The number of years in the past decade that scrap prices have seen mixed results in June markets. Prices have fallen three times, been up twice and were mixed in the other five years. Many are predicting mixed results yet again, as prime grades could be up or sideways while cut grades may fall or hold steady due to variations in demand.
The Scrap Trends Outlook trend number for mill factors, which include perceived demand, orders, production, inventory, home/captive scrap and slowdowns. The market believes mills and foundries will be very near their performance levels from May, which could keep prices from falling too hard and even may help push some scrap values up.
The percentage of respondents to this month’s survey who expect June prices to be sideways or up. Only three percent say an increase is possible. However, a majority – 72 percent – is looking for no change at all. Because the remaining 24
percent say decreases are coming, the overall forecast leans toward a sideways to soft sideways June.