US Northeast scrap prices have settled this week, and sources have also confirmed that P&S scrap in Birmingham, Arkansas, have settled up by $10-$15/gt ($10-$15/mt). It’s also been heard that David Joseph is buying scrap at “up $20/gt ($20/mt) across the board, and they’re buying everything that isn’t nailed down.”
The unexpected, but welcome uptrend throughout the East coast, sources say, is largely tied to recent happenings in the export market. Although recent bookings to Turkish mills have been concluded in the approximate range of $278-$283/mt CFR, earlier today, SteelOrbis reported that ex-US offers have reached $290/mt CFR.
August settled scrap prices in the Northeast are as follows:
| Northeast | August | July | Change |
| Delivered to customer | |||
| HMS I | $234-$239/mt | $208-$213/mt | up $26/mt |
| $230-$235/gt | $205-$210/gt | up $25/gt | |
| Shredded | $254-$259/mt | $229-$234/mt | up $25/mt |
| $250-$255/gt | $225-$230/gt | up $25/gt | |
| P&S | $244-$248/mt | $213-$218/mt | up $31/mt |
| $240-$245/gt | $210-$215/gt | up $30/gt |