Top 5 Events that can help Scrap Prices

Domestic and Global events that can help move scrap prices higher

As we enter the second half of January 2019, Scrap prices remain soft and the prospect of a possible uptick in prices depends on several domestic and global factors. Here are the Top 5 things to look for that can stabilize the scrap market and move prices higher.

1. The Trade relationship between the United States and China finds some clarity.
2. The United States Government Shutdown ends.
3. A pickup in scrap exports to China and Turkey or some indication that other countries are picking up the slack.
4. A rise in other commodities, such as copper and aluminum.
5. Any indication that scrap inventories are starting to soften.

While any one of these events will be viewed as a positive for the markets, we really need most of them to happen for the markets to really turn the corner and get us on a path to where the markets are stable and can reverse the negative trend.