As previously expected, SteelOrbis has learned that scrap prices in the Southeast have settled down by $50/gt for HMS and P&S scrap, and at down $75/gt for busheling scrap. Settled prices for HMS were heard at approximately $400/gt during this month’s buy-cycle, whereas settled prices for P&S scrap landed at $415-$425/gt.
Busheling scrap, on the other hand, settled at roughly $625-$635/gt, although a small number of sellers reported selling tons at $650/gt.
Sources have also confirmed that while scrap prices in the Northeast and the Ohio Valley have not settled yet, that they'll likely settle at down $50/gt for cuts and shredded scrap, and at down $75/gt for primes.