22
May
17:39
Uncertainty reigns in US scrap market
Uncertainty continues to define the US scrap market, Kallanish reports.
A tight scrap supply in March led to a brief increase, which was followed by a $20/short ton drop in April. Scrap prices fell again in May between $20-30/st in many US markets.
Early spring price hikes by mills did not hold and some sources speculate that erosion in new steel prices in a soft economy looks to slow movement on scrap prices into the summer months.
Other sources say …
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Anonymous
Very good overview of the weekly steel market.
Anonymous