Steel Products
March 28, 2019
Consensus View: Ferrous Scrap Prices Under Pressure for May
Written by Tim Triplett
Finished steel price momentum has been particularly difficult to gauge of late and what happens to ferrous scrap prices next month may be telling. Scrap for May appears to be under pressure.
Despite relatively healthy U.S. steel demand and domestic mills cranking out flat rolled steel at nearly full capacity, scrap prices have seen declines in three of the first four months of 2019. The benchmark price for hot rolled steel has slid to around $675 from $730 per ton at the beginning of the year.
