Ferrous scrap poised for slight gain in Dec.

Nov 20, 2013 | 04:39 PM | Sean Davidson

Tags  scrap prices, ferrous scrap, steel scrap, December outlook, Sean Davidson

NEW YORK — Ferrous scrap prices in U.S. markets are likely to trend sideways or record a minor uptick in December, according to market participants.

Most market players surveyed by AMM said scrap prices in the Midwest and other regions are likely to either stay unchanged or increase up to $10 per gross ton from November.

Significant movements, they speculated, would come around the turn of the year.

Many suggested that mills likely bought additional scrap volumes in November to cover some ground for December, putting a damper on any efforts to push for big increases.

Scrap dealers said they would hold on to scrap volumes in the hope of a big increase in January or February.....

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