SM Commodities Index - March 2023

24 April 2023

The latest prices and key trends from the SM Commodities Index.

Steel scrap

Steel scrap prices are rising in the US mostly because of higher prices in global markets, according to S&P Global. The US and Northern Europe are the major scrap exporters to the world. 

Rotterdam prices surged primarily on Turkish buying as the market expects strong demand to rebuild after the earthquake. US prices moved higher to equalise with European levels.


The US hard red winter wheat flour price in February gained month-over-month, driven somewhat by dry conditions in the Great Plains but more from the spill-over support offered by the rally in corn and soybean prices. 

Most recently wheat futures have turned very bearish as weather in the Great Plains turned positive, the prospect of the Black Sea Grain Corridor extension is presumed, and corn and soybean futures have collapsed.

Click the image to enlarge

Supply Management Commodities Index March 2023

CIPS Knowledge
Find out more with CIPS Knowledge:
  • best practice insights
  • guidance
  • tools and templates