According to sources close to SteelOrbis, the US Detroit market region of the Midwest is starting to settle as large mills agreed to higher seller prices. Busheling scrap in the region increased by $20/mt ($20/gt) while shredded scrap increased by $30/mt ($30/gt) compared to November settled prices. With an average delivered price of $335/mt ($330/gt) on busheling scrap and $274/mt ($270/gt) on shredded scrap in November, average delivered prices in the Detroit are now $356/mt ($350/gt) for busheling scrap and $305/mt ($300/gt) for shredded scrap.
In November, Detroit area steel mills decreased the buying price of busheling by $10/mt ($10/gt) but maintained their prices on shredded scrap compared to October settled prices. In October, busheling and shredded scrap had faced price reductions of $25-41/mt ($25-40/gt) in the Detroit region.
Sources inform SteelOrbis that the Cleveland, Ohio and Pittsburgh, Pennsylvania regions continue trading.