Platts reported that US ferrous scrap prices are rising in July 2008 after falling in June 2008 and despite recent softening in Europe, pushing the Platts price assessment of shredded scrap delivered to Midwest mills to a range of USD 590 to USD 610 per long ton or a midpoint of USD 600 per long ton.

Still in short supply, prime scrap again led the way upward, fetching USD 875 per long ton to USD 900 per long ton, while cut grades including plate and structural and heavy melting grades followed prime increasing to USD 550 per long ton to USD 600 per long ton.

Platts reported following recent scarp related transactions
1. Shredded scrap for USD 605 per long ton, local delivery including USD 10 freight
2. Prime bundle and busheling for USD 890 per long ton FOB yard
3. Plate and structural for USD 600 per long ton FOB
4. Shredded scrap at USD 600 per long ton delivered
5. Prime at USD 890 to USD 910 per long ton