Ferrous Scrap Prices Decline in May

U.S. steel mills have reported a price drop on ferrous scrap of $20 per gross ton starting the month of May, accross most markets.  The trend is attributed to a drop in demand from steel mills due to stocked inventory.

May Ferrous Prices according to the Scrap Monster Index:

#1 Busheling down to $380 per gross ton, down $20 from the previous month.

Shredded Scrap down to $370 per gross ton, down $20 from the previous month.

HMS #1 down to $340 per gross ton