By Bill Beck - October 12, 2021
The Chicago and St. Louis markets were quick to follow the lead of Detroit, which came out at down $20 on prime grades and sideways on pretty much everything else. But a continued shortage of shredded material in both regions pushed the price of the bellwether grade up $10 for October.
By Bill Beck - September 13, 2021
While September markets in Detroit and points east along the lower Great Lakes generally concluded trading prior to the Labor Day Holiday, it wasn’t until this week that markets in Chicago settled.
By Bill Beck - August 9, 2021
After Detroit mills settled at no change for prime grades and down $20 on pretty much everything else, some mills in the Chicago and St. Louis markets attempted to push prime grades down $10 and shredded down $30, but they came to the table when strong dealer pushback in the Midwest became apparent.
By Bill Beck - July 12, 2021
After Detroit mills settled at up $20 for prime grades and sideways on pretty much everything else, some mills in the Chicago and St. Louis markets held out for cut grade pricing of down $10, arguing that the region was awash in shredded and heavy melt grades. But dealers argued that staffing and transportation problems, coupled with continued strong mill demand, dictated pricing no worse than sideways.
By Bill Beck - June 10, 2021
Going into June, mills in Chicago and the Midwest realized that scarce supply of scrap and continued demand from export buyers dictated a hefty increase. Accordingly, they were out early in the month offering to buy at a $50 across-the-board premium to May pricing.