U.S. ferrous scrap prices are sideways to down $10/GT from June levels in domestic trading this week with southern markets faring better than those in the north. Market experts had projected a wider range of sideways to down $20/GT heading into domestic trading, having watched scrap prices drop on average $90/GT the past three months.
Regional markets are experiencing a familiar combination of weaker demand and ample inventory in July, but also whether recently increased mill prices on finished goods will stick and have any significant impact scrap prices going forward.
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.