United States Scrap Prices Increase In December
on December 23rd, 2008 at 9:39 amAmerican scrap prices increase
American scrap prices went up by US$113/ton during the beginning of December, even though the demand is still weak and some mills have not only cut output but also lowered stock.
Market participants still remain optimistic for scrap price because steel mills will have to purchase some after new year. Besides, the scrap supply is not much due to weather problem and reduction of automotive output, the price will hike up a little.
Eastern American traders forecast that the scrap price will at least increase by US$15/ton but Western America anticipates US$49/ton.
Source: www.yieh.com
