Scrap Prices North America
July 9, 2019
July Scrap Down Just $10—Is This the Bottom?
Written by Tim Triplett
Ferrous scrap prices for July settled down $10 per ton in the Western Pennsylvania/Ohio/Indiana markets, stayed sideways in the southern markets, and saw a combination of the two at points west, reported Steel Market Update sources. “This is a far cry from recent expectations of down $20-30/GT and represents what I believe is the bottom of the ferrous scrap market,” said one scrap exec, echoing a common theme.
He noted that the country’s largest scrap consumer was the most aggressive buyer with regards to price, entering the national market at sideways rather than attempting to drop prices. “It remains to be seen if August prices rise as there is still lackluster demand at most mills,” he added.
