Steel scrap prices expected to stay flat
Jul 25, 2013 | 04:15 PM
| Sean Davidson
NEW YORK Ferrous scrap prices for prime grades in the Midwest are likely to trade sideways in August, with obsolete grades and shred expected to come under a little pressure, according to early market speculation.
Most market sources suggested that scrap prices on all grades will stay mostly unchanged from July levels, while only some sources speculated that shred and cut grades could trade about $5 to $10 per gross ton under July prices.
A few sources said shred could lose some ground, given the volume on offer after Julys buying programs concluded, but one Chicago-area dealer said he was confident the market would trend sideways after concluding an early sale for August to an area mill at prices unchanged from July.
Other large suppliers and consumers agreed.
"I see it sideways for August. I dont see a reason for too much change," a source at one large supplier said.....
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.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.