Ferrous scrap prices opened domestic trading this week $20/GT higher than October. The positive start to the November market was universally welcome news for prime and secondary tags, which have dipped approximately 45% since the beginning of the year.
Most regions were following the $20/GT increase in active trading, although some markets have moved higher by as much as $25-30/GT from last month’s prices. A number of mills have yet to enter the market, which is expected to fully settle by Friday.
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.