Don’t we all wish we could predict where the scrap markets are going?
Tracy Porter is no exception.
Porter, the executive vice president of operations for Commercial Metals Company (CMC) and board chairman for the Steel Manufacturers’ Association, sat down with us not too long ago to chat about a number of issues crucial to the steel industry, one of which is the volatility of scrap markets.
While certain short-to-medium outlooks, such as Platts’ recent view, may appear to be bullish for prices, the wild card is still China, as Porter mentions in the video interview above.
“There are a lot of unanswered questions with the new [US presidential] administration and China’s intervention in the coal futures,” a U.S. exporter told Platts. “At the end of the day, there is not enough scrap in the pipeline, here or abroad. It’s a good position to be in if you’re a scrap dealer.”