Quiet start to November ahead of US ferrous scrap trade

摘要

Pittsburgh—The US ferrous scrap market was heard to be quiet on Nov. 3 ahead of November buying, as several sources expected trading to kick off after the US presidential election. "I've never seen the second day of a scrap buy week so dead," said one buyer. Some sources had reported being behind on deliveries in October, while others reported most mills receiving the majority of their orders on time. Regardless, supply was heard to be tightening, particularly on obsolete grades, while demand is steady and expected by many to remain so for the remainder of the year.