Beams tumble $30/T as scrap price drops
Oct 11, 2012 | 04:48 PM
| Frank Haflich
ATLANTA Steel distributors are hoping a $30-per-ton price cut in wide-flange beams will revive a market that earlier this week was stalled as buyers awaited mills reactions to lower scrap tags.
Nucor-Yamato Steel Co., Blytheville, Ark., has been joined by the structural and rail division of Fort Wayne, Ind.-based Steel Dynamics Inc. (SDI) in lowering beam prices in the wake of a $47-per-ton drop in AMMs consumer buying price for shredded automotive scrap in the Chicago market, used to determine some mills raw material surcharges. Nucor Corp.s Berkeley,....
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