Scrap Prices North America
August 9, 2015
Have Ferrous Scrap Prices "Bottomed"?
Written by John Packard
Over the weekend we received further updates on the status of the ferrous scrap markets in the United States.
We learned that US Steel Granite City had no scrap buys in July and we are hearing that they are passing on offers that are $30 to $45 per gross ton lower than their last buys (prior to July). We will want to watch Granite City to see if USS is perhaps targeting this plant for something or if they are preparing for a labor issue. SMU does not know and both suggestions are nothing more than rumors at this point. We did hear that the other US Steel mills did buy scrap for August.
