StocktonCA
1 day ago
?
Commodity Insights
S&P Global / Commodity Insights
The Learning Center
Conferences, Training, & Strategic Media
Solutions
Agriculture & Food
Clean Energy Technology
Crude Oil
Crop Science
Carbon & Scenarios
Fuels & Refined Products
Biofuels
Gas & Power
Upstream & Midstream (Oil & Gas)
Chemicals
LNG
Steel & Metals
Fertilizers
Shipping
Capabilities
Market Insights
Commodity Pricing & Market Data
Risk
Software
AI
CI Consulting
Energy Transition
Delivery Platforms
?
Platts Connect
?
Data & Distribution
News & Research
Latest News
Infographics
Topics
Special Reports
Podcasts
Videos
Insight Blog
Commodity Insights Magazine
Commodity Insights LIVE
Market Insights Recommendations
US aims to chip away at China's shipping dominance with new port fees
The Trump administration appears poised to impose new fees on Chinese-built ships that dock in US ports in an effort to slow China's dominance of
Canadian steel producers lay off workers, cancel projects in response to US tariffs
Canada Metals Processing Group is laying off employees and pausing or canceling projects in response to US tariffs threats on Canadian steel imports,
Subscriber Notes
Corrections
Holiday Publication Schedule
Regulatory Engagement & Market Issues
Complaints
Our Methodology
Our Methodology
Methodology Review & Change
Market On Close
Price Assessments & Benchmarks
Index
Price Symbols
Methodology & Specifications
Symbol Search & Directories
MOC Participation Guidelines
Reference Documents
Methodology & Participation
MOC Participation Guidelines*
Methodology Review & Change
Regulatory Engagement & Market Issues*
Corrections
Complaints*
Reference Tools
Holiday Publication Schedule*
Conversion Tables*
Glossary*
Dunl.org
Conferences
Forums
Webinars
Methodology Education
Training
All Events
Featured Events
?
CERAWeek
?
Global Energy Awards (GEA)
?
World Petrochemical Conference (WPC)
?
Global Power Markets (GPM)
?
APPEC
?
London Energy Forum
S&P Global
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.
Corporates
Need a Rating?
Credit Ratings
Intro to Credit Ratings
ESG in Credit Ratings
Ratings Actions
Corporates
Sectors
Regulatory
Events
Products & Benefits
S&P Global Offerings
Corporates
Credit Rating History
Understanding Credit Ratings
Intro to Credit Ratings
ABOUT RATINGS
Intro to Credit Ratings
S&P Dow Jones Indices
S&P Global Market Intelligence
S&P Global Mobility
S&P Global Commodity Insights
REGULATORY
Ratings Actions
EVENTS
Sectors
S&P Global Sustainable1
S&P Global Ratings
S&P Global
S&P Global Market Intelligence
S&P Global
SECTORS
Need a Rating?
ABOUT RATINGS
Intro to Credit Ratings
Research & Insights
Need a Rating?
Intro to Credit Ratings
Fixed Income Issuance
Ratings Actions
Need a Rating?
Intro to Credit Ratings
Understanding Credit Ratings
Ratings Actions
S&P Global
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.
Contact Us
ABOUT RATINGS
Corporates
Credit Rating History
S&P Global Mobility
Need a Rating?
Understanding Credit Ratings
Intro to Credit Ratings
ESG in Credit Ratings
ESG in Credit Ratings
Ratings Actions
S&P Global
S&P Global Market Intelligence
S&P Global Mobility
S&P Global Commodity Insights
S&P Global Ratings
S&P Global Sustainable1
Need a Rating?
Understanding Credit Ratings
Intro to Credit Ratings
ESG in Credit Ratings
About Commodity Insights
Overview
Contact Us
Regulatory Engagement & Market Issues
Commodity Insights LIVE
S&P Global Offerings
?
Market Intelligence
?
Ratings
?
Commodity Insights
?
S&P Dow Jones Indices
?
Mobility
?
Sustainable1
Featured Topics
Sustainability
Private Markets
Energy Transition
Credit & Risk
Fixed Income
Supply Chain
Technology & AI
Featured Products
?
S&P Capital IQ Pro
?
Platts Connect
?
S&P Global ESG Scores
?
AutoCreditInsight
?
Ratings360
?
SPICE: The Index Source for ESG Data
Events
Featured S&P Global Events
Webinar Replays
CERAWeek
S&P Global Market Intelligence
S&P Global Ratings
S&P Dow Jones Indices
S&P Global Mobility
S&P Global Commodity Insights
S&P Global Sustainable1
Careers
Overview
Our Culture
Our Commitment
Our Work
Search for a Job
Language
????
???
Português
Español
Dashboard
Subscriptions
Personal Info
Interests
Events
Bookmarks
Alerts & Preferences
Logout
Support
Get Support
Commodity Insights LIVE
System Notification
Trending Topics
Biofuels and Energy
Commodities 2025
Commodity Pricing & Market Data
Energy Transition
Jet Fuel
Steel & Metals
Upstream & Midstream (Oil & Gas)
Offerings by Division
S&P Global Market Intelligence
S&P Global Ratings
S&P Global Commodity Insights
S&P Dow Jones Indices
S&P Global Mobility
S&P Global Sustainable1
Login
Subscribe
Latest News - Energy & Commodities
Related Content
24 Feb 2025
US aims to chip away at China's shipping dominance with new port fees
24 Feb 2025
Canadian steel producers lay off workers, cancel projects in response to US tariffs
24 Feb 2025
INTERVIEW: Policy confusion, SAF demand reshape Asian used cooking oil trade, prices
24 Feb 2025
Global lithium market sees surge in bidding activity after demand lull
24 Feb 2025
Global commodity trading margins set to rebound after 2024 slump: McKinsey
Metals & Mining Theme, Non-Ferrous, Ferrous
February 12, 2025
INTERVIEW: US metals recycler Greenwave sees surge in demand after tariff announcements
?
By Anthony Rizkala
HIGHLIGHTS
US steel manufacturers to secure domestic supplies due to tariffs
Scrap prices to surge due to tight supply, high demand: CFO
US metals recycler Greenwave Technologies has seen a rise in domestic bids for their steel after US President Donald Trump announced tariffs on all steel imports, Isaac Dietrich, CFO of Greenwave, said in an interview with S&P Global Commodity Insights.
Virigina-based Greenwave primarily supplies domestically sourced recycled steel to steel mills, and also sells secondary aluminum, copper, and rare earth metals. Dietrich said that major steel manufacturers, including Cleveland-Cliffs, Nucor, and Sims, have increased their demand for long-term supply agreements to secure sources of domestic metals. The tariff-induced demand influx led Greenwave to revise its 2025 revenue guidance and increase it by 10%.
"We saw a significant increase in bids from the major steel manufacturers recently, and they're going to keep going higher this month," Dietrich told Commodity Insights Feb. 11. "There'll be a significant increase in demand for a finite supply. So, we expect prices to go considerably higher in our markets."
US ferrous scrap prices have risen sharply this month due to Trump's tariff promises and tight supply. The daily Platts TSI US Midwest shredded scrap index was assessed at $435/lt on a delivered basis Feb. 11, unchanged from Feb. 10.
The 25% tariffs on all steel imports, set to take effect on March 12, have led to logistical shockwaves as US steel manufacturers scramble for more domestic supply sources to replace imports.
"Immediately, you're going to have some supply chain disruptions. Both Sims and Nucor are trying to lock us into long-term contracts to derisk from that," said Dietrich
He added that Trump's election win led Greenwave to start accumulating scrap inventory in anticipation of the tariffs.
"We also invested about $30 million in our equipment. We expanded our fleet to about 50 trucks. We purchased the land underlying our facilities, 7 facilities for approximately $15 million," he said.
While ferrous scrap operations constitute about 80% of Greenwave's business, the company has also seen that US tariffs and the recent trade tensions have presented opportunities for US rare earth metals markets.
"[Tariff conversations] started to influence rare earths back in early December. Honestly, it's not something we really focused on until we saw that value increase," Dietrich said. "Now we're making significant investments in the processing equipment and the knowledge needed to be an expert in rare earth metals."
Theme
Metals & Mining Theme Non-Ferrous Ferrous
Editor:
Karina Roman
Recommended for You
US gas E&Ps see supply mismatch coming as LNG production climbs
Global commodity trading margins set to rebound after 2024 slump: McKinsey
US aims to chip away at China's shipping dominance with new port fees
Follow Us
Our Purpose
Our Values
Our History
Ventures
Press Center
Careers at S&P Global Commodity Insights
Investor Relations
Overview
News Releases
Quarterly Earnings
SEC Filings & Reports
Contact Us
Sales & Support
Support by Division
Reports an Ethics concern
Office Locations
Advertisers
Our Organization
Careers
Corporate Responsibility
Leadership
IOSCO ESG Rating & Data Product Statements
About S&P Global Commodity Insights
Terms of Use
Cookie Notice
Privacy Policy
Client Privacy Portal
Do Not Sell or Share My Personal Information
© 2025 S&P Global
INV4
3 months ago
Greenwave Technology Solutions, Inc. Positioned to Capitalize on Nucor's Lexington Facility Launch and Record Domestic Demand
December 05 2024 - 8:16AM
PR Newswire (US)
CHESAPEAKE, Va., Dec. 5, 2024 /PRNewswire/ -- Greenwave Technology Solutions, Inc. (Nasdaq: GWAV), a leader in metal recycling operations across Virginia, North Carolina, and Ohio, is set to benefit from the 2025 opening of Nucor Corporation's state-of-the-art steelmaking facility in Lexington, North Carolina. The facility's staggering 430,000-ton annual processing capacity, consisting of nearly 100% recycled materials, will significantly increase regional demand for recycled steel.
Positioned as a Leading Supplier
Greenwave stands as one of North Carolina's largest suppliers of recycled steel, operating five metal recycling facilities and an industry-leading American Pulverizer 60x85 shredder. Greenwave has a proven track record of supporting Nucor's operations, supplying its Hertford mill with steel for critical applications, including bridges, heavy equipment, and warships vital to American national security interests, including the $13 billion USS Gerald Ford aircraft carrier.
Key Growth Drivers and Market Opportunities
Surging Regional Infrastructure Demand: Supported by recent federal investment, the South Atlantic Region is experiencing an unprecedented surge in construction projects, driving demand for recycled metals.
Domestic Market Shift: Greenwave projects 75% of revenue will stem from domestic sales in 2025, up from 41% over the previous four years, as President-elect Trump's anticipated tariffs and trade policies reshape global steel dynamics. This transition is expected to result in significant revenue growth and margin expansion.
Sustainability Leadership: Operating 13 strategically located recycling facilities, Greenwave aligns with the growing emphasis on sustainable, domestically sourced ferrous and non-ferrous metals vital to the U.S. defense and infrastructure sectors.
Unlocking Shareholder Value
Greenwave's strong operational footprint and relationships with industry leaders – Nucor Corporation, Sims Metal Management, and Cleveland-Cliffs, Inc. – position the Company to capitalize on robust domestic demand and favorable policy shifts. As regional steel supply chains pivot toward sustainable and domestically sourced metals, Greenwave is optimally positioned for rapid growth.
About Greenwave – One of the Mid Atlantic's Leading Metal Recyclers
As an operator of 13 metal recycling facilities, Greenwave Technology Solutions, Inc. (Nasdaq: GWAV) supplies leading steel mills and industrial conglomerates with ferrous and non-ferrous metal. With steel being one of the most recycled materials worldwide, Greenwave supplies the raw metal utilized in critical infrastructure projects and U.S. warships vital to American national security interests. Headquartered in Chesapeake, VA, the Company has 167 employees with metal recycling operations across Virginia, North Carolina, and Ohio.
For detailed financials and updates, visit www.GWAV.com.
https://ih.advfn.com/stock-market/NASDAQ/greenwave-technology-sol-GWAV/stock-news/95043537/greenwave-technology-solutions-inc-positioned-to
$GWAV
Tahoe2468
3 months ago
Danny Meeks, the Chief Executive Officer of Greenwave Technology Solutions, Inc. (NASDAQ:GWAV), recently purchased a significant amount of the company's common stock. The stock, currently trading at $0.70, has shown remarkable momentum with a 93% gain in the past week. According to a filing with the Securities and Exchange Commission, Meeks acquired 377,002 shares at a price of $0.66 per share, totaling approximately $248,821. This transaction increases his direct ownership to 2,122,695 shares. Greenwave Technology Solutions, based in Chesapeake, Virginia, operates in the wholesale metals service centers and offices industry. With a market capitalization of $13.76 million, the company trades at a notably low Price/Book ratio of 0.29
Tahoe2468
3 months ago
12/02/2024 - 05:25 PM
Rhea-AI Impact(Neutral)Rhea-AI Sentiment(Neutral)Rhea-AI SummaryGreenwave Technology Solutions(Nasdaq: GWAV) has acquired real estate for seven of its core metal recycling facilities from CEO Danny Meeks, reducing annual rent expenses by $1.7 million. The company operates 13 facilities across Virginia, North Carolina, and Ohio, with 167 employees. Key strategic assets include exclusive operational licenses in Norfolk, Virginia Beach, and Portsmouth, protected by grandfathered municipal codes. The Norfolk facility, near the largest U.S. Naval Base, holds one of the city's few VMV automotive recycler licenses, while the Virginia Beach location is the city's only metal recycling facility.NegativeRelated party transaction with CEO for real estate purchaseInsightsThis strategic real estate acquisition marks a significant financial transformation for Greenwave. The $1.7M annual rent savings represents a substantial 22.8% of the company's market cap, indicating a major positive impact on cash flow efficiency. The transaction's structure, involving the purchase from the CEO, consolidates operational control while eliminating lease dependencies.The company's portfolio of grandfathered licenses in key military and industrial locations creates significant competitive moats. The Norfolk facility's proximity to the largest U.S. Naval Base and the exclusive position in Virginia Beach represent valuable strategic assets. These operational advantages, combined with reduced fixed costs, strengthen Greenwave's market position and potential for margin expansion in the metal recycling sector.The acquisition of seven operational facilities represents a strategic real estate consolidation in prime industrial locations. The properties' proximity to major naval installations and port facilities significantly enhances their long-term value proposition. The grandfathered operational licenses attached to these locations create a unique value multiplier, as new entrants face substantial regulatory barriers to establish competing facilities.
Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.
green maschine
2 weeks ago
glenn1919
2 weeks ago
MasterBlastr
3 weeks ago
Yo-Yo
3 months ago
luckydude777
4 months ago
FORDGT
5 months ago
TommyBoyTrader9460
5 months ago
Monksdream
6 months ago
Res Ipsa Loquitur
6 months ago
Hot Features
Premium
