Shredded logs biggest gains in Midwest mart

Dec 06, 2013 | 06:48 PM | Sean Davidson

Tags  ferrous scrap, No. 1 busheling, Midwest scrap market, shredded scrap, scrap prices, Sean Davidson

LONDON — Shredded scrap prices have recorded the largest gains in key Midwest markets, with prime grades the weakest in trading for December.

Market sources indicated that several Midwest steel mills have concluded their buying programs for the month, with a handful expected to wrap up their purchases during the second week of December.

Detroit- and Chicago-area mills trended sideways on No. 1 busheling and raised prices for plate and structural scrap by $20 per gross ton compared with November levels, while shredded scrap tags jumped $30 in Detroit and $25 in Chicago.....

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