Scrap Prices North America
March 5, 2015
Early Reports Have Obsolete Scrap Sideways While Primes Down $20
Written by John Packard
Warning: You can drown reaching for the bottom…!
Steel Market Update (SMU) is learning that the ferrous scrap deals which were done earlier this week in Detroit and in northern Ohio were done at sideways pricing on obsolete grades (such as heavy melt and shredded scrap) while primes grades (Busheling/bundles) dropped $20 per ton. However, as the week progressed some of the weakness was eliminated and prices moved sideways (and we even heard of some up $3-$5 per gross ton on obsolete grades).
