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Scrap Monster

Articles by Michael Marley

Michael Marley
Michael Marley
Michael Marley is the vice president of World Steel Exchange Marketing (WSEM).
Mike Marley’s Shredded Power #72

Mike Marley’s Shredded Power #72

Plump, well-cooked turkeys and Black Friday shopping sprees may be the main attraction this week, but the real centerpiece for many scrap dealers is their hopes that prices will rise by $30 per gross ton or more next month.
Mike Marley’s Shredded Power #71

Mike Marley’s Shredded Power #71

U.S. steelmakers are facing new challenges from their foreign rivals, but it doesn’t involve unfairly priced imported steel products. Instead, fierce competition awaits some domestic mills if they need to buy much heavy melt and/or shredded scrap next month. December, sometimes a quiet time for both the suppliers of obsolete scrap and the buyers at U.S. mills, could be a hot market this year.
Mike Marley’s Shredded Power #69

Mike Marley’s Shredded Power #69

Scrap dealers, emboldened by the recent increases in domestic sheet steel prices and reports that order lead times at those mills are lengthening, hope to recover what they gave up in October. Many expect scrap prices to increase throughout the country and average prices to rise by $30 per gross ton or more when the mills finish their buys this week.
Mike Marley’s Shredded Power #68

Mike Marley’s Shredded Power #68

Ferrous scrap prices have found a floor, according to two steel executives, and that has encouraged dealers to expect higher offers when the mills buy their November’s melt needs. John J. Ferriola, Nucor Corp.’s chief executive, and Mark D. Millett, his counterpart at Steel Dynamics Industries Inc., told industry analysts last week that they believe scrap prices have bottomed.
Mike Marley’s Shredded Power #67

Mike Marley’s Shredded Power #67

The uncertainty about scrap supplies and demand has generated a mixed short term outlook. Some mill buyers and brokers are talking about a “soft sideways” market in November and December, but their decisions to buy all the available tonnage this month may be sending a different message – namely that they are worried about being short scrap this month or in November.
Mike Marley’s Shredded Power #66

Mike Marley’s Shredded Power #66

Ferrous scrap prices plummeted in most regions of the country last week. As expected, industrial grades were off by an average of $30 per gross ton and obsolete supplies like heavy melt and shredded scrap tumbled by about $20 per ton.
Mike Marley's Shredded Power #65

Mike Marley's Shredded Power #65

Scrap dealers may be ready to shelter in place this month as they face another assault on ferrous scrap prices from the domestic steelmakers. Prices for busheling and bundles are expected to plummet by $30 per gross ton or more this week when the mills begin to make their October buys.

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