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
For the third straight month, prices in Hamilton were up. But after increasing more than $30 Cdn in October and November, prices for prime grades were up $4 Cdn for prime grades and $5 Cdn for cut grades.
By Bill Beck - November 14, 2018
After prices for prime grades increased $13 Cdn and $5 Cdn for cut grades in October, the Hamilton market followed with a strong November. Prices for the month were up $18 Cdn for prime grades and $28 Cdn for cut grades, with shredded trading at a $30 Cdn premium to October prices. That’s equivalent to $10 U.S. for prime grades and $21 U.S. for cut grades, slightly more than the $10 for prime grades and $20 for cut grades being paid by nearby U.S. mills.
By Bill Beck - October 10, 2018
Predictions for the Hamilton market were that ferrous scrap prices in Ontario would be up in October, in line with expected price increases in nearby U.S. markets. But when the market settled last Friday in advance of the three-day Canadian Thanksgiving Holiday, price increases were actually weaker than in Detroit, Cleveland or Pittsburgh.