Final Thoughts
March 10, 2017
Final Thoughts
Written by John Packard
The scrap market created a lot of buzz over the past two months that resulted in, so far, two domestic steel mill price increases totaling $60 per ton ($3.00/cwt). I got a note over the weekend from one of the national companies who told me about the scrap markets, “There is a sense the market is overextended at this point, especially on prime grades. I’m not sure we’ll necessarily see a significant pullback in April given ore-based metallics prices and robust demand, but a pause and/or slight pullback would not be surprising.”
The scrap markets ended up as follows:
