It is reported that US scrap market appears soft due to the summer vacation and market activity is very quiet.
In the US, the average scrap price dropped by USD 25 per ton, a wide margin since August 4th 2008. Meanwhile, HMS and shredded scrap prices have been reduced by USD 50 to USD 70 per ton.
Only a few buyers in Turkey and Asian countries are continuing some small quantity purchasing. Distributors are expecting further decreases in prices.
Upstate NY scrap "tin" has gone from $200 a ton to $40 a ton in the last month. I'm seeing more scrap steel left on the curbs for trash pickup as the time & gas are reducing the scrappers. Even a washer or water heater only brings $2-$3. Other metal prices staying high.
Strange when scrap paper is worth almost the same as scrap steel.
US scrap prices to sink further
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Posted - 08/18/2008 : 03:57:48
