Hello Everyone,
The U.S. Steel Corp. has come to an agreement with United Steel Workers pending ratification. This deal announced along with the news that China is rolling back production of new steel in 2016 could point toward rebounding scrap steel markets. Ironing out labor concerns domestically would indicate a positive outlook short term for U.S steel producers who maybe anticipating increased demand both at home and worldwide. As we come into the new year Excel Recycling is looking at this news as pointing to what should be the bottom of the market and a feeling that better pricing is coming in 2016.
Wayne