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Steel mills have been offering several dollars less per ton for ferrous scrap so far in October, according to figures compiled by the Raw Material Data Aggregation Service (RMDAS) of Management Science Associates Inc. (MSA),
National averages paid for prompt industrial #1 busheling and bundles have been down by $33 per ton in October, while shredded scrap (down $15 per ton) and #1 heavy melting scrap (HMS, down $9) have declined less dramatically. To view a larger chart of the month's prices click on the following link -- This Month's Chart)
The declines were fairly even across all three geographic regions defined by the RMDAS service. Pricing fell slightly less in the South region, but that region’s buyers continue to pay the lowest per ton price for scrap in two of the three categories (prompt industrial and #1 HMS).
The October RMDAS price figures represented some of the lowest national averages since MSA began disclosing national monthly figures in November of 2005.
The only time mills have paid less than the $208 average paid per ton for #1 HMS in October was two months ago in August, when they paid $204.
For the #2 Shredded Scrap grade (for shred with above .17 copper content), which fetched $233 per ton in October, mills have paid less only in August of this year and in January of 2006.
And while scrap in the Prompt Industrial Composite category (#1 busheling and #1 bundles) retains the most value at $249 per ton, its current price is the lowest it has been since January 2006, according to RMDAS.
The Raw Material Data Aggregation Service (RMDAS) Ferrous Scrap Price Index is based on data gathered from a statistically significant compilation of verified ferrous scrap purchase transactions.
RMDAS is a service of Management Science Associates Inc. (MSA),