Scrap Prices North America
October Busheling Scrap Tags Flat at Large Detroit-area Buyer: Sources
Written by Ethan Bernard
October 6, 2023
A large Detroit-area scrap buyer has settled scrap tags for October, with busheling scrap sideways, sources told SMU.
Meanwhile, prices for both plate and structurals as well as for shredded scrap fell $20 per gross ton, respectively, from September, they said.
UAW Strike Keeps Prime Steady
The United Auto Workers (UAW) strike likely kept busheling prices unchanged, one source said.
Also known as prime scrap, busheling refers to the pieces of metal left over from industrial processes such as automotive stamping. Fewer auto plants running means less prime scrap generation.
A second scrap source agreed.
“They did not want to miss the last, best prime buying opportunity of the year and give their competitors the inside track to accumulate prime scrap,” the second source said.
“Concern about tightness in the prime market from the strike was definitely a factor,” he added.
The Detroit-area settlement is important because it often sets the tone for scrap prices nationally.
September Settlement Recap
SMU will report updated scrap prices for October once more regions are settled.
Our September scrap prices stood at:
• Busheling at $380-420 per gross ton, averaging $400, down $50 from August.
• Shredded at $370-410 per gross ton, averaging $390, unchanged from August.
• HMS at $310-350 per gross ton, averaging $330, unchanged from August.
Ethan Bernard
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