Ferrous Scrap Prices Up in November

Ferrous scrap prices traded $15-25/GT higher in November, with some variation by region, report Steel Market Update sources. Scrap prices were widely expected to rise in November due to slowing scrap flows, mills returning from seasonal outages, rising import demand and the onset of winter weather in some parts of the country.

“Mills’ appetite for scrap certainly seemed to grow as the trading period went on,” commented one dealer. “The Southeast was the strongest region, while the Midwest—specifically the Ohio Valley and Chicago districts—was the weakest.”