October settled scrap prices in the US

The October scrap trade got a slow start this month, and as of Tuesday, most dealers noted activity remained quiet. Today, however, we have additional answers: scrap settled “mostly sideways” during this month’s buy cycle.

Although early reports noted that David J. Joseph might try to take prices down by $10/gt during this month's buy cycle, they ultimately came out at sideways, as did several mills in the Midwest. And while at least two mills on the East coast took prices down $10/gt ($10/mt) on cut grades (a trend which many say is directly linked to exporters’ decision to take dock prices down by $10/gt last week), others reported that some mills increased their prices by $5/gt ($5/mt). As such, SteelOrbis is calling the market at “mostly sideways,” with some mill-specific fluctuations.

This month’s settled scrap prices are listed in the charts below.