Scrap Prices North America
June 28, 2015
Scrap Outlook for July: Sideways to Maybe Up $10
Written by John Packard
A little more than a week ago, Steel Market Update spoke at a Bank of America Merrill Lynch dinner in Chicago. In the audience were a couple of scrap companies who told us the mills in the Chicago area (ArcelorMittal in particular) have come back into the market to buy scrap after a lengthy absence due to excess inventories, taking down a furnace or two in the region and a short order book.
There has been some early trading in scrap in the Southeast and Ohio Valley, according to MetalPrices.com. Pricing, which was expected to rise $10-$20 per ton was reported as transacting at the same levels as June.
