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.....





Latest Pricing Trends

Poll

Are you stocking more inventory today than 18 months ago?

Yes
No


View previous results