Ferrous Scrap Prices Poised to Move Sideways as we Get into April Negotiations?

There is no joy in Mudville in the middle of March, the scrap market is dead and no mills are looking to add to their inventories. For that matter the dealers have very little to offer as the weather has yet to clear up north and the big move lower in scrap prices in February are making those tearing down buildings have second thoughts.

Our scrap sources are advising that there should be little movement in ferrous scrap pricing as we move into April. We may see a few dollars here or there, especially on prime grades like Busheling and bundles which may have over-corrected in early March.