Prime steel scrap prices expected to hold ahead of April trading in US

摘要

Pittsburgh—As April trading approaches, most US market sources expect prime scrap prices to hold steady once buying begins. Finished steel prices remaining at record levels, stable mill demand with still-extended lead times and continued supply tightness are all tailwinds supporting expectations. Tight supply is still heard not only to be due to the ongoing manufacturing constraints from semiconductor chip shortages, but also due to the lengthy finished steel lead times and manufacturers finding it difficult to procure raw materials, creating somewhat of a feedback loop.