| The January US ferrous scrap market began to take shape Tuesday, as upward pricing momentum that started in mid-December appeared to persist into the new year. Mills spurred a price rise starting last month when they tried to secure early tonnage commitments ahead of any potential January price increase.
Additionally, fourth-quarter mill scrap destocking has generated increased first-quarter demand. "Dealers want to sell; mills want to buy," one mill buyer said. "I think we will [finalize January] trade Wednesday or Thursday. I think it will settle at $20 up."..............................................Full Article: Source
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