Scrap Prices North America
July 8, 2014
Scrap Market Has Upward Blip Now Trending Sideways
Written by John Packard
The Detroit scrap market settled on Monday with cut grades (such as heavy melt or HMS) rising by $10 per gross ton and shredded scrap by $15 per gross ton. Prime grades, such as #1 busheling traded sideways compared to last month.
Our scrap sources are telling us that the best deals made (from a trader’s perspective) were made late last week. Since then prices have come back in (lower) and those steel mills who waited have been able to get better deals.
