October Scrap

October Scrap

Scrap finalized Monday at $450/ton, up $30/ton from September and more in line with the recent price announcement on rebar. An upward move was expected, but $30/ton is on the higher side of what was anticipated. Scrap dealers held firm against mills and demanded the higher pricing with limited supply to support their pricing. Mills will have ammunition to fully support the recent $30/ton price increase and expense them to push it through that much harder.

We will continue to keep you posted with rebar developments as they occur. Have a good week!