American MetalMarket

Magazine Issue: March/April-2013

Cover Story

Uncertainty rules scrap after Great Recession
Five years since the start of the Great Recession, the ferrous scrap sector is still trying to fully figure out where it’s been—and where it’s going—as mixed signals continue to pour in from the market, mills and economists.

Market Spotlight


  • Weather, sequestration affecting metals transportation

    The nation’s metals transportation sector breathed a sigh of relief in early March, when the U.S. Army Corps of Engineers said that the Mississippi River near Thebes, Ill., had finally been widened and deepened enough to allow normal barge traffic up and down the river.



  • Rail sector poised to make huge capital investments

    Rail transportation, the backbone of the nation’s metals sector logistics system, is poised to make major capital investments to add to its fleet in 2013 and beyond. Much of that capital investment is being fueled by a boom in domestic gas and oil production unprecedented since the 1950s.



  • Army Corps clears middle Mississippi River for transport

    Just in time for the spring ramp-up of barge traffic, the middle Mississippi River is finally wide and deep enough for near-normal seasonal navigation thanks to dredging projects and winter precipitation, according to a major barge operator and the U.S. Army Corps of Engineers.




From the Editor



  • Interview with scrap 'maverick' Adam Weitsman

    To some, Upstate Shredding owner Adam Weitsman is a visionary.  To others, he’s a shrewd trader.  To all, he’s perhaps the most controversial figure in the scrap recycling business.

  • Second Obama term could bode well for scrap

    Barack Obama hasn’t been the most popular president among members of the ferrous scrap community, but many historical and political signs point to a strong probability for a robust second term—at least as far as the health and direction of scrap pricing is concerned.




  • Future recap: Intro to CME’s scrap contract

    CME Group’s first US ferrous scrap futures contract— based on AMM ’s proven methodology—gives steel market players a new way of mitigating risk in an environment that is more challenging and volatile.

  • US ferrous scrap futures 101

    You’ve probably heard plenty about scrap futures lately.  But what are futures all about? And can they help you mitigate your own price risk? Here is an outline of what you need to know.

  • Futures trading terminology

    Following is a glossary of some key terms associated with commodity futures trading, based on financial definitions used by Chicago-based CME Group.

  • FAQs on scrap futures hedging

    A quick guide and tool for those watching and wondering about the evolution of futures contracts and indices, tools that aim to bring stability to the ferrous scrap market.

  • Traders lead early interest in ferrous scrap contract

    The question of the place for a scrap futures contract seems to be when, not whether.  That said, there remains an industry education challenge for the exchanges that trade futures, not just in scrap but all ferrous contracts, in convincing executives of the utility of financial risk management.

  • Early adopters weigh in on ferrous scrap futures

    A number of financial companies and trading firms are already working with the new ferrous scrap contract.  What do these early adopters think? Several spoke with AMM to discuss their experiences using the new financial tool and to share their thoughts about its future.