As the January domestic ferrous scrap price negotiations began, it quickly became apparent that the domestic mills hold the power. Suppliers were expecting price increases, and the domestic mills are determined to recover as many dollars as possible in January.
January’s market was formed by limited domestic trade, a lack of export competition, and inclement weather impacting logistics. It is more than likely that domestic ferrous scrap prices peaked in December.
As we begin 2024, non-ferrous markets are seeing slight improvements
. It is expected that prices will not increase until the second half of the year, and a return to normalcy is expected.
The winter months can be a tough time for scrap dealers due to harsh weather conditions and logistical difficulties. Across the country, severe weather has disrupted the flow of scrap, resulting in fewer incoming deliveries. Inclement weather has also slowed outbound shipments to steel mills via truck, barge, and rail. During this time of year, we are focused on overcoming transportation challenges, maintaining machinery, and ensuring that our trucking processes are efficient!
As markets continue to be unpredictable, now would be a great time to ensure you’re getting top dollar for your scrap. Visit us at aarecycles.com and feel free to reach out with any questions you may have at (773) 701-6696.
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