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Article: Supply and Demand Still Dominates Ferrous Scrap Outlook: Two foundrymen and three scrap processors offer their insight into the purchasing outlook for ferrous scrap.(Brief Article)
- Article from:
- Modern Casting
- Article date:
- November 1, 2001
- Author:
CopyrightCOPYRIGHT 2001 American Foundry Society, 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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Ferrous scrap metal prices a e low. Will prices remain at way? Will recent events cause them t rise sharply?
During the first week of October, the ferrous scrap market price was estimated at $75. 0/ton. That's the lowest it has been since 1986 (Table 1). That market price estimate, which the U.S. Geological Survey uses to track ferrous scrap pricing refers to the composite No. 1 heavy melt steel sales from Chicago, Philadelphia and Pittsburgh. No. 1 heavy melt, s defined by the Institute of Scrap Recycling Industries (ISRI), is wrought iron and steel scrap that is at least 0.25 in. thick with individual pieces no more than 60 x 24 in. Other common foundry grade ...