10
May
16:10
US obsolete scrap settles higher than expected
US domestic scrap trading in the May buy cycle was wrapped up last week following mills’ strong demand for scrap and increased prices for obsolete grades.
Obsolete grade scrap prices have increased by $20/gross ton from April, with support from domestic and export demand. Although some market participants were expecting to see higher obsolete demand, they were not anticipating such a price increase. On the other hand, prime scrap prices, which saw sharp incr…
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Anonymous
Very good overview of the weekly steel market.
Anonymous