In the final days of June- scrap market sources throughout the US suspected that July settled prices would trend soft. And while most sources polled said they felt that while HMS and P&S would trend at sideways to down $20/gt, others believed that prime grades would trend down by $20-$30/gt.
Today sources have confirmed that prices in the Northeast and Ohio Valley have settled at sideways. Prices in the Southeast, however, look to be settling at mostly sideways as well.
“I think there was a lot less scrap available than mills believed,” a source said when asked why he believed that market prices remained stable. “We also had a few mills come in with stronger buys.”
Other sources largely agreed.
“A lot of the scrap yards have been saying that flows had slowed down a lot, and I think lower dealer inventory had a play in this,” he said. “As far as August, I think that’s all still to be determined, but I don’t see prices going down.”
July settled prices are listed in the chart below.
| Northeast | June | June | Change |
| Delivered to customer | |||
| HMS I | $315/mt | $315/mt | sideways |
| $310/gt | $310/gt | sideways | |
| Shredded | $406-$417/mt | $406-$417/mt | sideways |
| $400-$410/gt | $400-$410/gt | sideways | |
| P&S | $325-$335/mt | $325-$335/mt | sideways |
| $320-$330/gt | $320-$330/gt | sideways | |
| Busheling (Pittsburgh) | $462-$472/mt | $462-$472/mt | sideways |
| $455-$465/gt | $455-$465/gt | sideways |
| Ohio Valley | July | June | Change |
| Delivered to customer | |||
| HMS I | $325-$335/mt | $325-$335/mt | sideways |
| $320-$330/gt | $320-$330/gt | sideways | |
| Shredded | $417/mt | $417/mt | sideways |
| $410/gt | $410/gt | sideways | |
| P&S | $406/mt | $406/mt | sideways |
| $400/gt | $400/gt | sideways | |
| Busheling | $472/mt | $472/mt | sideways |
| $465/gt | $465/gt |
sideways |