During the first week of each month, referred to as “The Buy,” our team negotiates with steel mills to secure purchase orders for all ferrous grades. The remaining three weeks are then focused on fulfilling these orders. Various factors, including supply and demand, mill outages, export demand, weather conditions, and the availability of freight and cost, impact these negotiations. At BL Duke, we prioritize shipping point pricing and take full advantage of our ability to ship materials via truck, rail, and barge.
In December, the Chicago market is expected to settle sideways for the seventh consecutive month. Most major mill outages that began earlier are scheduled to wrap up by the end of November. These shutdowns, which started in August, have reduced scrap demand and pressured prices downward. Many other U.S. flat-rolled steelmakers are expected to re-enter the market as they complete maintenance.
