United States Scrap Metal Prices to Continue to Drop in September
on September 2nd, 2008 at 6:23 amUS scrap market to slow down
Due to the export market softening, a US market participant is predicting that the September scrap price will fall again.
Actually, some scrap prices are already on a downward trend in the local market. Price of busheling scrap is estimated to drop by US$200/long ton to US$650/long ton; shredded scrap by US$155/lt to US$400/lt; and HMS I by US$145/lt to US$300/lt.
Currently, with almost no foreign buyers placing orders, Turkey has become the main destination of American exports. However from this week, Turkey and Middle Easter countries are beginning Ramadan, the religious period that lasts for one month, so for September, overseas market demand will continue to slow down.
Source www.yieh.com
