Ferrous scrap pricing in November rebounded from the dismal state of a month earlier to settle back near September’s levels with $50 per gross ton increases common across scrap grades and across domestic regions.
Very low mill inventories combined with minimal scrap production has created an environment where scrap tags have gained traction. With production levels expected to remain low due to scheduled outages in the manufacturing community, the uncertainty of supply will continue to hover over the scrap market.
Some market analysts are speculating a further $20 per gross ton increase in December though this opinion is far from a general consensus. The expected influx of material due to the ravages of Hurricane Sandy may alter the dynamics of the market somewhat but the impact has yet to be fully realized.
Copper scrap took a different path than that of ferrous in November with prices dropping on average $0.20 per pound from October. Aluminum scrap pricing remained relatively unchanged month-on-month.
Pricing for OCC (old corrugated containers) increased $15 per ton in the Southeast market in November. The price increase was the largest since March. Pricing for SOP (sorted office paper) did not change.
Disclaimer – Prices and market related information shown has been obtained by many sources across many commodity markets. InStream has not verified the information beyond our sources. Information is based on assumptions and projections based on current market drivers. This information is provided as a service and InStream is not recommending action based on the market information provided and is not responsible for the direction of markets and/or results based on the data provided.