Scrap Prices North America
September 7, 2017
Steel Mills September Scrap Buy Surprises Dealers
Written by John Packard
Ferrous scrap prices were expected to rise by $20 to $30 per gross ton once the September negotiations began. By Thursday afternoon (today), we were learning that steel mills are suddenly able to buy at sideways numbers. We understand North Star BlueScope was able to buy September at the same prices as August. Other sources are advising that the upside potential is now $10-$15 rather than $20-$30.
Steel Market Update (SMU) is in contact with a number of ferrous scrap sources and we are being advised that the market is still in flux, and those anticipating higher prices than those collected in August may be disappointed.
