US domestic scrap prices trend up in Ohio and Pennsylvania regions

Like the East coast, the Ohio Valley and Pennsylvania scrap markets trended up during the August buy-cycle this week.

In the Pennsylvania area, prices increased $15-20/mt on HMS I, shredded and P&S scrap grades while busheling scrap increased $10/mt. The Southwest Ohio scrap market mirrored the increases encountered in the Pennsylvania region.

In the Northeast Ohio region, shredded scrap increased by $25/mt while HMS I increased by $21/mt and P&S increased by $15-20/mt. An Ohio source stated, “With the strength in export and $10-20/mt not being enough to bring scrap westward, scrap is not flowing from east to west as usual.” A separate source noted that “shredded scrap has the potential to flow from the Detroit and Western regions into the Ohio region” as consumers in the region have not fully covered their month’s requirements. As a result, while prices have settled for the week ended August 4 as listed below, some Ohio dealers believe that shredded could encounter an additional uptick during the week ended August 11.

*In mt terms, the top number denotes change from the bottom of the previous range and bottom number denotes change from the top of the previous change.

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