Shred price forecast?

Patriot the correlation between oil prices and scrap prices go lock in step. When oil is up so is scrap. More rigs driving more pipe into the ground using your recycled scrap that was melted down at an American mill. Unless it's imported pipe which is currently being dumped on our shores at a unreal rate. The strong dollar isn't helping either. It's actually doing more harm to the economy then low oil prices. Who's gonna buy our scrap when they have cheaper alternatives due to our strong dollar. Look at all the layoffs recently. Evraz and us steel both laying off employees. Cat laying off people in the mining sector. When the price is low is it cheaper to mine or buy scrap. You know the answer to that I am sure. Mills have months worth of inventory on the ground and the melt schedules are being reduced daily. Maybe this tidbit of info will help u out.

Weekly Raw Steel Production - January 31, 2014

In the week ending January 31, 2015, domestic raw steel production was 1,782,000 net tons while the capability utilization rate was 75.4 percent. Production was 1,824,000 net tons in the week ending January 31, 2014, while the capability utilization then was 75.8 percent. The current week production represents a 2.3 percent decrease from the same period in the previous year. Production for the week ending January 31, 2015 is down 2.4 percent from the previous week ending January 24, 2015 when production was 1,825,000 net tons and the rate of capability utilization was 75.9 percent.

Adjusted year-to-date production through January 31, 2015 was 8,108,000 net tons, at a capability utilization rate of 77.4 percent. That is up 0.4 percent from the 8,079,000 net tons during the same period last year, when the capability utilization rate was 75.8 percent.

Broken down by districts, here's production for the week ending January 31, 2015 in thousands of net tons: North East: 217; Great Lakes: 670; Midwest: 226; Southern: 582 and Western: 87 for a total of 1,782.