Free Grey Cast Iron Price Trend and Forecast New York
- Location: New York, New York, NY, United States
Grey Cast Iron price are declining in the US domestic market due to dwindling raw material costs. A combination of adequate prime scrap supply, slight improvements in iron metallic substitute imports, shifts in melt-mixes, and falling pig iron and finished steel prices are devising to leave busheling prices gullible to the additional downside in June, which could further narrow the busheling/shredded scrap spread. As per market players since April, a pullback in pig iron pricing has heavily weighed on US mills' tolerance for higher prices, with further declines likely to weigh on bushel prices in July. Prices also extended declines for a seventh week, with lead times between 3-6 weeks. On the supply side, seasonal shutdowns among significant automakers in June could counter some downsides that would likely slow down the month. However, the ferrous trade for June spread showcases signs of normalizing again.
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