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Article: Lower gear: the ferrous scrap market is far from idle, but it appears to have downshifted from its previous high-speed journey.(COMMODITY FOCUS)
- Article from:
- Recycling Today
- Article date:
- November 1, 2006
- Author:
CopyrightCOPYRIGHT 2006 G.I.E. Media, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Throughout the past two years, buyers, processors and shippers of ferrous scrap have been involved in the market equivalent of a high-speed chase.
Demand for ferrous scrap has hit an all-time high as the North American economy has enjoyed several strong years in a row at the same time that the People's Republic of China has quickly constructed a steel industry that is the world's leading producer and consumer of- finished steel.
Both buyers and shippers of ferrous scrap are anxious to find out whether per-ton pricing in the $250 range will continue into 2007 or whether a downward drift in pricing is likelier.
As always, forecasting remains a ...