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    March 24, 2016

    Ferrous Scrap Prices Poised to Move Up $30-$50

    Written by John Packard

    Steel Market Update ferrous scrap sources are advising us that scrap prices are poised to move $30 to $50 per gross ton higher for April deliveries than what we saw negotiated at the beginning of March. The issue is supply. The domestic sheet mills are having issues finding all of the tonnage they need and have been pushing for more tonnage as the month of March has progressed.

    Recent sales to the export markets will assist in supporting higher prices to the domestic steel mills as negotiations begin early for April (due to ISRI conference in Las Vegas the first week of April). Two Turkish mills booked cargoes from U.S. scrap exporters last week and paid $232 per metric ton delivered for an 80/20 mix of heavy melt. At the same time West Coast containerized shredded scrap prices are now over $205 per metric ton.

    John Packard

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