Continuing Iron Age's Century-Long Tradition

Regional Market Reports

Why did prices go up in one city and not in another? Did local steel production increase? What are scrap prices going to do next month? The answers are in these reports.   

 

Detroit

Detroit, Ontario markets down sharply in September

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.
 

Detroit and Hamilton markets finally bounce off the bottom

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.
 

Detroit, Ohio, Hamilton Down, But Market At Bottom?

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.

Markets in Detroit, Ontario continue to fall

By Bill Beck - June 11, 2019

The relentless downward pressure on ferrous scrap markets has pushed prices in Detroit and nearby Hamilton down $70 to $80 in just the past two months. A market that appeared at Memorial Day to be sideways to maybe even up a little bit quickly deteriorated in the last week of May and into the first week of June. When settlement was finally reached in the middle of last week, prices were off $30 across the board in Detroit, and $37 net ton CDN in nearby Ontario.
 

Detroit, Hamilton off $40 on prime grades in May

By Bill Beck - May 10, 2019

A glut of prime grade scrap, mill inventory reductions and lackluster export activity all combined to drive busheling and bundle prices down $40 per ton in the Detroit market in May. Cut grades and shredded were marginally stronger at down $30, while turnings and borings were off an average of $35 from April pricing.
 

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