RMDAS Ferrous Prices Rebound

Scrap processors were paid slightly more for their ferrous scrap grades in September, gaining back some of the per ton pricing they lost in August.

The North/Central East region showed some of the strongest gains, with per ton pricing gaining from $10 to $20 depending on the grade, according to figures compiled by the Raw Material Data Aggregation Service (RMDAS) of Management Science Associates Inc. (MSA), Pittsburgh. (To view a larger image of the chart click on the following link -- September RMDAS Pricing).

Figures for all regions of the United States combined showed per ton price gains of $17 for #2 Shredded Scrap, $13 for #1 HMS and $8 for the Prompt Industrial Composite grade of new production busheling and bundles.

Regionally, some of the strongest gains were seen in North Central/East region, where #2 Shredded Scrap was purchased at an average rate of $20 more per ton by the mills. The #1 HMS grade in that region also gained $14 in value based on September purchases.

The gains were narrower in the North Midwest and in the South. In both regions, the Prompt Industrial Composite grade inched up just $2 per ton and #2 Shredded Scrap gained $12 in value.

Per ton pricing being paid by mills well above the $200 per ton mark continues to push ferrous scrap toward a likely record year in average value.

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.

To view the complete set of monthly Ferrous Scrap Index figures released by MSA, including those on a regional basis, click on the following link -- Index Figures.

RMDAS is a service of Management Science Associates Inc. (MSA), Pittsburgh. Those seeking more information about RMDAS can contact MSA’s Ralph Pinkert at 773-588-1199 or via e-mail at RPinkert@MSA.com.