Ferrous scrap prices were sideways during domestic trading this month holding on to $20-30/GT gains from January. Many markets settled quickly, closing out monthly orders by Friday, February 2—while other markets continued trading through February 5 to solidify sideways pricing for the month.
Scrap flows have slowed this winter, mostly due to weather, slimming supplier inventories. Leading up to domestic trading, ferrous scrap exports were mixed, citing cargo headed to Turkey at slightly lower prices than similar cargo headed to India at higher values.
We will continue to keep you updated on market conditions through our website news section, so check back often. Metro Alloys has successfully served its clients for more than 30 years in all market conditions and we encourage you to contact your sales representative, Marvin Fish, Gary Kamp or Abby Frank with any questions.