US scrap price talks heat up, price spike expected

摘要

Discussions intensified Wednesday between mills and scrap dealers in a US ferrous scrap market expected to see December trading formally begin Thursday. Mill buyers have conceded that scrap prices will move up compared with November levels. "It is certainly up and I don't think anyone is going to be up only $10," one scrap supplier said. "I don't think the mills want to fight the scrap market going up, they want to push coil prices up. It could go up $30 but I think they can get away with $20 too. Everyone is just having the conversations now; I expect it to happen this week, probably [Thursday]."