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Ferrous (Steel) Market Update - May 27, 2018

Happy Friday! 

 

What a difference a week makes – last week we were experience mid-winter weather and based on my phone’s weather app, we may be breaking 20 degrees next week!

 

With spring comes the eventual market pricing ‘corrections’ in the ferrous world.  Based on the headline in today’s American Metal Market, May looks to be a softer month for steel pricing.  Although the article references US based mills, what happens south of the border influences what happens here. 

 

Per American Metal Market's article, we are now anticipating an adjustment of $10 - $25 on most ferrous prices for May.  This still means that ferrous pricing is exceptionally strong – however, if you are using numbers for quoting purposes, I would suggest that you make some adjustments for next month downward. 

 

Naturally, if you have any questions on the market, please reach out.  We likely will not get firm numbers until the second week of May, but we will get better guidance from our consumers over the next week or so.

 

If you are looking to set up a recycling program or need some more information, don't hesitate to give us a call! We are here to help you!

 

Enjoy the weekend and the summer weather next week.

 

Cheers!

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