Evraz spec switch shakes Philly scrap market
Aug 08, 2013 | 06:29 PM
| Sean Davidson
NEW YORK Philadelphia ferrous scrap dealers faced a new challenge this month after one of the three steel mills they supply changed its specifications for two key grades.
According to several sources, Evraz Inc. North Americas Claymont, Del., mill asked dealers to supply 3-foot plate and structural scrap (P&S) and 3-foot No. 1 heavy melt scrap (HMS) this month without any warning that such a change was imminent.
Dealers have historically sold the mill standard 5-foot specification product, and were only informed of the change late last week, sources said.
The sudden shift was triggered by Chicago-based Evraz NAs strategy to reduce its melt to a two-bucket charge from a three-bucket charge in order to lower operating costs, sources said.....
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