Scrap Prices North America
August 7, 2014
August Scrap Numbers Moving Sideways, Pig Iron Firming
Written by John Packard
Ferrous scrap prices in the Midwest, Mid-Atlantic and East Coast have been moving sideways as the August negotiations come to a close. We are hearing from our scrap sources that the balance between supply and demand is quite good as flows have been solid and mill orders books are “decent.”
Our scrap sources in Chicago are calling prices as sideways even with the #7 blast furnace coming back online at Indiana Harbor (ArcelorMittal). The East Ccoast is also reporting prices as sideways and most of the Midwest cities are reporting sideways pricing. We heard from Mike Marley of MetalPrices.com that there were some higher prices being reported in the South. All in all the sideways pricing should be good news for the steel mills who are enjoying a nice spread between scrap pricing and hot band pricing.
