Regional Scrap Prices Come into Focus

On Thursday we reported scrap prices moved sideways on certain grades in the east and were down by as much as $30 per gross ton the further west you went. Chicago ended up the week with the weakest prices as many mills did not buy due to tepid demand and a desire to drive inventories down.

Over the weekend we got better clarification from various scrap sources as to how trading went and what were the main catalysts pushing prices by region.