Most sources cited the LME as
the chief factor in the scrap price rise, although supply and
demand issues also played a part.
"I’ve not seen
Chinese activity in anything but zorba and twitch, which is why
prices are so high right now," one market source said.
A second source cited delivery issues as a factor weighing
down supply. "Scrap availability has not been a near-term
issue, (but) I think some scrap dealers sold and did not