Standing orders.Pricing momentum seems to have swung back to scrap dealers scrap dealer n → chatarrero/a scrap dealer n → marchand m de ferraille scrap dealer scrap n → as March has progressed, as overseas buyers and domestic mills have been dueling The fighting of two persons, one against the other, at an appointed time and place, due to an earlier quarrel. If death results, the crime is murder. It differs from an affray in this, that the latter occurs on a sudden quarrel, while the former is always the result of design. to snap up available supply. Many dealers were claiming in early March that their supply was already committed for the rest of the month. "I've I've Contraction of I have. I've I have I've have got a home for everything in my yards," says one Midwestern dealer of his ferrous ferrous (fĕr`əs), iron in the +2 valence state. Containing or having to do with iron. The difference between ferrous and ferric is the number of valence electrons they contain (ferrous contains two and ferric contains three), which scrap inventory. The same dealer reports that domestic mills are back in the markets for higher grade scrap, after spending the last several months melting more pig iron pig iron: see iron. pig iron Crude iron obtained directly from the blast furnace and cast in molds (see cast iron). The crude ingots, called pigs, are then remelted along with scrap and alloying elements and recast into molds to produce , iron alternatives and lower grade scrap in an effort to avoid costly premium grades. In March, buyers in many parts of the country worked their way through their supply chains to find ferrous scrap that was not yet spoken for. Steel mill capacity figures are indicating that mills continue to have full order books as they melt at a healthy 90 percent or more of capacity on average. [GRAPHIC OMITTED] Good news from the U.S. economy in mid-March may fuel even more optimism and spending, keeping the steel-intensive auto and construction segments healthy. Their situation has not been helped any by increased demand from China. While Chinese steel mills have been buying from the North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. market for some time, Chinese foundries are now also part of the equation. While not needing to buy in bulk shipping amounts, Chinese foundries have been increasingly willing to buy container shipments of ferrous scrap. This type of overseas order has been steadily building for the past several months. Market watchers are split on whether global supply to feed hungry Chinese steel furnaces is catching up with demand. Scrap suppliers might be getting a preview of the push and pull forces that will affect their market for the rest of the year by watching iron ore pricing negotiations between steel mills and their suppliers. In March, these negotiations started off with some iron ore suppliers asking for higher pricing for throughout 2005. It appears, though, that steelmakers may be able to suppress To stop something or someone; to prevent, prohibit, or subdue. To suppress evidence is to keep it from being admitted at trial by showing either that it was illegally obtained or that it is irrelevant. the price increases because several major suppliers have ramped up production to meet the new global reality of China as the new number one consumer of iron ore and ferrous scrap. (Additional news about ferrous scrap, including breaking news and consuming industry reports, is available online at www.RecyclingToday.com.) |
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