Sources close to SteelOrbis have said that while US scrap prices have not settled just yet, prices look to be varying widely from region to region. For example, scrap prices in the US Northeast are expected to settle at down $50/gt for HMS and P&S scrap, whereas prices in the Detroit-area are expected to settle at down $20/gt for primes and down $30/gt for cuts and shred.
Prices in the Southeast, on the other hand, are projected to land at down $50/gt for primes and down $40/gt for other grades.
HMS settled prices in the Pittsburgh / Ohio Valley regions are likely to settle at down $50/gt. Chicago prices are still to be determined. Other areas appear to be down $40/gt for all grades.
Settled scrap prices are projected to be available on Monday.