Ferrous Scrap Prices to See Big Bump in December

Ferrous scrap prices are expected to see a strong finish to 2020, say the experts, rising by an estimated $35-55/GT, lending support to finished steel prices that also continue to rise. Except for some slight weakness in October, ferrous scrap prices have moved upward for the past three months, and that trend is expected to continue into the new year.

“All I can say at this point is that the market will be up significantly in December,” said one dealer in the Northeast. “Iron units globally are very tight including at scrap yards and steel mills, and demand globally is very strong. Export 80/20 prices are up nearly $40 in just the last several weeks. Expect the domestic market to track that high, at least.”