By Bill Beck - February 13, 2019
General market report for Detroit and Hamilton
Following one of the most brutal stretches of cold weather in more than two decades, cut grades in Detroit opened the February market sideways. That’s still off $30 from December prices, but an indication that shredded and plate and structural grades are in increasingly tight supply. In Canada, Hamilton mills were offering to buy cut grades at down $5 Cdn from January prices, which is equal to $4 U.S.
By Bill Beck - January 16, 2019
After going sideways in December, the Detroit market was poised to drop in January. Most in the Motor City ferrous scrap market were hoping for a soft sideways, but when Northstar Bluescope finally made the market early last week, the soft sideways turned into a hard fall. Prices were off $30 across the board, with turnings unable to find a home anywhere at anything better than down $60 from December numbers.
By Bill Beck - December 12, 2018
Expectations in Detroit over the long Thanksgiving weekend were that the Motor City market might be up in December for the third month in a row. But as the December market approached, expectations throttled back slightly. On the first Tuesday in December, all of the major Detroit mills announced they would be willing to buy scrap for the month at November numbers, and the market quickly jumped into line.
By Bill Beck - November 14, 2018
As October wound to a close, many in the Detroit market expected that mills might drag their feet in November, hoping to chip some of the $20 price increase for prime grades and $10 increase for cut grades they paid in October over September prices.
By Bill Beck - October 10, 2018
After dropping $20 across the board in September, prime grades came back strong in October, regaining all of the $20 they lost last month. Cut grades regained half of the $20 they lost in the September market. Still, cut grades are off $30 from August numbers, and many in the Motor City think more ground will be made up next month.