Steel scrap price expectations remain firm for September following sheet hikes

摘要

Pittsburgh—The outlook for steel scrap prices in the US remains firm ahead of September trading following finished steel price increases announced the week of Aug. 24. Nucor and US Steel both announced sheet price increases of $40/ st the week ending Aug. 28, lending support to expectations of higher pricing once the scrap buy week begins for September. Several sources believed a lag in finished steel prices was one of the last remaining headwinds for scrap pricing. "There's your scrap market," said one broker of the September trade following the sheet price hikes.