After a mostly sideways trend in February that carried over January settled prices, sources inform SteelOrbis that US domestic scrap traded up in March across all grades. The market prices were supported by export activity, cold winter conditions, and strong domestic demand. The winter conditions placed supply pressures on ferrous scrap as rain or snow storms affected inbound feedstock, scrap yard processing, and transportation; truck and river barges are usually delayed in storm conditions. A source added, “Shredded scrap prices generally increased $20/gt ($20/mt) domestically, but with the freight rate increases we have encountered, it is more like a $12/gt ($12/mt) increase towards scrap and $8/gt ($8/mt) increase due to freight .”
*Top number denotes change from the bottom of the range and bottom number change from the top of the range in mt.
|
Ohio/Pennsylvania Delivered to customer |
March |
February |
Change* |
|
HMS I |
$335-340/mt $330-335/gt |
$315-320/mt $310-315/gt |
+$20/mt +$20/mt |
|
Shredded |
$360-362/mt $354-356/gt |
$340-345/mt $335-340/gt |
+$20/mt +$17/mt |
|
Busheling |
$386-406/mt $380-400/gt |
$376-386/mt $370-380/gt |
+$10/mt +$20/mt |
|
P&S |
$360-362mt $354-356/gt |
$335-340/mt $330-335/gt |
+$25/mt +$22/mt |