By Bill Beck - February 10, 2020
After three months of registering double digit price increases, Detroit and Ontario ferrous scrap markets were due for the inevitable correction. That came in February, when mills in Detroit reduced the prices on prime grades by $10 per gross ton and dropped the price they would pay for cut grades and shredded scrap by $20 per gross ton.
By Bill Beck - January 13, 2020
After months of crushing $30 and $40 per gross ton price drops, the Detroit and Ontario markets have bounced back to a very bullish position. When Bluescope Delta announced last week it was buying ferrous scrap across the board at a $30 premium to December prices, it was the third straight month the two North American Great Lakes markets have registered double digit price increases.
By Bill Beck - December 9, 2019
After months of the worst bear market in years, ferrous scrap in Detroit and nearby Ontario are finally showing signs of strength. Detroit was up $30 per gross ton across the board early last week for the second straight month of double-digit increases. Hamilton followed suit several days later with a $37 CAD hike.
By Bill Beck - November 11, 2019
What was perhaps most surprising about the November settlement was the uniformity of the $20 price increase. In the week before NorthStar Bluescope Steel announced it would pay $20 more across the board than it did in October, speculation in the ferrous scrap community was that price increases would be stronger in the South and weaker in the Midwest and Ohio Valley.
By Bill Beck - October 11, 2019
After dropping $80 from May until July, ferrous scrap prices in Detroit and Hamilton bounced back slightly in August. Now they have dropped another $80 since then.