CMC sees scrap prices rising in 2013: execs

Oct 24, 2012 | 05:08 PM | Lisa Gordon

Tags  shredded scrap, Commercial Metals, Americas Recycling, Joseph Alvarado, Barbara Smith, Lisa Gordon

PITTSBURGH — Scrap prices should reverse course in the near future as seasonal factors work to tighten the market, top Commercial Metals Co. (CMC) executives said.

"Scrap prices continue to move down as we begin our (new fiscal year), but we do expect a reversal of this trend during the winter months when supply tightens," CMC president and chief executive officer Joseph Alvarado said in a fiscal fourth-quarter earnings call Wednesday, adding that while prices are expected to recover it is unclear....

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