USA: RMDAS ferrous scrap index witnesses sharp hike m-o-m in Dec'23

The RMDAS ferrous scrap index, which reflects the US spot market prices for steel mills and foundries, has risen in Dec'23. The index witnessed the following significant regains:

• Shredded scrap has gone up by $59/t to $469/t.
• Prompt industrial composite scrap was raised by $72/t to $518/t.
• The HMS index also increased by $34/t to $397/t.