Ferrous scrap prices rise as Detroit enters mart

Jan 08, 2014 | 05:12 PM | Sean Davidson

Tags  errous scrap, HMS, heavy melt, plate and structural, busheling, Sean Davidson

NEW YORK — Ferrous scrap trading kicked off in earnest in the Midwest as mills in the Detroit area finally entered the market Jan. 8 with bids up between $10 and $20 per gross ton from December, depending on scrap grade and mill needs.

Market participants in the Detroit area said No. 1 busheling rose by $10 per ton from last month, while shredded scrap trades were reported $20 higher.

While one consumer source reportedly secured some plate and structural scrap at a $10-per-ton-increase, other mills reportedly have paid $15 per ton more than last month for obsolete grades like plate and structural and heavy melt scrap.....

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