Philly scrap prices seen falling in February
Jan 27, 2014 | 05:03 PM
| Sean Davidson
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 Americas decision to halt output at its Claymont, Del., operations (amm.com, Oct. 14), and the complete closure of RG Steel LLCs operations at Sparrows Point, Md., halved the domestic demand that Philadelphia region suppliers counted on when exports were weak.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.