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    Analysis

    Final Thoughts

    Written by John Packard


    When I last wrote my final thoughts, I had just discovered that my passport had expired ten days earlier and I was scheduled to speak to the Toronto Steel Buyers & Associates dinner in Canada the following day. My efforts to have the passport renewed in Atlanta were rebuffed and I was down to my last hope – the Passport Services office in Detroit.

    On Wednesday, I flew to Detroit and proceeded to the U.S. government offices in downtown Detroit. I had managed to secure a 12:30 appointment to plead my case but, in an effort to expedite the process I arrived about an hour early. I happen to ride up the elevator with one of the security officers attached to Passport Services and we chatted in the elevator about why I was there and what I was trying to accomplish. He introduced me to the next guard who was standing between me and my ability to get a new passport. He asked if I had an appointment which I happily told him that I did and he responded I would not be allowed in until the appointed time – another hour away.

    Latest in Analysis

    November scrap prices rise as market nears settle

    November scrap procurement has commenced in the US with buyers divided on the price increases from the previous month. Several mills reportedly sought a rise of $20 per gross ton (gt) while others saw $30/gt as the number. The $30/gt price tag mainly applies to the obsolete grades, like shredded, P&S and #1 HMS, with prime grades pulling up the rear at $20. SMU spoke to a Chicago-based source who said that market was up $30/gt and 20/gt on shredded and busheling, respectively. He also mentioned the integrated mills in this district are after heavier grades like P&S and railroad grades, like wheels. These grades have been in short supply since last summer. Our source believes they commanded prices up $30/gt while busheling was at plus $20.