr
174.00-176.00
FERROMANGANESE
(rev. 11/10/16)
High carbon
AMM free market, US$/long ton
$970.00-$1,025.00
Medium carbon
82.00-84.00
Low carbon
91.00-94.00
SILICOMANGANESE
(rev. 11/10/16)
47.00-52.00
FERROSILICON
(rev. 11/10/16)
71.00-75.00
MOLYBDENUM
(rev. 11/10/16)
AMM free market
Canned molybdic oxide, US$/lb
$6.80-$7.00
FERROMOLYBDENUM
(rev. 11/10/16)
AMM free market, US$/lb
$8.00-$8.50
TUNGSTEN
(rev. 11/11/16)
MB free market, APT, US$/mtu
$198.00-$203.00
VANADIUM PENTOXIDE
(rev. 11/11/16)
MB free market,
min 98% V2O5, US$/lb
$4.65-$4.85
FERROVANADIUM
(rev. 11/10/16)
AMM free market, US$/lb
$10.50-$11.50
To become a price contributor

see 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
NEWS TEAM
Lisa Gordon correspondent, scrap
(412) 880-4992 lgordon@amm.com
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
Kirk Maltais reporter, aluminum
(212) 224-3907 kirk.maltais@amm.com
NOVEMBER 16, 2016
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
Millicent Dent reporter
(212) 224-3927 millicent.dent@amm.com
Dom Yanchunas reporter
(212) 224-3954 dom.yanchunas@amm.com
NEWS DESK
Renate Foster Mas chief copy editor
(757) 603-6876 rfmas@amm.com
Thaddeus Rutkowski senior copy editor
(212) 224-3906 thaddeus.rutkowski@amm.com
Sara Kelly senior copy editor
(212) 224-3905 sara.kelly@amm.com
PRODUCTION
Raveendra Karanth production manager/
pricing administrator
(646) 274-6252 rkaranth@amm.com
Dany Pea production associate
(212) 224-3940 dpena@amm.com
Aracely Lopez production pricing associate
(646) 274-6215 aracely.lopez@amm.com
CUSTOMER SERVICE/SALES
(877) 638-2856 (US)
(412) 765-3581 (Intl.)
custserv@amm.com
ADVERTISING SALES
Mary Connors vice president of sales/
publisher, AMM magazine
(646) 274-6250 mconnors@amm.com
Adelaida Montilla advertising sales/
marketing assistant
(212) 224-3937 adelaida.montilla@amm.com
Francine Krieger regional sales manager
(212) 224-3946 francine.krieger@amm.com
SUBSCRIPTIONS
Karen Ross VP operations
(412) 880-4966 kross@amm.com
John Lecky VP subscriptions and information sales
(412) 880-4969 john.lecky@amm.com
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electronically from American Metal Market, please contact
the Copyright Clearance Center at (978) 750-8400
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AMM PAGE 17

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WEDNESDAY, NOVEMBER 16, 2016 / VOLUME 124 / NUMBER 46-3 / ESTABLISHED 1882

Mobile port unfazed by rising

No worries? Port director James K.

war, he said. But Lyons is more

SeAH agrees to buy OMK Tube, Laguna Tubular

Houston Operations facility,

a U.S. producer just as the U.S.

US mills raise steel

Steel distribution poles

Steel centers destocking,

ArcelorMittal SA, U.S. Steel Corp.,

The potential for steel distribution

U.S. steel distributors shipments

METAL IS OUR SPECIALTY,

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

NUMBER OF THE DAY

Decline in U.S. service centers

Mobile port unfazed

did not immediately respond to

million in steel-related port

SeAH agrees to buy

who did not respond. OCTG LLP

CONTINUED FROM PAGE 1

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

NOVEMBER 16, 2016

and exports of select downstream

Nucor, SDI raise

US raw steel output dips 1.4%, utilization at 66.6%

utilization rate of 62.7 percent,

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

*Reflects AISI adjustments.

STEEL PRODUCTION BY DISTRICTS

Source: American Iron and Steel Institute.

Nucor hiking wire

NOVEMBER 16, 2016

Mart for steel

kilovolts (kV), and subtransmission,

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

However, one disadvantage that

NEW YORK U.S. steel distributors

U.S. hot-rolled sheet prices jumped

destocking trend that began

US SERVICE CENTERS STEEL SHIPMENTS VS. INVENTORIES

US SERVICE CENTERS ALUMINUM SHIPMENTS VS. INVENTORIES

(in thousands of tons)

(in thousands of tons)

CANADIAN SERVICE CENTERS STEEL SHIPMENTS VS. INVENTORIES

CANADIAN SERVICE CENTERS ALUMINUM SHIPMENTS VS. INVENTORIES

(in thousands of tons)

(in thousands of tons)

NOVEMBER 16, 2016

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

Join Severstal, Metal Bulletin

Severstal is one such leading company, and has

Insights on how metals giant Severstal

NOVEMBER 16, 2016

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

producers will charge for rod, a

AMM Free Market

No. 2 copper scrap

Silver, Handy and Harman (/troy oz)

* Nominal for spot sales

NOVEMBER 16, 2016

tariffs on foreign imports

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

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

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

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

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

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

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

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

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