Following a big drop in scrap prices in September, sources tell Steel Market Update they expect an increase in the price of obsolete grades in October, with prime grades seeing some downward pressure. “I think we will see an increase specifically for shred in October. The consensus is building that prices in October for these grades […] The post Mixed Outlook for Ferrous Scrap Prices in October appeared first on Steel Market Update.
With trading still winding down today, it appears ferrous scrap prices for October will settle down $20/GT on prime grades and sideways for obsoletes. Most Steel Market Update sources expect scrap prices to start moving higher in the months ahead. “After Cleveland-Cliffs bought busheling last week basically sideways, the U.S. mills stubbornly waited a week […] The post Prime Scrap Trades Down $20/GT in October appeared first on Steel Market Update.
U.S. ferrous scrap prices have settled up $60 per gross ton on prime grades and up $50 per gross ton on obsoletes, according to market participants. “Regional markets were very consistent with the up $50 (per gross ton) on obsolete grades and up $60 (per gross ton) for primes,” one scrap executive said. “This resulted […] The post June Scrap Up $50-60/gt – Sideways in July? appeared first on Steel Market Update.
Ferrous scrap prices declined by $30-40 per ton in January—a month that typically sees prices rebound. Some scrap experts predict the downtrend may continue. How low prices could go is a source of some disagreement. January scrap settled at the following numbers in various regions, report SMU sources: Midwest/Ohio Valley: Shred – $330-335/GT; HMS – […] The post Will Ferrous Scrap Prices Continue to Decline? appeared first on Steel Market Update.
Ferrous scrap prices have risen for the second month in a row as November buys settled early at up $10 for prime grades and up $20 for obsoletes, report Steel Market Update sources. “Dealers and mills both wanted to wrap things up given that November is a shorter shipping month and they need to get […] The post Ferrous Scrap Prices Up Again in November appeared first on Steel Market Update.
Scrap is trading lower in August. Steel Market Update sources in the ferrous scrap market report that the price of obsolete grades has declined by about $20 per ton and prime by $10 per ton. Weakness in foreign markets has reduced scrap exports, increasing the domestic supply. “Looking forward, I don’t expect prices to really […] The post Ferrous Scrap Prices Down in August appeared first on Steel Market Update.
Following on declines in August and September, ferrous scrap prices in October are settling at an increase of $20 per ton for prime grades and $10 per ton for obsolete grades, according to Steel Market Update sources. A dealer in the Northeast reports that the Detroit market has bought Busheling at $390/GT, up $20; Shredded […] The post Ferrous Scrap Prices Up in Early October Trades appeared first on Steel Market Update.
Most Steel Market Update sources expect prime scrap to increase by about $10 per ton in July, with the price of obsolete grades moving sideways. “Strong demand and lagging deliveries are the driving factors in the July market. Mills will be reluctant to cancel outstanding orders for fear of losing scrap to other mills and […] The post SMU Sources Predict $10 Increase for Prime Scrap in July appeared first on Steel Market Update.
Ferrous scrap prices have risen at a greater rate than expected by sources quoted in Steel Market Update last month. Scrap guru Mike Marley of World Steel Exchange Marketing reports that recent price increases have varied by region to region, and even within a few regions. In the North, shredded and cut grades are up […] The post Ferrous Scrap Prices on the Upswing appeared first on Steel Market Update.
The January buy period saw ferrous scrap prices move significantly higher, lending support to recent mill price increases. While February is historically a down month for scrap, sources predict that February prices will be as high or even higher than January’s. January ferrous markets ended higher by $30 per gross ton for obsolete grades and […] The post Ferrous Scrap Prices Trending Higher in January, February appeared first on Steel Market Update.