Ferrous scrap price volatility 'hurts': CMC

Mar 28, 2013 | 03:36 PM |

Tags  ferrous scrap, scrap prices, Commercial Metals Co, CMC, Joe Alvarado, Barbara Smith, Sean Davidson

NEW YORK — Ferrous scrap prices in the United States will fluctuate by between $10 and $20 per gross ton over the next few months, the top executive of Commercial Metals Co. (CMC) forecast.

“These price fluctuations will likely vary by region,” CMC chairman, president and chief executive officer Joseph Alvarado told analysts on a March 28 earnings call, noting that current demand for scrap is steady in the United States but weak internationally.
Scrap prices will remain somewhat volatile over the next few months, which will continue to adversely impact the recycling industry, Alvarado added, calling scrap price volatility the industry’s biggest challenge. ....

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