Ferrous scrap prices in Canada rose by about C$30/nt (US$21/gt) for January delivery following trends established earlier in the week in the US.
Prime scrap prices rose by C$30-32/nt in Toronto mill and C$28/nt in Montreal as demand from mills picked up.
In Toronto, the Davis Index for #1 bundles rose to C$345/nt delivered mill, Thursday from C$315/nt in December, while #1 busheling moved to C$342/nt, up from C$310/nt.
The Davis Index for HMS 1&2 (80:20) rose by C$32/nt to C$287/nt and P&S 5ft increased to C$313/nt from C$285/nt in December, while shredded scrap prices rose to C$344/nt from C$315/nt. Machine shop turnings increased by C$30/nt to C$225/nt.
Demand in Hamilton for P&S scrap was lower this month as one mill has secured its own supply from a demo job. Still, several dealers were given price increases as the mill made adjustments after the grade’s price fell out of sync with market levels.
In Montreal, the monthly Davis Index for #1 busheling delivered mill rose to C$313/nt, up by C$28/nt from C$285/nt.
The index for HMS 1&2 (80:20) rose by a similar C$28/nt to C$253/nt while P&S 5ft prices rose by C$30/nt to C$273/nt. Machine shop turnings increased to C$203/nt, from C$175/nt, and shredder feed prices increased by C$23/nt to C$188/nt for January deliveries.