US domestic scrap prices down in Ohio

According to sources and as reported by SteelOrbis previously, US domestic scrap generally decreased $30/mt on cut grades and $40/mt on prime grades in the recent October buy-cycle. An Ohio dealer reported that the Northern Ohio region decreased slightly more than the average to “normalize as it had performed stronger than other regions in the past several months.” Busheling deals narrowed down to $340-345/gt ($345-351/mt) delivered to customer in the Northern Ohio which decreased markedly by $50-55/gt ($50-56/mt) from the previous $395/gt ($401/mt) delivered to customer level that held in the August and September buy-cycles.

After the recent ex-US scrap export deals in Turkey, as well as expectations of larger scrap buying plans by mills in November, US dock prices on the East coast are beginning to regain some ground while the inland regions are expected to encounter a sideways to slight upward trend in the upcoming November buy-cycle.

(*) Top number denotes change from the bottom of the previous month’s range and bottom number denotes change from the top of the same range in mt terms.