Early signs point to Oct. scrap price fall
Sep 21, 2012 | 02:34 PM
| Lisa Gordon
PITTSBURGH The ferrous scrap market is bracing for another precipitous drop in October, with mill order books showing holes and a shredder in upstate New York already offering material at prices that are down $35 per gross ton.
The New York player is offering more than 80,000 tons of scrap all along the East Coast, he confirmed to AMM. "I am out earlier than usual and no one has bought, but I didnt expect anyone to buy this early," he said. Grades being offered include 55,000 tons of shredded scrap and 20,000 tons of cut grades, with the remainder prime and miscellaneous scrap.
Despite dropping feedstock prices at his shredder by $29 per ton since Sept. 1, flows are still healthy, he said.....
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.