US East Coast scrap prices poised to settle up for September

Monday, 18 August 2014 23:04:27 (GMT+3)   |   San Diego
       

Although current Philadelphia region scrap prices have held neutral since our last report two weeks ago, still at $330-$340/lt for HMS I/II, $365-$370/lt for shredded scrap and $390-$395/lt for busheling scrap, sources close to SteelOrbis say prices in this region could settle up between $5-10/lt for September buys. “If the export yards start to get aggressive with their buying prices, domestic yards will need to increase their prices too in order to maintain flow, which means US mills will also need to pay higher prices,” one source said, noting the pricing situation will become clearer as the month moves on.

Meanwhile, dealer sources in the Ohio Valley (Pittsburgh/Cleveland) say that prices in that region have also remained stable in the past two weeks, still at $360-$370/lt for HMS I/II, $390-$400/lt for shredded scrap and $420-$430/lt for busheling scrap.  Sources within that region believe prices will hold at “strong sideways” for September.


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