Little activity reported as April steel scrap buy continues

摘要

As April scrap trading continues, little was heard Wednesday amidst continued market uncertainty and broadly reduced scrap demand from steel mills. One Ohio mill was heard to have bought shredded scrap at $240/lt for April delivery, a Chicago mill was heard to be buying down $50/lt on obsolete grades, but little activity was heard confirmed other than that. Most mills were heard to have reduced-, limited-, or no-buy programs for April. Some sources believed suppliers would try to hold off on the drop in pricing in the hopes of a May rebound, but cautioned that sellers needing cash flow may easily be able to fill mills' limited requirements.