Aluminum Scrap Markets
June 4, 2024
June recycled metals market showdown
Written by Gabriella Vagnini
As we approach the June buy for ferrous scrap, the sentiment is leaning toward weaker prices, but the extent of the decline remains uncertain. Mill buyers are sensing an opportunity to capitalize on softer steel prices and weaker demand. With no urgency to buy, they believe prolonged negotiations could drive prices even lower. The cancellation of undelivered May orders and ongoing scrap shipments on the TBD platform set the stage for potential price drops.
Factors Supporting a $20/gt or More Decline:
