The RMDAS ferrous scrap index, which reflects the US spot market prices for steel mills and foundries, continued to drop in Feb’24. The index witnessed the price declines of the following:
- Shredded scrap prices fell by $5/t to $458/t.
- Prompt industrial composite scrap dropped by $19/t to $485/t.
- The HMS index decreased by $11/t to $385/t.