US scrap dealers adjusting to collapsed prices

摘要

US scrap dealers are adjusting to a low-price environment in the domestic market after the February buy week represented the largest single-month price drop since October 2008. Scrap pricing plunged $80-110/lt last week shocking most dealers who found very few homes to place material as mill demand dropped off sharply. Dealer sentiment at a major scrap industry event this week in St. Louis was subdued after the steep price drop and many maintained a gloomy outlook.