Raw Material Data Aggregation Service (RMDAS) ferrous scrap pricing, as measured by mill purchases by Pittsburgh-based Management Science Associates Inc. (MSA), demonstrated a healthy $20 per ton average rebound in August.
The RMDAS prices, released Aug. 20, cover a buying period that extends to the third week of each month. For August, shredded scrap prices rose between $19 and $22 per ton, while the RMDAS prompt industrial composite grade rose between $22 and $23 per ton and its No. 1 heavy melting steel (HMS) grade rose between $21 and $22 per ton nationally.
Regionally, prompt grades rose by $23 per ton in the South and North Midwest region, while they increased by $22 in the North Central/East region. Prompt grades retain the highest value in the South at $327 per ton compared with $311 in the North Central/East and $313 in the North Midwest.
Shredded and No. 1 HMS rose between $19 and $22 per ton in all three regions. In August, mills in the North Central/East paid less for shredded scrap at $282 per ton compared with $288 in the North Midwest and $298 in the South. Mills in the North Central/East also paid less for No. 1 HMS at $253 per ton compared with $267 in the other two regions.