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    April 11, 2024

    Unraveling the enigma of April's scrap market dynamics

    Written by Raymond Peterson

    For those of you old enough to remember The King and I, the April scrap market seems to be a puzzlement. While it is now clear that everything went sideways, one could clearly make an argument for prices to have been down.

    With the announcement of up to seven April outages in the flat rolled sector of the steel industry and several other mills not running at full capacity, it would not have been difficult to push prices down at least another $20 per gross ton (gt).

    Raymond Peterson

    Raymond Peterson began his career in the metals business as a laborer at the Joseph Behr & Sons scrap yard in Rockford, Ill., in 1970. Since that time Peterson has traded most of the raw materials necessary for the making of steel. He has worked for several scrap and ferro-alloy companies, a large international metals trading company, and two major banks. Peterson founded Memorial Resource Group in 1991 and continues to operate it, focusing primarily on supplying ferrous scrap to the steel and foundry industries.

    Read more from Raymond Peterson

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