The percentage of respondents to the survey who believe prices could go up in August. That includes a range – a little over 21 percent believe that No. 1 heavy melting might go up, while only 12 percent say that busheling and 7 percent that turnings and borings are likely to increase. About half believe a sideways market is still possible.
Prices in August are split evenly historically. Over the past decade, prices have risen four times, fallen four times and been mixed twice. One possible explanation is that August often becomes a month in which market corrections are sought following the unpredictable ups and downs of summer and its host of variable factors that are at play.
For the year to date through May, about 4.8 million tonnes of scrap have been shipped to foreign buyers, compared to about 5.7
million for the first five months of 2015, or a decrease of roughly 16 percent. Year-over-year May figures also were down about 1.2 percent for the month from May 2015. However, export volumes gained over April.