Ferrous prices - Prices continue to drop
As summer ends and fall looms on the calendar, September is looking to bring yet another decrease for steel markets across the country. Scrap flow remains strong at the local yards, but low oil
prices and global market chaos have slowed production at steel mills everywhere. The demand for domestic steel products has been weak in the first half of the year and as troubles continue in our petro economy, there is little hope of a strong turnaround in demand.
Simply put there is far too much supply for too little demand and the bottom line is expect low prices to stay for the near term.