Scrap Prices North America
April 7, 2015
Midwest Ferrous Scrap Pricing Slow to Develop, Expect Sideways Price Movements
Written by John Packard
Our scrap sources are advising Steel Market Update that the scrap markets in the Midwest have been slow to settle with only a few deals done as of Tuesday morning. The expectation by those involved in the Midwest ferrous scrap markets is that the transactions will be completed over the next day or two. Most involved in the industry are expecting sideways movement of scrap prices for the month of May.
There continues to be an over abundance of prime grades (busheling and bundles) and our sources tied to the Detroit market are advising their prices on primes could be down $5 while everything else is expected to move sideways. As of this morning, Detroit trading had not yet been completed.
