Scrap prices were forecast a week ago to drop $10-$20 per gross ton in November. However, we are beginning to hear that the scrap markets may not be as dire as predicted and the numbers may be much closer to sideways than down once the negotiations are concluded next week. One of our scrap sources […] The post Ferrous Scrap Pricing May Have Bottomed… appeared first on Steel Market Update.
Written by: Bradley Clark, Director of Steel Trading, Kataman Metals The HRC futures market has been exceptionally quiet over the past few weeks with almost no volume trading as the recent price hikes, uncertainty of pricing going forward and middling futures pricing has led most traders to sit on the sidelines awaiting the next price […] The post Hot Rolled Futures Hold Steady in the Face of an Uncertain Physical Market appeared first on Steel Market Update.
One of our scrap sources – a Northeast based shredding company – reported sales to one of the mill scrap brokerage companies with two sales on shredded scrap. One 35,000 ton lot at down $20 per gross ton shipping by rail, a second lot of shred sold down $15 per gross ton to ship by […] The post U.S. Scrap Prices “Sloppy” as Mills Buy at Lower Levels appeared first on Steel Market Update.