Early scrap sales signal a seller’s market in Jan.

Jan 03, 2014 | 01:05 PM | Lisa Gordon

Tags  ferrous scrap, scrap prices, busheling, shredded, bundles, scrap demand, Lisa Gordon

PITTSBURGH — Early scrap sales at the start of the new year could bring another robust month for obsolete grades, while the outlook doesn’t bode as well for prime grades due to ample supply.

One shredder reported a sale into an Ohio mill at $440 to $455 per gross ton, up $20 to $25 from December levels, while another shredder said he unloaded a large quantity into the Midwest at a $15 to $20 premium.

Scrap dealers are also shipping material out on a to-be-determined basis to accommodate mills that ended the calendar year with low inventories on the ground. Dealers don’t always agree to sell for an unspecified price in an up market but are doing so because they are confident of its strength.....

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