US domestic scrap settles up in August

Tuesday, 06 August 2019 22:29:41 (GMT+3)   |   San Diego
       

After continuous downward price movements on April, May, June, and July, the US domestic scrap market finally increased $20/gt ($20/mt) throughout most regions in August. A source in the Midwest noted that neither mills nor scrap dealers “negotiated too strongly but rapidly understood the supply and demand dynamics within the month's trading.” A separate source added that demand was good but not as strong as “August of last year.” Assessing the next four months, several sources expressed an expectation of “relative stability and gradual increases in the global and domestic scrap markets.”

*Top number denotes a change from the bottom of the previous range and the bottom number denotes a change from the top of the previous range, both in mt terms.

Ohio/Pennsylvania

Delivered to customer

August

July

Change*

HMS I

$259-266/mt

$255-262/gt

$239-246/mt

$235-242/gt

+$20/mt

 

+$20/mt

Shredded

$279-284/mt

$275-280/gt

$259-264/mt

$255-260/gt

+$20/mt

 

+$20/mt

Busheling

$305-310/mt

$300-305/gt

$284-290/mt

$280-285/gt

+$21/mt

 

+$20/mt

P&S 

$279-284/mt

$275-280/gt

$259-264/mt

$255-260/gt

+$20/mt

 

+$20/mt

 

East coast

Delivered to customer

August

July*

Change*

HMS I

$259/mt

$255/gt

$239/mt

$235/gt

+$20/mt

 

Shredded

$279-284/mt

$275-280/gt

$259-264/mt

$255-260/gt

+$20/mt

+$20/gt

Busheling

$304/mt

$300/gt

$284/mt

$280/gt

+$20/mt

 

P&S 

$269-274/mt

$265-270/gt

$249-254/mt

$245-250/gt

+$20/mt

+$20/gt


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