U.S. ferrous scrap prices moved higher in domestic trading this week jumping $30-40/GT from November levels. The holiday market marked the second consecutive month of higher prices across the board for ferrous scrap tags, even as non-ferrous scrap prices continue to struggle near 10 years lows. And December’s ferrous uptick only erases a small fraction of the year’s approximate 40% drop overall.
Prices firmed as the trading week progressed with southern markets mostly outperforming their northern counterparts by as much as $10/GT. Mill demand outpaced supply throughout the trading week, leaving some mills in a scramble to fill their year-end order books.
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.