By Bill Beck - November 11, 2019
What was perhaps most surprising about the November settlement was the uniformity of the $20 price increase. In the week before NorthStar Bluescope Steel announced it would pay $20 more across the board than it did in October, speculation in the ferrous scrap community was that price increases would be stronger in the South and weaker in the Midwest and Ohio Valley.
By Bill Beck - October 11, 2019
After dropping $80 from May until July, ferrous scrap prices in Detroit and Hamilton bounced back slightly in August. Now they have dropped another $80 since then.
By Bill Beck - September 10, 2019
What appeared two weeks ago to be a $20 correction back to July price levels turned into a more pronounced drop in the week after Labor Day. Detroit mills quickly settled late in the week at down $40 on prime grades and off $30 on cut grades. Ontario markets followed early in September’s second week with a similar sharp drop.
By Bill Beck - August 13, 2019
After dropping $80 since May, ferrous scrap prices in Detroit and Hamilton finally began a slow upward climb in August. Detroit mills were out of the gate on August 2 with a $20 across-the-board increase. Mills in nearby Ontario settled early the next week at a $27 Cdn premium to July, equal to just over $20 US at the current exchange rate.
By Bill Beck - July 11, 2019
After dropping $70 in May and June, ferrous scrap prices in Detroit and Hamilton slowed their downward momentum in July. Two days before the industry in the United States took its extended July 4th holiday, a consortium of Detroit mills announced it would buy scrap at a $10 discount to June numbers. Canadian mills, which had celebrated their three-day Canada Day holiday earlier in the week, waited until late this past Monday to bring prices off $18 Cdn for prime grades and $15 Cdn for cut grades for the month.