Section 232 chatter at scrap meeting fuels US March outlook

摘要

Bullish talk continues to persist in the US scrap market although mill buyers are questioning whether all the optimism was driven by fundamentals or by a large gathering of scrap suppliers in St. Louis early last week mixed with Section 232 speculation. "St. Louis Consumer's Night is a bull fest even in the worst of markets," one trader said. "So adding the 232 on top of that I imagine it was euphoric. It does seem that markets are at least firming a bit everywhere right now, but it all still feels a bit artificial and scary."