Domestic ferrous scrap market in USA facing $20-30 per ton price fall

Steelmakers across the USA are wasting no time in cancelling unshipped orders for ferrous scrap as sellers brace themselves for a very large price correction in October.

The last day of this month is a Saturday so some mills will allow truck shipments until Monday October 1, but Metal Bulletin sister title AMM is unaware of any mills that have not exercised their right to end-of-month cancellations. Falling iron ore prices, the slump in ferrous scrap export prices to Turkey, a half-dozen mill outages, the restart of a direct-reduced iron (DRI) plant in the state...

Published

Lisa Gordon

September 28, 2017

19:47 GMT