September Scrap Post Final

September Scrap Post Final

Yesterday, Chicago Shredded scrap posted a final price of $380/ton, unchanged from the previous 4 months. The 5-month streak is the most consistent streak in over a decade for the shredded scrap market, providing little additional incentive for mills to try and push pricing higher. The increases from June and July have been almost exclusively based on a tight supply of rebar and not increasing costs of production. The early forecast for the months ahead points to scrap moving sideways to potentially down based on declining demand from other steel products that are manufactured from shred driving down the demand for shred and the price with it.

We will continue to update you with developments in the rebar market. Have a great rest of your week!