US domestic scrap settles in additional regions

The Midwest and Central regions have settled at the following prices for March:

Mar 7 (delivered to customer)	Midwest	Central
HMS I	$315-320/mt $310-320/gt	$269-274/mt $265-270/gt
Shredded	$325-335/mt $320-330/gt	$285-290/mt $280-285/gt
Busheling	$391-396/mt $385-390/gt	$320-325/mt $315-320/gt
P&S	$325-335/mt $320-330/gt	$280-284/mt $275-280/gt

 

Change compared to February settled scrap prices:

Change m-on-m	Midwest	Central*
HMS I	+$31/mt +30/mt	+$30/mt
Shredded	+$30/mt	+$30/mt
Busheling	+$71/mt	+$50/mt
P&S	+$41/mt +$40/mt	+$30/mt

Note: mt variance noted in relation to change from previous range. When two numbers are present, the top number denotes change from the bottom of the previous range and the bottom number denotes the change from the top of the previous range when a different magnitude change from above number. 

(*) Central region settled scrap prices were not reported in February by SteelOrbis. In February, prices declined $20-25/mt on cut grades. Busheling encountered a decline of $5-10/mt in intial deals but settled sideways at end of buy-cycle.

 

According to sources close to SteelOrbis, domestic ferrous scrap trades have already retreated slightly as discussions continue for potential additional scrap orders delivered to mills through March.