US ferrous scrap prices for May delivery settled $30-40/gt ($30-41/mt) less this week during monthly May buy-cycle negotiations amid continued reports of solid inventory levels, minimal demand from domestic and overseas mills and declining flat steel prices. Insiders said the combination of limited domestic and overseas demand for May scrap was “limiting May export opportunities and really backing supply up. It's all down hill from here,” they said during monthly buy cycle negotiations which concluded today.
US settled prices are below:
| US Northeast | May | April | Monthly Change |
| Delivered to customer | |||
| HMS I | $310-325/mt | $351-366/mt | Down $41/mt from April |
| $305-320/gt | $345-360/gt | Down $40/gt from April | |
| Shredded | $330-342/mt | $370-382/mt | Down $41/mt from April |
| $325-335/gt | $365-375/gt | Down $40/gt from April | |
| P&S | $300-310/mt | $340-350/mt | Down $41/mt from April |
| $295-305/gt | $335-345/gt | Down $40/gt from April | |
| Busheling | $387-407/mt | $417-437/mt | Down $30/mt from April |
| $380-400/gt | $410-430/gt | Down $30/gt from April |