Detroit settles up $30/T on major scrap grades

Nov 06, 2013 | 06:19 PM | Sean Davidson

Tags  ferrous scrap, mill purchases, prices, AMM price assessments, monthly buys, scrap grades, heavy melt, plate and structural P&S

NEW YORK — Detroit’s scrap market was again first to settle this month, with most mills completing their purchases by Nov. 6.

Supplier resistance to increases of $25 per gross ton paid off as mill buyers increased monthly prices by $30 per ton on major grades like No. 1 busheling, shredded scrap and plate and structural scrap. However, regular buying by one steel mill in the region that has moved away from purchasing scrap only at the start of every month resulted in a smaller increase for Detroit’s heavy melt market.....

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