Weaker shred market drags down scrap prices

Sep 10, 2013 | 04:22 PM | Sean Davidson

Tags  Midwest Ferrous Scrap Index, shredded scrap, busheling, No. 1 heavy melt, Sean Davidson

NEW ORLEANS — Midwest ferrous scrap prices were once again dragged down by a relatively weak market for shred as prices for September fell as much as 3 percent compared with August.

Market participants said prices for cut grades such as heavy melt and prime grades such as No. 1 busheling were forced to follow declines in shred prices to maintain differentials between the grades.

From trading almost at par with each other to establishing a $40-per-ton spread in just a few months, busheling and shred have recorded unique moves in the past few months.....





Latest Pricing Trends

Poll

Are you stocking more inventory today than 18 months ago?

Yes
No


View previous results