October US scrap outlook softens to mostly sideways

摘要

Pittsburgh—Expectations of continued price increases following the US September scrap buy week have softened as October buying draws near. Sources predicted sideways pricing from September on most grades once buying begins, with the exception of prime scrap, which many believe could be up $10/lt or more. In the weeks leading up to the buy, sources were heard anticipating up $10/lt or more on obsolete grades and sideways pricing at worst, but several reported a major mill buying group indicating sideways pricing and the outlook began to soften across the market.