Ho-Hum November for Scrap Prices
Scrap dealers got a little good news as the negative price trend for scrap prices ended as November brought a $20 per ton increase for most steel prices. This increase came at a much needed time as many in the scrap industry were questioning if and when the bearish sentiment would change. While this small bump in prices does not guarantee any new trend as we head into the winter months, it has provided a little relief and at the very least a brief positive moment in an industry that has been reeling. With November almost halfway done, there is talk that another small increase may take place in December but that can change at any moment. Here at Sikora Metals we are stacking and packing and hope for the positive trend to continue.