Detroit leads off Nov. scrap trading
Nov 06, 2013 | 12:59 PM
| Sean Davidson
NEW YORK Ferrous scrap prices have traded at least $25 per gross ton higher in markets like Detroit and Chicago after several steel mills finally offered firm prices Nov. 5.
Across all scrap grades, prices jumped between $25 and $35 per ton, depending on last months price, scrap type and delivery location, market participants said.
Over the past few days, mills in several regions locked in volumes on to-be-determined prices, ensuring that their needs were met while waiting for additional cues on final pricing, market participants said.
Mills in the Detroit region were again the first in the Midwest to officially enter the market this month at bids of $30 per ton above October levels. Sources said only one mill in the region is believed to have conducted business below those levels.....
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.