Jan. scrap market quiet as suppliers await bids
Jan 02, 2013 | 05:03 PM
| Sean Davidson
Tags
scrap,
ferrous scrap prices,
Sean Davidson
NEW YORK — The first signs of where domestic ferrous scrap prices could settle in January are unlikely to emerge until late this week as mills have yet to trade for the month.
As of midday Wednesday, sources said some mills had made inquiries about scrap but none had offered any indications on price.
Most market participants said price trends will become clearer between Friday and Monday, although a handful of players said the market could see some low-volume trading as early as Thursday. On Wednesday, most continued to speculate that prices would be flat to up $20 per gross ton from December levels, as previously reported (amm.com, Dec. 21).
"Many (mills) would buy sideways, but offers are sparse and all up $15 to $20, so no buyers. I see half the nation sideways and the other half at plus $15," said one source, who speculated that mills in Chicago and the South will trade sideways, with Ohio, Pennsylvania and the Carolinas trending up.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute — no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Subscribe Now
Click Here
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.
Take a Free trial
Click Here