Scrap Prices North America
January 27, 2015
Ferrous Scrap Prices Poised for Sharp Downturn in February
Written by John Packard
During Nucor’s earnings conference call the company’s CEO, John Ferriola told the analysts that scrap prices would drop “dramatically” during the 1st Quarter 2015. He told the analysts that steel prices have already gone down and scrap prices “have to” follow.
Our scrap sources are telling us that lackluster demand at the steel mills, weak export market and declining iron ore prices are precursors to a continued price correction for ferrous scrap.
