
Prices for ferrous scrap are rising again
This January, ferrous scrap prices rose up again. Last two month before the new year the price had been going up and January follows the same trend – the price has been bouncing back from a steep and unexpected drop that affected ferrous scrap in September and October of the last year.American Metal Market (AMM) indicates in their price surveys and indices that the most popular ferrous scrap grades’ prices appreciated from some USD 35 to USD 40 per ton in the beginning of January. In November 2016, Midwest Index prices appreciated up to USD 25 per ton and in December 2016 they went up to USD 45 per ton. In the beginning of 2017, export price climbed up less vigorously, according to the survey by AMM. Grades of heavy melting steel (HMS) purchased by brokers from overseas and foreign mill buyers increased by less than USD 12 per ton on the West Coast and by some USD 18 per ton on the East Coast.