June Scrap Up $50-60/gt - Sideways in July?

U.S. ferrous scrap prices have settled up $60 per gross ton on prime grades and up $50 per gross ton on obsoletes, according to market participants.

“Regional markets were very consistent with the up $50 (per gross ton) on obsolete grades and up $60 (per gross ton) for primes,” one scrap executive said. “This resulted in an almost universal delivered price range for the various scrap grades.”

Michael Cowden

Michael Cowden is managing editor for Steel Market Update. Cowden has covered the steel industry since 2007. He has since 2014 specialized in flat-rolled steel but has previously reported on steel long products, steel pipe and tube as well as aluminum. Before joining SMU, Cowden held reporting jobs at Fastmarkets AMM in Chicago - where he was involved in launching AMM's daily hot-rolled coil index, the Associated Press in Pittsburgh, and the Cambodia Daily in Phnom Penh. He has also worked as a copy editor and in marketing at the University of Chicago Press. Cowden has a BA in English from the University of Chicago and an MSJ journalism from Northwestern University’s Medill School of Journalism. Contact him at michael@steelmarketupdate.com or 724-759-7872.

Michael Cowden

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