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    November 16, 2017

    Empire State Manufacturing Index Slips from October High

    Written by Sandy Williams

    Manufacturing in New York State continued to expand in November, but the headline business conditions index of the Empire State Manufacturing Survey fell to 19.4 after reaching a three-year high in October. The November index lost 11 points and dropped more than expected, but solid gains in new orders and shipments indicate still brisk growth in the region. New orders climbed three points to 20.7 and shipments slowed a bit to an index reading of 18.4.

    Inventories increased modestly in the November report. Delivery times were shorter and unfilled orders saw a small decline. Input prices were down slightly from October and selling prices increased.

    Sandy Williams

    Read more from Sandy Williams

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    Ferrous scrap market chatter this month

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    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.