Detroit sets tone for flat Midwest scrap market
May 02, 2012 | 05:29 PM
| Sean Davidson
NEW YORK Midwest ferrous scrap markets have indicated a predominantly sideways trend for this month after Detroit steelmakers settled at prices that were unchanged from April across all grades.
Market participants said an unchanged Detroit market could set the tone for consumers in Chicago and St. Louis, but some said consumers were attempting a slight downward push on prime grades in Chicago.
"Chicago looks like a sideways market at the moment. Most mills are in the market, which could settle late Wednesday or early Thursday," one large broker said.
However, a second broker said consumer offers from Chicago were sideways to off "a little bit" on prime grades.....
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.