Shredded leads the way as Midwest settles

Jan 10, 2014 | 06:16 PM | Sean Davidson

Tags  ferrous scrap, steel scrap, Midwest scrap, heavy melt, shred, busheling, Sean Davidson

NEW YORK — Shredded scrap has emerged as January’s strongest scrap grade in the Midwest, followed closely by heavy melt and plate and structural scrap, as supply concerns offered obsolete grades more support than industrial scrap.

Market participants across the region concluded this month’s trading programs Jan. 10 with heavy melt and plate and structural rising $20 per gross ton in Chicago.

AMM’s January assessment for No. 1 heavy melt in Chicago settled at $420 per ton and 5-foot plate and structural plate was $434 per ton, both up $20 from December levels, while AMM’s January assessment for shredded scrap finished at $438 per ton, up $23 from December.....





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