Additionally, finding available trucks to move cargoes, which has been an issue in many markets since the Covid-19 pandemic caused demand to plummet, was more pervasive this week than it had been previously. Demand for trucks recovered faster than supply and many seeking to use trucking services found they had to pay significantly higher prices to secure freight.
“Freight is still an issue for many and we are feeling it now too,” one consumer said, adding that they hadn't had issues securing contracted vehicles until now.
In addition to higher freight costs, overall scrap supply in the Unites States remained very tight. Competition with overseas buyers for some products has pushed prices to over two-year highs.
Fastmarkets’ price assessments for turnings clean dry high grade buying and turnings clean dry mixed grade (max 5% Zn), both delivered to Midwest secondary smelters, rose by...