Final Thoughts
May 26, 2017
Final Thoughts
Written by John Packard
For our USA customers welcome back from the Memorial Day Holiday weekend.
Our scrap sources are advising us that as of today they are not aware of any cancellations of existing ferrous scrap orders by the domestic steel mills. This expectation is for a “soft sideways” market, meaning prices would remain the same, although there are some who think the South/Southeast may be down slightly due to better scrap flows due to some large demolition jobs in the South as well as what impact the foreign scrap bought by Nucor will have on supply. We will continue to watch the scrap markets closely and will report over the weekend or early next week once pricing comes into focus.
