Ferrous scrap prices flattened compared to previous months during July domestic trading. Regional markets settled quickly after the holiday weekend against a national price trend of prime tags moving higher by $20/GT and secondary tags trading sideways from a month earlier.
There was considerable speculation leading up to the July trading week and just as much once markets had settled. Overall, there is no doubting the ferrous scrap market, along with other scrap metal markets, is strong with many metals trading at record or near record highs. In the wake July’s flatter ferrous market, scrap traders are now viewing the balance of 2021 and whether prices have peaked or plateaued, or will move within a modest range for the balance of the year. Exports, which remained strong during the first half of the year, signaled a slight softening for secondary tags in July. The reduced exports helped push domestic secondary prices sideways for the month.
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, Abby Frank or Gary Kamp with any questions about current market conditions.