July Scrap Settles Late Last Week

July Scrap Settles Late Last Week

Late last week, Chicago Shredded Scrap finalized sideways for July at $430/ton. The “non-change” was widely expected and will give little pressure for mills to adjust pricing based on raw material cost changes. This is the 4th consecutive month that scrap has finished at $430/ton, showing strong signs of stability in the raw material market. Early expectations are that trend will continue for August.

We will continue to keep you posted on events that affect the rebar market. Have a great week!