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    March 28, 2024

    Hoffman on scrap: Could a floor in Asia firm US prices in April?

    Written by Phil Hoffman

    Numerous mid-sized export yards in California and in Baja Mexico had little to no inventory on the ground last week because most had sold forward in the falling March market.

    Looking to secure their margins, they dropped prices across the scale. That resulted in lower-than-normal flows. “I’m sold out through mid-April and even longer if the flow doesn’t pick up” one yard owner said. That turned out to be the position of numerous West Coast suppliers.

    Phil Hoffman

    Phil Hoffman has been in operations, logistics and trading ferrous scrap globally for more than 30 years. Hoffman Iron has also consulted for numerous steel mills, where he has enhanced steel mill scrap and raw material operations by successfully reducing raw material costs while increasing yields. Hoffman is in addition an attorney specializing in international trade and maritime law.

    Read more from Phil Hoffman

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