After several months of stability, ferrous scrap prices
received by shippers dropped from $30- to $45-per-ton in the November buying
period.
Spot market figures collected through the Raw Material Data Aggregation Service
(RMDAS) of Management Science Associates (MSA in US show domestic steel mills
paying from $30 to $45 less per ton for their scrap over the first 20 days of
November.
The RMDAS Prompt Industrial composite grade (consisting of No. 1 busheling, No.
1 bundles and No. 1 factory bundles) dropped below $500/MT for the first time
since May of 2011, falling from $500/MT in October to $455 per ton in November.
Mill buyers also were able to pay, on average, $30 per ton less for shredded
scrap and $29 per ton less for No. 1 heavy melting steel (HMS) scrap in
November compared to the month before. Spot buyers in the South region paid, on
average, slightly higher prices for scrap than did buyers in the other RMDAS
regions.
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