Scrap suppliers watching strike against gm, but see no October- market impact

摘要

The longer the strike against General Motors continues the greater the impact on ferrous prime scrap supply, though weak demand from steel mills in the US remains the main concern of domestic scrap suppliers. Now in its fifth day, the strike affects 31 GM factories and 21 other facilities. “As far as the October scrap market, we’re not anticipating a [pricing] shot in the arm as a result of the UAW strike against GM,” a US scrap supplier said Friday. “Demand weakness from the mills is the big issue, given leaner output and outages stacking up for the fourth quarter.”