Scrap Prices North America
February 3, 2015
Ferrous Scrap in Free Fall?
Written by John Packard
The domestic steel mills and their ferrous scrap suppliers traditionally negotiate pricing on scrap to be delivered during the first few days of the new month. This means the mills and their suppliers are deep into negotiations regarding February scrap purchases right now.
Last week the word amongst the “scrappies,” as well as their mill customers, was to expect a major reset in scrap prices. The domestic mills spoke about the reset during their earnings conference calls with analysts last week. The numbers being floated were for scrap to drop by $50 per gross ton and perhaps higher.
