Scrap Prices North America
August 4, 2016
Ferrous Scrap Trading Sideways on Obsolete to Down $10-$15 on Primes
Written by John Packard
SMU Sources are advising us that obsolete grades of ferrous scrap are trading sideways (prices remaining the same as last month) while prime grades move lower by $10 to $15 per gross ton in the Chicago, Ohio Valley, Detroit and Indiana markets. Prior to negotiations beginning, the expectation was for obsolete grades to remain intact while prime grades, like busheling and bundles, were expected to trade down $10-$20 per gross ton.
Dealers are telling us that the domestic mills (which includes long products as well as flat rolled mills) are telling the dealers there is lower demand and there are more imports of pig iron, DRI, etc. which are putting pressure on prime grades.
