Southeast scrap run-up starts to lose traction

Aug 03, 2012 | 04:24 PM | Lisa Gordon

Tags  scrap prices, shredded scrap, turnings, Lisa Gordon

PITTSBURGH — The Birmingham, Ala., and Carolinas scrap markets remained active Friday, with local mills joining the national trend and paying much higher prices to secure their melting needs.

A mill in each region paid prices that were up an average of $60 per gross ton across all grades for its August requirements, but it was still unclear where the overall market would settle as too many players hadn’t yet completed their buys.

If fact, despite the upward trend, the market appeared to be losing strength as the week drew to a close.....

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