Ferrous Scrap Metal Prices Declining – 30 to 60 Dollars

This alert is provided by Iron Mike Enterprises | 900 Wilshire Drive Suite 202 Troy, MI 48084 | 1.877.476.6645

ALERT: Tuesday May 29th., 2012: Ferrous scrap prices falling fast for June 2012. Down $30-$50-$60?

In other news:

US’s steel long product imports down by 3% m-o-m in April

According to data, the US’s imports of steel long products totaled 270,000 tons in April, decreasing by 3% from 278,000 tons in March.

The slight drop in the country’s April imports of steel long products was caused by a drop in rebar imports caused by lower volumes from Turkey.

Meanwhile, the US’s import licenses of steel long products up to May 15th totaled 95,000 tons, reflecting that the full May imports might be lower than that in April.

Source: Yieh