Scrap Prices North America
June 29, 2017
Ferrous Scrap: Sideways in July?
Written by John Packard
Steel Market Update (SMU) spoke with ferrous scrap executives about the outlook for the industry, not only looking at the upcoming negotiations with the steel mills for July shipments, but also the long-term view. The scrap industry is upbeat about its future as electric arc furnaces continue to take market share from integrated steel producers.
Like the rest of the steel industry, scrap dealers are expecting a strong steel market, bolstered by the expectation of a favorable Section 232 ruling from the Trump administration. The Section 232 decision is imminent and is already affecting offers for foreign steel for future delivery. The redistribution of steel sourcing could well drive the prices of flat rolled and other steel products higher.
