Research

Forecasts and market analysis based on price assessments from Fastmarkets MB and Fastmarkets AMM

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November 2018 | Steel Scrap and Metallics Forecaster


US ferrous scrap markets to remain buoyant on tighter supply and stronger demand: North America Market Analysis


We believe that sluggish US mill capacity utilization rates in the first half of the year was one of the reasons why US domestic scrap prices failed to keep up pace with rising steel prices.

US domestic ferrous scrap prices rose for the second month in succession in November. HMS and shredded prices increased $20 per long ton in Philadelphia, Pittsburgh and Chicago while busheling in the same three locations recorded increases of $10. As we expected, the gulf between prime and obsolete scrap prices has narrowed in November (see first chart). The $90-per-long-ton spread in October was the highest for exactly a year, and, like 12 months ago, we expect the gap to remain stable in December before falling again...

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