Shredded scrap prices seen falling nearly 80% in 2009
Nov 18, 2008 | 11:09 AM
| Paul Schaffer
The price of shredded steel scrap, recently $125 a long ton, is pegged at an average of $410 per ton for this year, according to the research unit of investment bank New York-based Morgan Stanley Group Inc. However, that value will fall an estimated 79.8 percent to $228 per ton before rebounding to $358 per ton in 2010, it added.
"We expect scrap prices to rebound in 2010 and to rise thereafter," according to Morgan Stanley analysts Mark Liinamaa and Evan Kurtz. "We believe only moderate demand recovery is necessary to reinflate scrap prices," according to their Nov. 18 report.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.