US scrap market puzzles over price
A higher than expected jump in US scrap prices has some in the scrap market feeling skittish about volatile prices, Steel Business Briefing notes.
“The numbers have gotten out of control,” said one Midwestern US scrap buyer, while predicting the market would go up again in January. “There will be no way that mills can pass along that kind of a steel increase to their customers…therefore it will create a margin squeeze on the mills, which isn’t good for anyone.”
Courtesy: Steel Business Briefing