US scrap dealers resisting earlytalk of down November pricing

摘要

Facing a potential fifth-consecutivemonth of declining prices, scrap dealerresistance to lowering prices is growingthroughout the US market. Early mill indicationsof lower-priced bids for November scrap buysare not being well received by a dealer basewitnessing abysmal inventory flows.“The market has bottomed,” one dealersaid. “I think that supply is a lot less than themills think it is. The people calling the marketdown $10-$20 are the mills. I haven’t heard onedealer tell me the market is down.”