US scrap prices drop in early September

NEW YORK (Scrap Monster): The scrap prices have stayed in downward trend in the United States domestic market in early September this year.

In August, as most steelmakers predicted that the scrap prices would continue falling to September, they purchased huge amounts of scraps in August, causing the purchase volumes drop in September.

At present, the H1 scrap prices in the Midwest America have decreased by US$15~US$20/long ton to US$349~US$354/ton. The shredded scrap prices have fallen by US$23~US$28/long ton to US$372~US$377/ton.

Also, the scrap prices have dipped by US$15/long ton in Eastern America.

It’s analyzed that the weak demand and decreased prices for finished steel products have caused the price dip in the US scrap prices.