Ferrous falls up to $30/t, obsolete grades do best
Nov 12, 2007 | 10:47 AM
| Michael Marley
Prices for such prime industrial steel scrap grades as No. 1 bundles and busheling slumped as much as $30 a ton this month while offers for such obsolete scrap as No. 1 heavy melting steel and shredded fared a bit better, declining by only $5 to $10 in some regions.
The slide in the dealer scrap markets was fueled in part by the $25-a-ton decline in the price of the auto industry's factory bundles auctioned late last month. A slide was anticipated, especially in the last week of October as the date for the auto bundles sale approached, although it was about $10 more than many scrap brokers and processors had expected.
In the previous auto scrap sale one month earlier, the prices were unchanged. But the dealer market that followed that sale was weaker, with prices sagging by about $10 a ton on average and continuing to inch downward throughout October.....
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.
Subscribe Now
Click Here
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.
Take a Free trial
Click Here