Slow, steady decline in prices continues….
HR fell $5/ton from $627 ($31.35) to $622 ($31.30)….Has fallen $38/ton ($1.90/cwt) in past 5 weeks
CR fell $8/ton from $835 ($41.75) to $827 ($41.35)….Has fallen $33/ton ($1.65/cwt) in past 6 weeks
GV fell $6/ton from $911 ($45.55) to $905 ($45.25)….Has fallen $32/ton ($1.60/cwt) in past 5 weeks
So in general prices falling $6-$7/ton per week….($0.30-$0.35/cwt)
Cleveland #1 Bushels remained the same from April to May at $390/Gross Ton….The overall movement in the market was sideways to slightly up…
Midwest: Chicago was flat across the board…Detroit mostly flat, up $10 in some grades….Philly had largest increases with $10-$30 across all grades…
South: Ark/Tenn area flat…..Alabama flat with loss of a couple bucks here and there…South Carolina sideways
Mills still churning it out at about a 75% clip…Inventories still quite low at service centers so PO’s continue to be cut to the mills….but all just buying what they need….no re-stocking of inventory going on…Everyone in a wait and see mode as the summer months approach, which typically bring a slight seasonal slow down….