January 2017 | North American Steels
US scrap prices jump in response to improved fundamentals: Raw Material Highlights
US scrap benchmarks extended their recovery in December as many domestic mills surprisingly maintained relatively large order volumes in response to higher operating schedules.
US mills entered the market in December with bids of $30/l.t higher than Novembers settlements, compared with offers of $50/l.t from local scrap suppliers in the first few days of December. As the week progressed, however, it became clear that some mills were short of melting requirements and conceded ground. At the same time, some scrap dealers have stuck to regurgitating arguments about limited yard flows. However, AMM Research believes...
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