Steel's August stumble
Is the recycled metals market heading for a September slump?
Is the recycled metals market heading for a September slump?
Steel mills enter the August market. Non-ferrous looks to September.
The mills collectively stuck with sideways pricing
Year-to-date production stands at 52,421,000 st at a capability utilization rate of 76.5%.
ADI is coming to the market as early as September to start the big buying season-- the one the UBC market was waiting for before pricing themselves.
As of this writing Monday, Aug. 5, the markets are experiencing upheaval and the jury is out as to when/how all the current turmoil is going to play out.
As always, scrap prices are reliant mainly on the demand for finished steel. Demand has been down this year and so have prices for ferrous scrap.
Gary Chandler will be the new head of the merged entities.
The merger gives Alter access to new markets in Colorado. Andersen now has access to capital with which they can continue their growth.
Economic indicators suggest we continue to err on the side of caution.