CMC sees scrap prices heading lower

Oct 28, 2011 | 03:12 PM | Lisa Gordon

Tags  scrap prices, ferrous, nonferrous, Commercial Metals, Joe Alvarado, Lisa Gordon

PITTSBURGH — Scrap prices have come under pressure and the downside appears to be picking up momentum, according to the top executive at Commercial Metals Co. (CMC).

"Scrap prices have been pretty steady over the last nine months (until recently). We are expecting further erosion (in November). There are estimates on the street of $20 to $40 in the month, and that doesn’t seem unreasonable," Joe Alvarado, CMC president and chief executive officer, said during....

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