A wild year for scrap prices

Oct 31, 2012 | 07:00 PM | John Ambrosia

Tags  AMM Comment, AMM Steel Scrap Conference, Allan Goldstein, AMG Resources Corp., Institute of Scrap Recycling Industries’ Commodities Roundtable Forum, Steel Market Intelligence, John Ambrosia

What a difference a year makes. At AMM’s fifth annual Steel Scrap Conference in Chicago in November last year, much of the talk was about the remarkable run of stability the market had seen during 2011 up until then.

“The past 10 months have been a sea of tranquility in terms of pricing,” Allan Goldstein, president and chief executive officer of AMG Resources Corp., Pittsburgh, told conference attendees. “However, it changed this month and scrap took a tumble. It is always easier to analyze it after the fact, and I believe it is a sharp dip in export demand.” November was the first month last year to experience....

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