Midwest scrap market settles flat for January

Jan 07, 2013 | 05:58 PM | Sean Davidson

Tags  scrap, ferrous scrap prices, Sean Davidson

NEW YORK — Midwest ferrous scrap prices have settled sideways for January as dealers gave in to mills’ demands for unchanged prices to kick off the year, bucking historical trends.

Most Midwest mills in the Chicago, Detroit and St. Louis areas completed trading between Friday and Monday, sources said, as numbers identical—or nearly identical—to those in December poured in.

It was the first time since January 2009 that ferrous scrap prices did not strengthen from December to January, and the break from typical patterns caught many off guard.....

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