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US scrap market sentiment strengthens for September

August 21, 2014 - 06:22 GMT Location: New York

KEYWORDS: US ferrous scrap

Sentiment has lifted in the US ferrous scrap market for September on strengthening mill order books, finished steel prices and ferrous scrap export prices, as well as tighter scrap supply and transportation issues.

Market participants polled by Steel First sister title AMM in an informal survey were more bullish on southern markets, while Midwest market participants exercised more caution when speculating about price trends for next month. Nonetheless, two-thirds of survey respondents in the Midwest said they expect prices to increase in September, while one-third expect prices to remain unchanged. Of those in the Midwest anticipating an uptick in prices, most said that prices could increase by up to $10 per gross ton while 11 percent felt tags could increase by as much as $20 per ton. Nearly 86% of the survey respondents in the South and Southeast of the country expect prices to increase in September, with an even split between those anticipating increases of up to $10 per ton and those pegging increases at between $10 and $20. Only 14% of those polled in the South and Southeast said they expect prices to...

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