Ferrous scrap futures contracts quiet on uncertainty

Feb 26, 2013 | 03:39 PM | Lisa Gordon

Tags  busheling, Midwest No. 1 Busheling Ferrous Scrap Futures contract, CME, scrap prices, Lisa Gordon

PITTSBURGH — The ferrous scrap futures market is having a quiet month, even on expectations that prime scrap prices will rise in March.

Mill buyers and scrapyards are still monitoring activity and setting up trading accounts on CME Group Inc.’s U.S. Midwest No. 1 busheling ferrous scrap futures contract. One mill source indicated that he plans to hedge scrap when he senses the timing is right.....

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