Cancellations on obsolete grades begin ahead of US February steel scrap trade

摘要

At least two midwestern US steel mills announced cancellations on obsolete scrap orders for January delivery ahead of February buying that is expected to see shred, plate & structural grade and heavy melt scrap prices soften. With a high-price environment heard to be drawing a greater amount of obsolete material to market, most expectations for February shredded scrap prices are heard to be down $40-$50/lt, with some as much as down $70/lt.