Scrap Prices North America
July 9, 2017
Scrap Prices Sideways to Slightly Higher for July
Written by John Packard
As expected, ferrous scrap prices traded sideways (July delivery to be the same as June) in most markets. Of course, having just said that, we do need to point out that the steel mills sourcing scrap from the East Coast had to pay $10 per gross ton more in order to keep scrap from moving to the export markets. Our sources also advised that prime scrap continues to be tight in the Great Lakes, where prices went up by $10 per gross ton. Even so, Pete Myers of Metalico told SMU, “Note, even with these increases price levels in the Great Lakes and Chicago still remain well below regions to the east and south.”
Myers went on to say, “With mills returning to normal demand in August and strong export sales through 8/31, participants are bullish for next month.”
