Down $20/lt scrap move in US Midwest gets mixed reviews

摘要

A Wednesday morning entry into the April ferrous scrap market by a Detroit-area mill atdown $20/lt was met with some surprise and relief by scrap suppliers who feared a largerdownside.The entry by the mill was followed almost immediately by three other mills in Michigan asthey offered down $20/lt for all grades of scrap for April delivery.“I’m not sure what the love affair is with the down $20 number,” one mill source said. “Itcould have easily dropped more, and still might. If not, dealers should take it and run.”