Final Thoughts

A quick note about ferrous scrap. From the early deals being done – and there are still a number yet which need to be completed. Our sources are advising us that scrap prices have been trading lower by $5 to $10 per gross ton in the east.  However, in the Midwest there have been trades made in the Chicago/Northern Indiana markets at the same numbers as September. We are hearing prime grades of scrap such as busheling traded sideways in Cincinnati and in Ontario.  In Pittsburgh and Birmingham we heard primes off $5 per gross ton. The market appears to be a little better than what one dealer had forecast over the weekend when he projected prices to be lower by as much as $20 per gross ton on prime grades.

Peter Wright mentioned in an article above how the shutdown of the government is affecting public data which is released on a daily, weekly or monthly basis.  One of the items affecting are imports and exports. The U.S. Department of Commerce website concerning imports is usually updated every Tuesday around 5 PM ET. No update this week.