June 2018 | Steel Scrap and Metallics Forecaster
US prime scrap stays strong, poor export markets weigh on East-Coast cut grades: North America Market Analysis
US scrap prices are underperforming while US steel output growth is tailing off
Prime grade scrap moved up in Midwest in June. Prices for No.1 busheling rose by $10 per long ton to $395 per ton in Chicago and to $390 per ton in Detroit, while good demand and supply for prime scrap helped prices stay broadly stable in most areas. Steel spreads over scrap continue to rise, with the spread between Alabama busheling and HRC up to a record high of $598 per metric tonne on June 15 after flat steel markets were bolstered by Section 232 tariffs being applied...
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