By Bill Beck - July 11, 2019
When a consortium of Detroit-area mills announced early the week of July 4th that they would be buying ferrous scrap for July at a $10 discount to June prices, everyone expected that Chicago would quickly follow suit.
By Bill Beck - June 11, 2019
Prices that tumbled another $30 in the Chicago and St. Louis markets in June have some brokers that sell into the region’s foundries thinking that decreased flow in the coming months will finally send prices back on an upward trend.
By Bill Beck - May 15, 2019
Prices in Chicago and St. Louis were off a solid $30 in May, putting prices $50 to $60 below where they were at the end of March. Logistics problems, including sustained flooding on the Upper Mississippi River, is making it difficult to ship scrap out of the Chicago district. As a result, material, particularly busheling and bundles, is backing up into Chicago and Indiana.
By Bill Beck - April 8, 2019
Prices in the Chicago and St. Louis regions were off $20 to $30 for April, giving back the $20 bill they increased in March. Spring like weather that encourages the flow of ferrous scrap, coupled with difficulties shipping material by barge to consumers beset by flooding in the Lower Mississippi River Valley left much of Illinois, Indiana and Missouri awash in scrap.
By Bill Beck - March 11, 2019
Prime grades in Chicago and St. Louis recouped $20 of the $50 they have lost since the first of the year, and all other grades with the exception of turnings and borings were also up $20 for the month. Cut grades in the two markets were sideways last month.