Ferrous scrap prices followed up last month’s drop with another in domestic trading this week. May prices were off $25-40/GT as regional markets moved to quickly settle monthly deals. Prime tags traded at a discount nationally across the $25-40/GT range, while secondary tags traded more consistently at $30/GT discount to April levels.
Southern markets settled mostly off $25-30/GT for prime and secondary tags, where scrap supplies are relatively strong, especially plate and structural steel coming from numerous demolition projects. Northern markets saw the deepest discounts this month, trading down mostly $30-40/GT. Export ferrous scrap prices were also lower on both coasts leading into domestic trading this week.
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.