Prices are falling fast for next months ferrous market

Prices are going to be down way down next month. Any gains made in August and Septembers sideways or down market are going to be wiped away. No one is going to buy next month or buys from the mill will be minimal. Get your steel scrap in as fast as possible. Heck I would take it in 2morrow before the mill orders for the month are filled and they drop the price at the scale. Just a heads up and good luck you are gonna need it.

Thanks for the doom and gloom.

You suck pistonescrap...thanks.

Your advice is greatly appreciated.

#2 Bundles on the Chicago market have dropped $10.00/GT this morning. BUT clean auto cast went up $10.00/GT.

It is a bit early to start making those assumptions. Look at this month. All indicators pointed to an up market right up until a few days into the month. That being said...yes it does look like the market right now could be down $40-$50. I would recommend getting in any iron ASAP. This market is quite the anamoly because usually ferrous and nonferrous trend together but right now nonferrous is through the roof and copper is at almost a 6 month high.

I haven't been wrong yet. I am not saying I am going to be right or wrong just repeating what I have read and heard. Key you and I both know when mills need feedstock they can up there prices at a moments notice will that price hold I don't know I don't hold the cards. We have seen months were shred skyrockets and busheling plummets. The markets have been upside down a few times already this year in certain markets. Cleveland and STL being two that I can vividly remember this year where bush was worth less then shred. The market has been anything but normal these last few months. Wild swings in prices and mills pulling all the punches they can to lower the price. AMM isn't always spot on with there prices either. They do a ton of research though and I commend them for that.

My price just got dropped $15 a ton without any warning. That really bites on the 17,000lb I just sent in.

PSP, what mills are you talking about, USA mills or over sea's mills. I just brought a load of shred to the yard today and the price was the same. But where I live all the yards ship over sea's. I don't know if that makes a difference or not. Just saying.

$175 ton for shred/white goods here in kansas city, i haul shred once a year during the summer when demand is high, we decided to skip hauling this year because prices have been below $200, i will have 20+ tons ready to go next summer, can fit 3 cars on our 24ft trailer plus a good load in the 8ft bed for about 4 tons per load

Was I right or was I right? Its a trick question by the way. Prices will be down 30 to 40 bucks for next months market. Can't say I didn't warn you about 9 days ahead of time.

Originally Posted by PistoneScrapProcessing

Was I right or was I right? Its a trick question by the way. Prices will be down 30 to 40 bucks for next months market. Can't say I didn't warn you about 9 days ahead of time.

Thank you PSP. $30-$40 is a LOT of drop. Holy crap.

There should be a thread just for this.. I missed this thread and now missed the opportunity. If there was one thread for the key people in the bigger yards to post in then it would be easier to track. Thanks PSP, you should give the same warnings about price increase too!

You were right

Things are pretty tight and a lot of competition as it is, starting to think I need to get a job. Getting burnt out on scrapping maybe a job and scrapping part time will work out a little better. F This. LOL