Mart sees scrap prices holding steady in Aug.

Jul 22, 2014 | 06:03 PM | Sean Davidson

Tags  scrap, ferrous, Chicago, Midwest, busheling, heavy melt, HMS, Sean Davidson

NEW YORK — Domestic ferrous scrap prices could trend sideways in August as early speculation points to a market that is in relative balance.

An overwhelming majority of mill buyers and scrap suppliers believe August is poised for a sideways market, according to an informal survey conducted by AMM.

Only one-fifth of the respondents speculated that prices could dip slightly lower in August, while about 10 percent of respondents said prices could trend higher.

Market participants for the most part expect prices to remain unchanged next month, with decent scrap flows into dealer yards offset by better demand from mills and logistical issues in some regions.....





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