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Chicago ferrous scrap prices hit by surplus

February 05, 2012 - 02:17 GMT Location: New York

KEYWORDS: ferrous scrap , scrap prices , secondary grades , prime industrial scrap , Chicago market

Ferrous scrap prices in Chicago have fallen back, with secondary grades returning to December levels while prime grades dipped below levels seen that month, according to early indications from several market sources.

Sources were divided on how much of Chicago’s total market had completed transactions by Friday afternoon, with many sources saying numbers wouldn’t be finalized until Monday as prices for large-volume trades were still being negotiated.

One of the few sources who felt the market had "more or less settled" said volumes were higher this month. "Mills bought more out of Chicago this month because there’s more scrap available in the immediate region," he said. "There’s an oversupply of plate and structural due...

All material subject to strictly enforced copyright laws. © Euromoney Institutional Investor PLC.

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Ferrous

May 24, 2012 00:29 Harsco renews three multiyear contracts in US
May 23, 2012 14:45 DAILY SCRAP REPORT: Index unchanged on lack of new offers
May 23, 2012 10:24 China halts scrap imports on weak domestic market
May 23, 2012 08:53 SE Asia scrap prices down $15-20 as buyers await market cues
May 23, 2012 00:35 US recyclers facing bankruptcy filings

Ferrous Scrap

May 24, 2012 00:29 Harsco renews three multiyear contracts in US
May 23, 2012 14:45 DAILY SCRAP REPORT: Index unchanged on lack of new offers
May 23, 2012 10:24 China halts scrap imports on weak domestic market
May 23, 2012 00:35 US recyclers facing bankruptcy filings
May 23, 2012 00:31 SA Recycling dismisses Calif. closure rumors

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