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    August 9, 2022

    Scrap Prices Drop in August, With Bush Near Shred Is Bottom Near?

    Written by Brett Linton

    Steel Market Update sources report ferrous scrap prices declined as much as $70 per gross ton from July to August, the fifth consecutive month of declines since March–April’s record high prices. Prime scrap fell by $70 per ton from the month prior, while obsolete grades declined $15–40 per ton. For the first time since late-2020, busheling scrap is now selling at similar prices to shredded scrap.

    steel scrap“Hard to believe. So much for that ‘busheling is a precious metal,'” commented one scrap trader.

    Brett Linton

    Brett Linton is a digital operations analyst for Steel Market Update, where he began his career. Linton has been in the steel industry since 2010. He has held roles as a category manager and strategic insights director at Reibus before returning to SMU in 2024. He is a graduate of The University of North Georgia with a degree in Finance and Accounting. Brett can be reached at brett@steelmarketupdate.com or 724-314-0179.

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