Scrap price sentiment said improving for Sept.

Aug 20, 2014 | 04:12 PM | Sean Davidson

Tags  scrap, ferrous, shred, HMS, heavy melt, prime scrap, primary scrap, Chicago Midwest

NEW YORK — Strengthening steel mill order books, finished steel prices and ferrous scrap export prices, combined with tighter scrap supply and transportation issues, have boosted market sentiment for domestic scrap prices in September.

Market participants polled by AMM in an informal survey were more bullish on southern markets, while Midwest market participants exercised more caution when speculating about price trends for next month. Nonetheless, two-thirds of survey respondents in the Midwest said they expect prices to increase in September, while one-third expect prices to remain unchanged.

Of those in the Midwest anticipating an uptick in prices, most said that prices could increase by up to $10 per gross ton while 11 percent felt tags could increase by as much as $20 per ton.

Nearly 86 percent of the survey respondents in the South and Southeast expect prices to increase in September, with an even split between those anticipating increases of up to $10 per ton and those pegging increases at between $10 and $20. Only 14 percent of those polled in the South and Southeast said they expect prices to remain unchanged.....

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