January scrap buy settles up $30/lt in the US, February outlook sideways

摘要

Pittsburgh—The January scrap buy in the US settled up $30/lt across the board, as the bulk of trading was heard to have been completed by Wednesday evening. S&P Global Platts assessed US Midwest shredded scrap at $300.50/ lt delivered mill on Friday, flat from the previous day. Several sources commented on the greater amount of scrap available for sale, particularly P&S grades. This was heard to be due to many sellers sitting on scrap through the winter, especially from demolition jobs, with the expectation that January could be a short-term peak.