Midwest shredded scrap prices poised to rise

Dec 03, 2013 | 05:15 PM | Sean Davidson

Tags  scrap, Midwest scrap, heavy melt, HMS, shredded scrap, busheling, bundles, prime scrap ferrous scrap

LONDON — In the Midwest scrap market, shredded and obsolete grades are likely to receive a bigger boost in December pricing than prime grades of scrap, according to early speculation.

Anticipated tightness in the supply of obsolete scrap material into dealer yards and the wide price gap between November prices for prime scrap and shredded scrap are seen driving the difference in price trends for December, according to several market participants.

Most sources reported a fairly quiet market over the past couple of days, with a few scattered deals and some volumes traded on a to-be-determined pricing basis.

However, overall market sentiment has turned a little more bullish on prices for shredded scrap and obsolete grades such as heavy melt.....

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