Scrap Prices North America
May 8, 2016
Scrap Prices Move Higher Providing Support to Domestic Mill Price Increases
Written by John Packard
Scrap prices settled higher by $20 to $30 per gross ton delivered to the domestic steel mills, according to Steel Market Update (SMU) scrap sources. The rise in ferrous scrap prices has been one of the driving factors behind the flat rolled price increases announced by the domestic steel industry over the past few months.
We asked one of our sources in the Ohio Valley to explain what happened this past week as the dealers and steel mills negotiated prices for May delivery:
