By Bill Beck - February 10, 2020
A Chicago market that has been relentlessly bullish since early November, gaining $70 to $80 in the past three months, finally slowed down in February. Weak export sales in much of eastern North America depressed prices, and Chicago mills were off $10 for prime grades and down $20 for shred and cut grades.
By Bill Beck - January 13, 2020
When Detroit mills quickly settled early last week at up $30 across the board from December prices, there was some concern that Chicago mills might hold out for a $20 premium to December pricing. But by late last Tuesday, mills from Iowa and Nebraska south to the Ohio River had all fallen in line with the $30 increase, the third double digit bump since last November.
By Bill Beck - December 9, 2019
A Midwest market that has been mired in a relentless downward spiral for most of the summer and fall ended the year on a high note. A $30 per gross ton jump across the board in both Chicago and St. Louis, coupled with a $20 increase in November, was the first back-to-back monthly increase in the region in over a year.
By Bill Beck - November 11, 2019
After two straight months of $40 per gross ton drops for prime grades in the two big Midwest markets, Chicago and St. Louis were hoping that the November settlement would be $10, but not discounting the possibility that the markets could be sideways.
By Bill Beck - October 11, 2019
Beset by mill maintenance outages, lackluster exports, and the effects of a lengthening strike against General Motors, ferrous scrap prices continued their search for the bottom, with prices in Chicago and St. Louis off $40 for prime grades and $35 for cut grades. Only turnings bucked the deep downward trend, dropping $10 for the month on strong demand from mills in the South.