According to sources close to the market, Pennsylvania and Ohio Valley regions have now settled for the May scrap buy-cycle. While expectations at April’s month-end were “strong sideways” with the potential for $5-10/mt on P&S, all grades encountered price increases in the May buy-cycle except busheling scrap.
HMS I scrap was considered the “wildcard” but the grade increased $10-11/mt on tight supply and strong regional demand. Shredded scrap was expected to trend sideways, but deals by the end of the week closed up $5-10/mt. P&S exceeded expectations with some deals increasing $15-20/mt compared to April settled prices.
Prices per region on table below are delivered to customer.
May 2017 |
Pennsylvania |
NE Ohio |
SW Ohio |
HMS I |
$284-290/mt $280-285/gt |
$290-295/mt $285-290/gt |
$290-295/mt $285-290/gt |
Shredded |
$310-315/mt $305-310/gt |
$310-320/mt $305-315/gt |
$305-315/mt $300-310/gt |
Busheling |
$376-381/mt $370-375/gt |
$386-396/mt $380-390/gt |
$381-391/mt $375-385/gt |
P&S |
$310-315/mt $305-310/gt |
$310-320/mt $305-315/gt |
$305-310/mt $300-305/gt |
Change* (mt) |
Pennsylvania |
Ohio Valley |
SW Ohio |
HMS I |
+$10/mt +$10/mt |
+$10/mt +$11/mt |
+$10/mt +$11/mt |
Shredded |
+$10/mt +$10/mt |
+$10/mt +$10/mt |
+$5/mt +$10/mt |
Busheling |
No change No change |
No change No change |
No change No change |
P&S |
+$15/mt +$15/mt |
+$15/mt +$20/mt |
+$10/mt +$10/mt |
*Top number denotes change from the bottom of the previous range and bottom number denotes change from the top of the previous range.