BLS ferrous scrap price index tumbles

Nov 15, 2012 | 01:59 PM | Corinna Petry

Tags  Producer Price Index, PPI, Bureau of Labor Statistics, steel products, scrap, aluminum, copper and brass, Corinna Petry

CHICAGO — The iron and steel scrap producer price index (PPI) took a nosedive in October, falling 11.4 percent from the previous month and 27.3 percent from the same month last year, the latest Bureau of Labor Statistics (BLS) report shows.

"Scrap (prices) will be up for December," a bar market source said this week, "but who knows how long that lasts, because there’s not too much upside (for demand) after December."....

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