US domestic July scrap prices settle in Midwest, Ohio valley

Although US East coast scrap pricing has faced downward pressure from export pricing for the last several months, prices in the Midwest and Ohio Valley have generally met prior expectations for July.  Scrap prices in these regions only saw an approximate $10-20/mt ($10-20/gt) down on all cut grades and maintained consistent sideways pricing on prime grade despite slightly lower seasonal volumes.

Sources close to the market informed SteelOrbis that spreads between grades remained adequate and that flow of scrap into scrap yards has not dropped off with any significance despite the decreased pricing trend this summer.