Scrap Prices North America
December 6, 2015
December Scrap Prices: Sideways to Up $20
Written by John Packard
Ferrous scrap prices are one of the key indicators to watch as the market determines if we have reached the bottom in the slide in flat rolled prices and, if prices will rebound from here. The thought process has been that a move higher in scrap will help change the psychology of the market and provide some footing for the domestic to push for higher prices.
By the end of this past week Steel Market Update was learning from our sources that prime grade scrap pricing was moving sideways (busheling and bundles). Prime grades have been in over-supply lately due to strong flows coming out of the automotive stamping plants while at the same time the flat rolled mills that use bundles have had tepid orders books. At least up until now.
