Steel Products
October 26, 2017
Ferrous Scrap Pricing for November: Sideways, Higher, Lower?
Written by John Packard
When Steel Market Update (SMU) began talking to our ferrous scrap sources over the past couple of days, we got a variety of opinions as to where prices will go for the month of November.
From the East Coast we heard sideways was the most likely direction with a little “slightly stronger” for prime grades of scrap (busheling, bundles). The reasons being improved export pricing and seasonally slowing scrap inflows. At the same time, some of the tightening of supply will be offset by “U.S. domestic mill outages and less demand.”
