RMDAS Prices Rise In The $50 Range In April
21 April 2016
Steel mills in the United States paid up to $55 more per ton for ferrous scrap in April compared to March, according to transaction data compiled by Pittsburgh-based MSA Inc.’s Raw Material Data Aggregation Service (RMDAS) methodology.
Renewed purchasing activity from Turkish buyers was the likely reason mills in the RMDAS North Central/East and North Midwest regions paid larger increases in April compared to the South. However, scrap processors in those northern regions have received less for their scrap in the past several months, a reflection of the weak Atlantic Coast export activity during that timeframe.
While average prices for all three major grades tracked by RMDAS (No. 2 shredded, No. 1 heavy melting steel [HMS] and the prompt industrial composite) rose by $50 or more per ton in the northern regions, in the South No. 1 HMS rose by just $36 per ton and the other two grades by $46 or $47.
Despite the bigger bump-ups in northern prices, as of April northern mills continue to pay less on average for their scrap. In the April buying period, prompt grades averaged $252-$253 in the two northern regions but still fetched $270 in the RMDAS South region.
Source : recyclingtoday.com