Recently, U.S. scrap price remained stable since it enjoyed a slight pick-up in January this year.
It is estimated that U.S. scrap’s market will be uncertain in February with the scrap price going up and down.
Due to the slack demand, scrap’s market stays sluggish. Meanwhile, with the cold weather and output cut by the auto-making and manufacturing industry, scrap supply has decreased sharply.
Although the new administration proposed an infrastructure investment plan covering US$90 billion, the economic stimulus package won’t turn the scales in the short run, said analysts.
Analysts predict that U.S. scrap price will fluctuate back and forth in the first quarter and until the second quarter; the domestic steel output and scrap purchasing won’t recover gradually. Source: Yieh.com