After declining over the past seven months, ferrous scrap prices gained an average of $20 per ton across the United States in the November buying period.
RMDAS (Raw Material Data Aggregation Service) pricing from Pittsburgh-based Management Science Associates (MSA) shows an average $20 per ton gain for prompt industrial grades, a $17 per ton increase for shredded scrap and a $21 per ton gain for No. 1 heavy melting steel (HMS).
Shredded scrap prices rose $21 per ton in the South, $20 per ton in the North Central/East and $11 per ton in the North Midwest.
Prices for prompt industrial grades climbed $19 per ton in the North Central/East and the South and by $20 per ton in the North Midwest. Prices for No. 1 HMS increased by $22 per ton in the South, $21 per ton in the North Central/East and $16 per ton in the North Midwest.
Ferrous scrap prices declined around $40 per ton in October.
While renewed overseas interest in U.S. ferrous scrap, reflected in Fastmarkets AMM East Coast and West Coast export index numbers, and willingness by domestic mills to reenter the market seemed to help ferrous scrap prices in November, prices this year are weak compared with prices from last year.
View the RMDAS ferrous scrap price index here.