US steel sentiment remains bearish as uncertainty looms over the demand outlook: survey

As trade begins for November delivered scrap prime grades fell by $30/lt by the mills and shredded scrap prices moved lower by $20/lt so far as HMS scrap exports have taken out the September lows.

Both the domestic and export markets have been trying to find a bottom despite seven consecutive months of falling domestic scrap prices including November, which has kept the pressure on finished prices, especially across long products despite fabrication still seeing a backlog of demand.