Philly scrap prices seen falling in February

Jan 27, 2014 | 05:03 PM | Sean Davidson

Tags  ferrous scrap, scrap prices, Philadelphia market, Evraz, RG Steel, Claymont mill, Sparrows Point mill, ArcelorMittal scrap exports

CANCUN, Mexico — Ferrous scrap market participants in Philadelphia see prices weakening in February as a slowdown in exports has led to ample supply in the region.

With just two bulk sales off the East Coast in about six weeks and thin containerized scrap exports, even a significant drop in post-consumer scrap collection has done little to bring any semblance of supply-demand balance to the region, sources said.

The Philadelphia market has proved challenging for suppliers that once had the option of selling to four local steel mills and exporters.

Evraz Inc. North America’s decision to halt output at its Claymont, Del., operations (amm.com, Oct. 14), and the complete closure of RG Steel LLC’s operations at Sparrows Point, Md., halved the domestic demand that Philadelphia region suppliers counted on when exports were weak.....





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