February ferrous scrap prices slide

Ferrous scrap prices in February are down compared with the January .

As measured by Pittsburgh-based Management Science Associates (MSA), RMDAS (Raw Material Data Aggregation Service) pricing for the month of February shows shredded and No. 1 heavy melting steel (HMS) are down $25 per ton, while prompt grades fell by $16 per ton.

Shred scrap fell by $22 per ton in the North Central/East, by $27 per ton in the North Midwest and by $28 per ton in the South. HMS fell by $17 per ton in the East, by $31 per ton in the Midwest and by $30 per ton in the South.

A ferrous scrap buyer based in the Midwest says ferrous prices in February are down because of several factors, including oversupply in the global market coupled with export numbers off the East Coast and the coronavirus outbreak in China.

View the RMDAS ferrous scrap price index here.

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