Ferrous scrap prices seen moving sideways
Apr 25, 2014 | 05:48 PM
| Sean Davidson
NEW YORK Midwest ferrous scrap prices will likely trend sideways in May according to early market speculation, with buyers and suppliers divided on whether the bias will swing marginally lower or higher.
Midwest mill buyers who responded to an AMM survey speculated a sideways to "soft sideways" market in May due primarily to warmer weather improving scrap flows into dealer yards. However, most Midwest suppliers who participated in the survey speculated that prices could trend completely unchanged from Aprils prices or a "strong sideways," which implies modest increases of $5 to $10 per gross ton.
At least one-third of Midwest respondents, however, speculated that prices could similarly trend toward a "soft sideways" in May, meaning a decrease of up to $10 per ton.....
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.