US Northeast settled scrap prices

US Northeast scrap prices have settled upward during this month’s buy cycle. Prices are up by approximately $80-$120/gt, “depending on whether someone sold early or late in December,” a source said. “People who sold early, and for less, are up by more than $100/gt, whereas people who held and sold later, for more money, are up by about $80/gt.”  Busheling scrap sold during this month’s buy cycle represented a specialty grade, which does not allow for an apples-to-apples comparison to levels heard in December.

As previously noted, this month's higher scrap prices are rooted in several factors, such as higher export prices off the East coast, increased domestic demand, and lessened scrap inflow due to seasonal factors and the COVID-19 pandemic.