Scrap Prices North America
October 6, 2015
Pressure Will Continue on Ferrous Scrap Prices
Written by John Packard
The U.S. is not (yet) a closed market and therefore we have to remain aware of what is going on around the rest of the world and especially in China (iron ore/billets/steel) and Turkey (scrap).
Ferrous scrap prices are expected to drop significantly for October 2015 shipment. When we checked with a couple of our scrap sources early in the week we were told many of the deals with the mills are still based on TBD (to be determined) pricing. The expectation is for the market to firm up by the end of the week and we should have a better handle on ferrous scrap pricing as we head into Thursday or Sunday’s issue of Steel Market Update.
