Ferrous Scrap Prices Rise in April, to Decline in May?

Steel Market Update’s sources report that ferrous scrap prices have increased by $5 to $15 per gross ton in April, depending on the type and region. Some predict scrap prices are likely to decline in May.

Strong domestic demand is the key driver of rising scrap prices, said one dealer in the North. “With few exceptions, mills from Indiana to the Atlantic all raised prices for shred and cuts by $15 per gross ton. Prime scrap traded up $5 to $10. Shred, bundles, plate and bush are all trading in the $385 to $400 range,” he said.