According to sources, certain scrap producers are still discussing June scrap pricing with late entry mills. While prices are beginning to settle, depending on region and scrap grade, some contention remains regarding cut grades.
What is evident so far is a $10/mt decrease in shredded scrap prices throughout all regions compared to May, except for the Ohio region—where shredded was unusually strong in May—which has reported a $15/mt decrease.
As for other grades, early entrant mills on Monday and Tuesday were heard achieving a downward pressure of $5/mt on heavy melting steel and P&S, but with recent mill price increase announcements on flat steel products, buyers are meeting resistance. Prime grades are reportedly trading sideways.
SteelOrbis is updating its shredded scrap price range in the daily steel prices down to $285-300/mt from $300-310/mt. Prices and updates per region forthcoming as available.