Beam buyers wary as scrap mart loses steam
Nov 27, 2012 | 05:40 PM
| Frank Haflich
Tags
steel,
wide-flange beams,
structural steel,
steel prices,
Schnitzer Steel Industries,
scrap,
scrap prices,
Frank Haflich
LOS ANGELES — Signs that scrap prices are losing steam, combined with a continued lag in structural steel demand, have some steel buyers altering their outlook for wide-flange beams.
"A month ago, everyone was expecting things to improve pricewise," a southeastern distributor said. "Now, that isn’t necessarily the case."
Major structural producers—following a $52-per-ton boost early this month in AMM’s consumer buying price for shredded automotive scrap in the Chicago market, the basis for many mills’ surcharges—have raised their published transaction prices on wide-flange beams by $35 per ton to $780 per ton ($39 per hundredweight) f.o.b. mill on most core sizes (amm.com, Nov. 19).....
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