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I think it mainly has to do with the economy right now, just like oil prices are fluctuating with the economy. Oil prices are dropping as investors/speculators are seeing a declining demand and are jittery about Europes financial woes and its implications on oil demand. Also China's economy looks to be slowing, and as such has a decreased demand for metals. With decreasing demand prices will go down.
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I asked at my yard today if they heard the prices would be going down and they said anything can happen. I asked him if it went real low do the mills still buy the steel and he said they (the yard) still buy it but he was walking away about the other part so I never caught what he said.
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