According to sources close to the market, Pennsylvania and Ohio Valley regions have now settled for the May scrap buy-cycle. While expectations at April’s month-end were “strong sideways” with the potential for $5-10/mt on P&S, all grades encountered price increases in the May buy-cycle except busheling scrap.
HMS I scrap was considered the “wildcard” but the grade increased $10-11/mt on tight supply and strong regional demand. Shredded scrap was expected to trend sideways, but deals by the end of the week closed up $5-10/mt. P&S exceeded expectations with some deals increasing $15-20/mt compared to April settled prices.
Prices per region on table below are delivered to customer.
| May 2017 | Pennsylvania | NE Ohio | SW Ohio |
| HMS I | $284-290/mt $280-285/gt | $290-295/mt $285-290/gt | $290-295/mt $285-290/gt |
| Shredded | $310-315/mt $305-310/gt | $310-320/mt $305-315/gt | $305-315/mt $300-310/gt |
| Busheling | $376-381/mt $370-375/gt | $386-396/mt $380-390/gt | $381-391/mt $375-385/gt |
| P&S | $310-315/mt $305-310/gt | $310-320/mt $305-315/gt | $305-310/mt $300-305/gt |
| Change* (mt) | Pennsylvania | Ohio Valley | SW Ohio |
| HMS I | +$10/mt +$10/mt | +$10/mt +$11/mt | +$10/mt +$11/mt |
| Shredded | +$10/mt +$10/mt | +$10/mt +$10/mt | +$5/mt +$10/mt |
| Busheling | No change No change | No change No change | No change No change |
| P&S | +$15/mt +$15/mt | +$15/mt +$20/mt | +$10/mt +$10/mt |
*Top number denotes change from the bottom of the previous range and bottom number denotes change from the top of the previous range.