Final Thoughts

Ferrous scrap prices drifting lower by as much as $30 per gross ton (Detroit) on primes and $20 (Detroit) on shred will put some pressure on flat rolled steel spot prices in the coming weeks. Not all of the regions have settled prices and the dealers are resisting going down as much as what was accomplished in Detroit.

We have just completed our early September flat rolled steel market trends analysis (survey) and our Power Point presentation will be placed on our website for our Premium level members as well as those on a free trial. The presentation should be online by Friday afternoon.

We will also publish a Premium supplemental issue on Friday.

There is quite a bit in tonight’s issue so I will make my final thoughts brief.

As always your business is truly appreciated by all of us here at Steel Market Update.

John Packard, Publisher