Final Thoughts

I will be in my office on Monday, Thursday and Friday of this week. I will be traveling to New York City for the AHR Expo on Tuesday and Wednesday. If you are attending the AHR Expo and would like to seek me out you can do so by email: John@SteelMarketUpdate.com or by phone (or text) at 770-596-6268.

Early indications from discussions held with members of the scrap community are the ferrous scrap prices are slipping and will be down $20 to $40 per ton compared to the beginning of January numbers by early February or the latest early March 2014. We are hearing reports of scrap already being bought down $20-$25 in the Birmingham area and there is scrap coming in from Canada as well as scrap originally destined for export is flooding into the domestic markets.

It is important that sheet buyers be aware of the developments in the scrap markets and watch prices carefully over the next month or longer.

As always we thank you for your business which is truly appreciated by all of us here at Steel Market Update.

John Packard, Publisher