Ferrous Scrap for January Up Another $90-100 a Ton

Late this week with talks ongoing, it appeared ferrous scrap prices for January would settle up by another $90-100 a ton, reported Steel Market Update sources, on top of a $70-100 a ton jump in December.

Complicating negotiations were the many different settled price levels in December. January will see significant increases in all prices and most likely a more common price level for each grade than in December, noted one dealer in the Northeast. He estimated the various grades in the Ohio Valley and Midwest would fall into these ranges when trading concludes: Shred $475-500; P/S $475-495; Bush $500-525; and HMS $440-460.