It's reported that the scrap price is expected to rise by US$20/ton in the US domestic market in December, driven by the increased rebar prices.
In fact, the US scrap suppliers previously predicted that the US scrap prices might increase slightly by US$10/ton in December as the production capacity of the US steelmakers might fall in the given month due to winter.
However, as the local steelmakers hiked rebar prices by US$11/short ton in this week, it's estimated that the scrap prices might rise by US$20/ton in the US domestic market.