Scrap Prices North America
January 4, 2015
Scrap Prices Expected to Go Up in January in Short-Lived Rally
Written by John Packard
Most ferrous scrap pricing deals will be negotiated between the domestic steel mills and their suppliers over the next few days. Steel Market Update sources are telling us scrap prices could move up by $10 to $30 per gross ton or more depending on product and the region of the country.
Mike Marley of MetalPrices.com reported on Friday that scrap dealers are convinced prices will go up by $30 per ton or more and have therefore resisted taking offers at the up $10 to $20 which were being discussed last week. However, he pointed out that, “…several brokers predicted that the early sales will be the best deals. Once the mills have purchased all the tonnage needed for January, they will start lowering prices until they find a new floor.”
