The U.S. ferrous scrap market appears to have hit bottom, but opinions are
mixed on whether there will be a sideways shift or slight uptick in business in
December to January amid lighter melting schedules at most of the mills due to
the holiday season.
“Mills are all over but
especially in the Ohio Valley and further south, did not buy enough scrap in November
and are already out looking for more scrap before the end of the month. Flows
are slowing, too, because of the season, so dealers' ability to lower prices
now is limited,” an Eastern recycler said.
A recent improvement in the
export arena also appears to be working in favor of an uptick. Lack of material
in scrap yards will result in a small improvement in the December market,
according to a Southeastern scrap yard.
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