By Bill Beck - April 11, 2018
When the Detroit market began trading early last week, expectations were high that ferrous scrap would be up sharply, at least as much as the $20 increase on cut grades the market reported in March.
By Bill Beck - March 14, 2018
Detroit mills continued to set the pace for North American scrap sales in March, coming out on the second day of the month sideways on prime grades and up $20 on cut grades. But this time, nearby markets did not follow suit. Chicago was up $10 on prime grades and up $30-$35 on cut grades and shredded, while Ontario mills were up $30 U.S. on cut grades and up $18 U.S. on prime grades.
By Bill Beck - February 14, 2018
For the third straight month, Detroit set the ferrous scrap market for a good chunk of the United States, coming out on February 1 with an offer to purchase scrap for the same price it had paid in January. The sideways movement was essentially wrapped up before the close of business on Friday, and the shortest month of the year marked probably the shortest trading period of the year.
By Bill Beck - January 10, 2018
For the second straight month, Detroit set the market for much of the United States, coming out the middle of last week with the same offer it had made at the beginning of December, which was up $20 on prime grades, and up $30 on just about everything else.
By Bill Beck - December 13, 2017
One Chicago broker noted that the U.S. ferrous scrap market now takes its cues from Detroit. “Detroit comes out,” he said. “Everybody follows. It’s all done in a couple of hours.”