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.