Scrap Prices North America
October 5, 2017
Scrap Moving Toward Down $30-$40 Per Gross Ton
Written by John Packard
Steel Market Update (SMU) has been speaking with a number of our ferrous scrap sources over the past few days to get a better feeling as to where scrap will trade for the month of October. Early reports are that Detroit (which tends to lead the charge most months) saw cut/obsolete grades down $30 per gross ton while prime grades like #1 busheling dropped by $40 per gross ton. Ferrous scrap prices are under pressure across the country, but as of late Wednesday were still in negotiation with most dealers.
One of our scrap sources provided some insights into the status of negotiations and where they felt from their East Coast perch scrap prices would ultimately settle for the month of October:
