Steel mills demand may lift US Shredded Scrap prices in May

UNITED STATES May 14 2015 9:14 AM
NEW YORK (Scrap Register): United States shredded scrap prices are expected to rise in May, said the Steel Index.

In the US, the pick-up beginning in steel mill utilization levels across the Midwest could bode well for scrap prices to move higher in May.

This view is reinforced when one looks at the large volumes of scrap exiting the region via the East coast in recent weeks, which could serve to suck material from other regions.

According to TSI, US shredded scrap index for domestic deliveries remained relatively stable for a second consecutive month-a stark contrast to the large decrease seen in February.

The monthly average increased by $2.95 a long ton month-on-month in April to $263.75 a long ton delivered Midwest mill.