By Bill Beck - February 13, 2019
General market report for Chicago and St. Louis
After skidding $30 in January, prices in the Chicago and St. Louis markets stabilized in February. Prime grades remained soft though, down $20 for the month, while cut grades, shredded and turnings traded at sideways prices to January.
By Bill Beck - January 16, 2019
Thoughts of a second straight sideways market in Chicago and St. Louis evaporated early last week when a bellwether Detroit mill came into the market at down $30 across the board. Before the week ended, sellers in Chicago and St. Louis had offered mill buyers prime and cut scrap at a $30 discount to December prices. Sellers who had turnings to offer felt lucky at the end of the week if they were able to get them to mill buyers at a $60 discount to December numbers.
By Sean Barry - January 16, 2019
Ferrous scrap prices faced heavy downside pressure in January amid a deluge of material generated by slack export trade over the past couple of months and clement weather in many parts of the country that helped keep scrap moving.
By Bill Beck - December 12, 2018
After two straight months of sharp gains, Chicago settled at sideways across the board in December. Some in the market had hoped for a third straight month of gains, but when Detroit mills came out at sideways numbers early in the first week of the month, Chicago followed suit within days.
By Bill Beck - November 12, 2018
For the second straight month, Chicago registered sharp gains in November. The $10 increase in prime grades and $20 gain for shredded and secondary grades means that the Windy City has not jumped $30 across the board since hitting bottom in September.