Scrap prices poised for Nov. gains: Sims

Oct 30, 2013 | 03:20 PM | Sean Davidson

Tags  Scrap, ferrous scrap, Sims Metal Management, Blake Kelley, BIR, Bureau of International Recycling, bulk cargoes, Sean Davidson

WARSAW, Poland — U.S. trade opinion expects November ferrous scrap prices to increase significantly, especially for prime grades, according to Sims Metal Management Ltd. vice president Blake Kelley.

Current global economic conditions appear better than in recent months, and steel production likely will remain at least at near-record rates, although competition for steel sales is severe, Kelley told delegates at the Bureau of International Recycling’s autumn conference in Warsaw, Poland, Oct. 28.

"Raw material sales volume will be at corresponding levels. Prices may increase further, especially as we move into months prone to seasonal supply disruptions. In the end, scrap prices will remain related to the cost of blast furnace iron; however, excess capacity will continue to limit margins for steelmakers, miners and scrap processors," he said.....

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