Structural steel seen flat as scrap holds

Dec 06, 2012 | 04:24 PM | Frank Haflich

Tags  structural steel, shredded scrap, construction, Frank Haflich

LOS ANGELES — Structural steel prices are expected to remain steady through year-end as buyers look for the market to improve in 2013.

AMM’s consumer buying price for shredded automotive scrap in the Chicago market remained at $386 per ton this week, dampening speculation that wide-flange beam tags might weaken through the end of the year.

Previously, buyers thought that any significant fallback in the Chicago scrap benchmark—the primary component of some mills’ raw material surcharges—after it rose $52 per ton in November could prompt mills to shave beam prices, which increased by $35 per ton for December.....





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