Early signs point to Oct. scrap price fall

Sep 21, 2012 | 02:34 PM | Lisa Gordon

Tags  scrap prices, shred, prime, steel mills, shredder, scrapyard, scrap, 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 didn’t 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.....




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