A renewed demand for finished steel, higher steel mill utilization rates and mills actively on the hunt for ferrous scrap in recent weeks all point to a strong ferrous scrap trade in the United States in September.
Higher numbers have already been tossed around, with sellers expecting scrap prices to rise by $20-40 per gross ton depending on the grade and the region in the pending trade. Some suggested supply might be unable to cover demand, which will motivate mills to be in and out of the market by Friday September 4.A shredder source selling into the Carolinas agreed and said mills have had their targets set...