Product
August 4, 2013
U.S. Scrap Prices “Sloppy” as Mills Buy at Lower Levels
Written by Diana Packard
One of our scrap sources – a Northeast based shredding company – reported sales to one of the mill scrap brokerage companies with two sales on shredded scrap. One 35,000 ton lot at down $20 per gross ton shipping by rail, a second lot of shred sold down $15 per gross ton to ship by truck. The shredding company also reported a 10,000 ton sale to a southern mill down $10 per gross ton. Busheling was referenced as going sideways and cut grades were down $5 per gross ton. The shredder told SMU, “Market kept getting weaker with each sale.”
Another of our east coast sources provided the following insights from his perspective late last week:
