No softening ahead for US scrap prices: Dienst

Aug 23, 2012 | 03:42 PM | Lisa Gordon

Tags  scrap prices, cargoe, export, Sims Metal Management, ArcelorMittal, Daniel Dienst, Lisa Gordon

PITTSBURGH — Domestic scrap prices are showing no sign of erosion in the near term as strong global demand and a decent U.S. appetite, among other factors, will work to keep prices from sliding, according to Sims Metal Management Ltd.’s top executive.

Daniel Dienst, chief executive officer of the world’s largest recycler, told inventors during a conference call Wednesday that after months of weakness, domestic scrap prices appeared to have found their floor in July.

"We are a bit on the flip side right now where the U.S. market has firmed significantly and moved higher. Some of that is being driven by disruption threats due to low river levels," Dienst said.....

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