Ferrous Scrap Prices Poised for Big Jump in March

Ferrous scrap prices are expected to rise anywhere from $40-70/GT in March after declines in February, lending further support to higher finished steel prices.

Scrap prices are likely rise in March by at least as much as they fell in February, said CRU Senior Analyst Ryan McKinley. “The cold snap over the last few weeks affected almost the entire continental United States, with 70% of its landmass covered in snow. This, in conjunction with lower prices month over month, helped slow obsolete-grade scrap flows even as mill demand remains high.”