US ferrous scrap prices for May delivery in the US Ohio Valley settled $30-40/gt ($30-41/mt) less this week during monthly May buy-cycle negotiations amid continued reports of solid inventory levels, minimal demand from domestic and overseas mills and declining finished steel prices. Insiders said the combination of limited domestic and overseas demand for May scrap was “limiting May export opportunities and really backing supply up. It's all down hill from here,” remarked one scrap insider during monthly buy cycle negotiations which concluded today.
US settled prices are below:
| Ohio Valley | May | April | Monthly Change |
| Delivered to customer | |||
| HMS I | $330-351/gt | $371-391/mt | Down $41/mt from April |
| $325-345/gt | $365-385/gt | Down $40/gt from April | |
| Shredded | $381-387/mt | $421-427/mt | Down $41/mt from April |
| $375-380/gt | $415-420/gt | Down $40/gt from April | |
| P&S | $367-377/mt | $407-418/mt | Down $41/mt from April |
| $361-371/gt | $401-411/gt | Down $40/gt from April | |
| Busheling | $443-468/mt | $473-498/mt | Down $30/nt from April |
| $435-460/gt | $465-490/gt | Down $30/gt from April |
