United States scrap prices are likely to continue its up-trend in January. All talk in the run-up to January “buy-week” has pointed to this occurring, with a $10-30 a long ton rise (dependent on location) being widely bandied about.
As per TSI, domestic scrap prices in the US rebounded in December, with the monthly average prices of shredded scrap for domestic deliveries increasing by $6 a long ton to $336 a long ton.
In a latest TSI Survey, US participants have long been looking to January as the month where restricted seasonal supply will translate into rising prices.
Participants hold mixed views on the direction of the market heading into January. Some are steadfast in their opinion that scrap prices will head higher, and mills will simply have to take a hit over the winter months whilst the supply of scrap remains restricted.
Others find it hard to see much more upside for scrap prices given the continued struggle faced by mills to place their finished steel .
If the widely-predicted buoyant US domestic market in January materializes, however, this will mean there is less scrap available for export.
Zhejiang Yaang Pipe Industry Co., Limited