Ferrous Scrap Prices Settle Down $20-30 in September

Ferrous scrap prices in most regions have settled down by $20 to $30 per ton in September and could fall further in October as mills schedule maintenance outages, report some Steel Market Update sources. Others believe stronger export demand could help sustain prices next month.

Prime grades declined by $20, while obsoletes dipped a bit more in some regions, reported Ryan McKinley, steel analyst for CRU North America. Strong flows into dealers’ yards continued in August despite lower scale prices, but whether that will continue this month is unclear. “About half of the dealers I talked to say flows have slowed very little despite falling scale prices. The other half say their flows have been affected and they are seeing a noticeable slowdown.”