Steel price increases could buoy February US scrap prices

摘要

With rising steel prices andfurther increase attempts this week, US steelmills may be reluctant to push down scrapprices if the opportunity presents itself inFebruary negotiations, which are expected tostart next week.Downside potential for February scrappricing began to emerge late this month amidimproving scrap flows and a weakening bulkscrap export market. Some dealers still insistpricing is sideways at worst but more millsare starting to believe they can lower theirscrap cost, particularly on prime grades. Thequestion now is whether they want to or not.