Factory bundle prices up $15 a ton for December
Dec 03, 2007 | 11:34 AM
| Michael Marley
Prices paid for the U.S. auto industry's factory bundles rose an average of $15 a long ton in buying that ended late Friday as steelmakers fought to secure supplies of prime industrial scrap, recouping part of the $25-a-ton decline seen last month to put the AMM Factory Bundles Index at $298 a ton for December.
The buyers included both integrated steelmakers and mini-mill producers of flat-rolled steel, industry sources said. Some were said to be actively seeking the bundles to ensure a supply of higher-quality steel scrap in the face of possible dealer resistance to selling much metal this month.
One Detroit-area broker said some mills were seeking this month's auto bundles because they fear dealers won't have much scrap to sell or might be unwilling to sell. Some mills have been operating with lower scrap inventories than in the past, he said. At the same time, there is strength in the domestic steel market because of low steel import levels.....
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.