In the latter part of September, it was suspected that the
US domestic
scrap market was set for a downtrend, although no one could agree as to how far prices would slip. Although the most common consensus was that prices would be down $10-$15/lt, the official number seems to be fluttering in the down $15-$20/lt range.
Scrap dealer sources in the East Coast / Philadelphia region prices say that HMS I/II prices have come down $15/lt to $315-$320/lt, while shredded prices have come down $18/lt to $347-$352/lt. Busheling
scrap, which is in shorter supply, has held stable in the approximate range of $390-$395/lt.
Prices in the Ohio Valley (Pittsburgh/Cleveland) area, which saw September ranges of $360-$370/lt for HMS I/II, $390-$400/lt for shredded
scrap and $420-$430/lt for busheling
scrap, have come down $20/lt across the board.
In the Tennessee / Kentucky region, busheling prices are down approximately $25/lt to $370-$385/lt.