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.
By Bill Beck - May 11, 2021
When mills in Detroit offered to purchase prime grades at no change to April pricing and cut grades and shredded at a $20 premium to last month, many U.S. markets quickly followed suit.
By Bill Beck - April 13, 2021
What had appeared to have the potential for a long, drawn-out settlement in the Chicago and St. Louis markets early last week quickly turned around by mid-week. Detroit mills announced Tuesday that they would buy prime grades at no change to March prices, and offered down $20 on cut grades and shred.
By Bill Beck - March 9, 2021
A siege of brutal winter weather that stretched from Texas to the Great Lakes in the shortest month of the year and a continuing shortage of silicon chips that is slowing down North American automotive production contributed to a relatively quick March settlement.
By Bill Beck - February 10, 2021
After increasing $90 for prime grades and $80 for cut grades in December, ferrous scrap was up another $80 to $100 in January. That came to a screeching halt in February, when mills pushed cut grades down $50 and held prime grades sideways in a fairly quick monthly settlement.