Ferrous scrap prices holding firm in US
Plats reported that US scrap market remained in a state of limbo as processors and consumers looked for pricing cues as they attempted to agree on May numbers and conduct sales.
As such, the Platts price assessment for shredded scrap delivered to Midwest locations remained unchanged at USD 550 per short ton to USD 560 per short ton, with a midpoint of USD 555 per short ton.
One eastern processor said that "We're still trying to figure out May."
A second large Eastern processor agreed that The mills are keeping a low profile. He said that "I would expect some numbers to be floated but no real activity until next week."
A third processor who had not yet sold for May reported hearing of consumer efforts to stem the rapid rise in scrap prices. He said that "I haven't heard anything, other than there seems to be a hard effort on the [part] domestic consumers to try to push prices down, but they aren't succeeding."
One mid south scrap processor disagreed. He reported that last month's high prices had drawn out more scrap, increasing flows and available material. He said that "The shredder yards are full, suggesting an abundance of material could lead to down"
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