Market sources inform SteelOrbis that US East coast scrap prices have settled during the early December buy-cycle. Scrap prices increased across all grades on robust domestic and export demand.
Busheling scrap increased $20-21/mt in the East coast market, mirroring the uptrend in Detroit, while shredded prices increased $35-40/mt compared to November settled prices. The increase in East Coast shredded scrap prices was more pronounced by $5-10/mt compared to the Detroit settled prices in December. Compared to November settled prices, HMS I scrap increased $31-36/mt and P&S scrap trended alongside at an increase of $33-36/mt.
Sources inform SteelOrbis that with strong export demand, strong global scrap prices, and an optimistic steel outlook for 2018, the January buy cycle is expected to “at worst trend sideways but with a probability of also trending up.”
*In mt terms, the top number denotes change from the bottom of the previous range and bottom number denotes change from the top of the previous change.
|
EC (delivered to customer) |
December |
November |
Change* (mt) |
|
HMS I |
$305/mt $300/gt |
$269-274/mt $265-275/gt |
+$36/mt +$31/mt |
|
Shredded |
$325-330/mt $320-325/gt |
$290/mt $285/gt |
+$35/mt +$40/mt |
|
Busheling |
$366-376/mt $360-370/gt |
$345-356/mt $340-350/gt |
+$21/mt +$20/mt |
|
P&S |
$315/mt $310/gt |
$279-282/mt $275-278/gt |
+$36/mt +$33/mt |