Midwest Ferrous Scrap Index settles sideways

Dec 10, 2012 | 06:06 PM | Sean Davidson

Tags  AMM Midwest Ferrous Scrap Index, steel mills, scrap prices, busheling, heavy melt, shred scrap, Sean Davidson

NEW YORK — AMM’s Midwest Ferrous Scrap Index settled sideways for December after a weak export market and lower demand from several steel producers prevented prices from rising.

Attempts to send prices below November’s levels were blocked by suppliers who threatened to stall supply as they wait for higher tags, market participants said.

Midwest pricing for No. 1 heavy melt, shred and No. 1 busheling scrap in the Midwest recorded minor shifts downward, with only heavy melt losing more than a dollar per gross ton. ....

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