Chicago scrap trade kicks off at flat levels

Jan 03, 2013 | 04:38 PM | Sean Davidson

Tags  scrap, ferrous scrap prices, Sean Davidson

NEW YORK — A steel mill in the Chicago area entered the scrap market Wednesday to secure metal at mostly unchanged prices, leaving market participants divided on whether overall price levels would rise this month as some had previously speculated.

A number of sources reported that a consumer entered the market early and successfully booked some obsolete grades at numbers that were sideways to last month. One source familiar with the mill said the consumer bought all the scrap it needed for January at mostly sideways pricing, although others questioned just how much volume the mill had actually secured.

Grades traded reportedly included heavy melt and plate and structural scrap, although the consumer has yet to fix prices on shred and prime grades, sources said.....





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