Scrap prices poised for another weak month
Feb 26, 2014 | 04:53 PM
| Sean Davidson
NEW YORK Domestic ferrous scrap prices are expected to trend lower in March as lackluster export volumes and anticipated demand continue to tilt supply and demand fundamentals toward consumers.
Early speculation from market participants points to a market that could be down anywhere between $10 and $30 per gross ton for all scrap grades, with several sources speculating that the declines could land in the middle of that range at around down $20.
Midwest dealers, battered by winter storms that have resulted in weak collections of obsolete scrap, said they hoped March price movements would trend sideways to down $10 per ton since they need price support to encourage peddlers to gather and bring in better volumes.
Many claimed that Midwest steel mills didnt receive all the scrap they booked for February, mainly due to logistical issues that delayed the supply of rail cars.....
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.