Surprise! Scrap Prices Firming as February Negotiations Continue

The ferrous scrap markets have been all about doom and gloom up until the past couple of days. Obsolete grade and shredded scrap were reported trading down $25 per ton in Brazil. Prime grades were down $10 per ton. Our sources were telling us export prices were down and the exporters off the east coast were offering down prices into other areas of the country.

Now we are hearing of export trades on 80/20 mix to Turkey up $6 per ton and there is a question as to whether the Turkish buyers will be back for more in the coming days.