Winter weather, mill price increases ignite US scrap market

摘要

Freezing temperatures andwinter storms coupled with $40/st sheet priceannouncements by at least three mills jumpstartedthe January US scrap market soonerthan expected and at higher levels thanexpected on Wednesday.A Detroit-area mill entered the marketWednesday afternoon offering to buy scrapat up $20/lt for prime grades and up $30/lt for cut grades and shredded scrap. On adelivered basis that would equate to No. 1busheling at $360/lt and shredded scrap at$330/lt for local suppliers.