Ferrous Scrap Expected to Settle Up $20 for March

Ferrous scrap prices are expected to settle around $20/GT higher for March following weakness in January and February, report Steel Market Update sources.

“The March domestic market seems to have $20/GT baked into it,” commented one dealer in the Northeast. “Poor inflows due to bad weather and seasonality, along with a stronger export market, are pushing prices higher to meet continued solid demand from U.S. mills.”