Shredded scrap prices may support beam hike

Nov 11, 2013 | 11:14 AM | Frank Haflich

Tags  steel, structural steel, beams, Gerdau Long Steel North America, Steel Dynamics, SDI Structural and Rail division, Nucor, Nucor-Yamato Steel price increase

LOS ANGELES — A boost in a benchmark scrap price may bolster the chances for increased structural steel tags to succeed.

AMM’s consumer buying price assessment for shredded automotive scrap in the Chicago market rose to $390 per ton last week, up $31 from October. This would appear to satisfy some participants, who said earlier that the market needed to see a scrap increase of at least $25 per ton for any price....

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