RMDAS prices show declining ferrous market

Raw Material Data Aggregation Service (RMDAS) ferrous scrap pricing as measured by mill purchases by Pittsburgh-based MSA Inc. has demonstrated a $30 per ton average decline in May.

The RMDAS price averages, released May 20, cover a buying period that reaches into the third week of the month. U.S. scrap prices dropped $31 per ton on average, while prompt industrial composite grade fell $37 and No. 1 heavy melting steel (HMS) declined by $31 nationally.

Regionally, prompt grades fell more sharply in the North Central/East region, by $39 per ton, while they fell by $36 per ton in the RMDAS North Midwest region and $31 per ton in the South. Prompt grades retain the highest value in the North Central/East at $329 per ton compared with $325 in the North Midwest and $327 in the South.

Shredded scrap and No. 1 HMS fell between $27 and $34 per ton in all three regions. In May, mills in the North Central/East and South paid an average $298 per ton for shredded scrap, while mills in the North Midwest paid an average $297 per ton. Mills in the North Central/East paid less for No. 1 HMS, at an average $269 per ton, compared with $277 in the North Midwest and $282 in the South.