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Home / Metal News / US Shredded Scrap prices rise in early 2015

US Shredded Scrap prices rise in early 2015

iconJan 13, 2015 13:19
Source:SMM
United States shredded scrap prices rose by $6 a long ton week-on-week to $347 a long ton (delivered mill) in the week ended January 09, as per the latest figures released by the The Steel Index.
UNITED STATES January 13 2015 10:24 AM
NEW YORK (Scrap Register): United States shredded scrap prices rose by $6 a long ton week-on-week to $347 a long ton (delivered mill) in the week ended January 09, as per the latest figures released by the The Steel Index.
 
The scrap industry had been talking up a January bonanza in the market and, initially, this didn’t look too far off the money with sales taking place up to $30 a long ton higher than last month.
 
However, some suppliers were left to rue waiting out the early sales as the market soon turned on its head and they were left struggling to place tons, with some sales eventually taking place at sideways pricing to November. 
 
Increased DRI production, continued iron ore weakness and the stronger dollar have all contrived to cool this market. The strong dollar in particular has slowed exports, thus increasing domestic supply availability dramatically.
The Steel Index
United States shredded scrap prices
US shredded scrap prices

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