By Bill Beck - January 13, 2021
Scrap prices across much of the Midwest accelerated into January, fueled by mill and export demand, exceeding the explosive settlements of December. After increasing $90 for prime grades and $80 for cut grades last month, ferrous scrap was up another $80 to $100 in January.
By Bill Beck - December 10, 2020
A Midwest market that was expected to be up $30 to $50 at the beginning of December literally exploded as the first week of the month progressed.
By Bill Beck - November 10, 2020
A Chicago market that had dashed dealers’ hopes in October by going sideways in the face of what seemed to be strong fundamentals appeared to be headed in the same direction as the November market developed last week.
By Bill Beck - October 13, 2020
After a sharp upward bump of $30 on prime grades and $40 on cut grades in September, expectations were that the Chicago and St. Louis markets could see further gains in October. Mills in the region remain busy, with order books out six to eight weeks, and hot-rolled coil prices (HRC) topped $630 a ton – increasing the spread between HRC and the key raw material grade of no.1 busheling in Chicago to $417.30 per gross on October 8 compared with $395.20 per gross ton at the start of the month and $245.70 per gross ton on July 9.
By Bill Beck - September 9, 2020
A market that had been relentlessly bearish since late spring took a decidedly bullish turn at the end of summer. Chicago was up a solid $30 on prime grades and $40 on cut grades in a sign that mills and foundries are feeling optimistic about the future. St. Louis, which sends much of its scrap downriver to mills on the Lower Mississippi, was up $40 on nearly all grades.