US steel mills failed to fix any price for ferrous
scrap despite early deals on Monday. Uncertainty continued to grip US ferrous
scrap markets across the country. One Detroit mill has
filled its March orders for shredded and five-foot plate and structural scrap
at unchanged prices.
Shredded
scrap prices in the US held steady again, according to market sources, with the
US assessment for shredded stable at amid point of US$ 437.50/MT, delivered to
Midwest US mills.
It is learned that the minor US buying activity reported this week saw
continued price stability across a number of grades. US shredded scrap prices
were relatively stable in late February and into March after volatile price
swings from November to mid-February.
According
to a market participant, “varying price movements in the business confirmed
thus far. Two mills are said to have completed a majority of their buying for
March, while a third has picked up about 35 percent of its March volume. Two
regional mills have yet to enter the market.”
Leave a Reply