Scrap Prices Expected to Jump in April

Ferrous scrap prices are expected to rise $20 to $30 per gross ton in April, and possibly more, according to Steel Market Update sources. All grades are expected to see increases, and with relative parity across the country.

One dealer told SMU there is pressure on obsolete grades as the long winter has impeded the normal scrap flows. The gap between busheling and obsolete grades has narrowed. Based on iron yield versus price paid, busheling is a better deal and should see upward pressure. Mills in the South still need to draw busheling from the North, he noted.