Key Market Factors

Prime vs. Obsolete Spread Widening – Obsolete grades under pressure while prime remains supported

Mill Outages Impacting Demand – U.S. Steel, NLMK, and Nucor downtime reducing near-term consumption

Weak Export Market – Limited offshore activity creating excess obsolete supply

Seasonal Supply Increase – Warmer weather improving scrap flows

HRC Supporting Prime Grades – Elevated steel pricing maintaining mill demand for busheling

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We’ve also been working on something in Northwest Indiana that we’re excited to share soon – focused on strengthening how we support manufactures in this market.

How BL Duke Navigates the Market

During the first week of each month—referred to as “The Buy”—our team works directly with steel mills to secure orders across all ferrous grades. The following three weeks are focused on executing and shipping against those commitments.Market dynamics such as supply and demand, mill outages, export activity, weather conditions, and freight availability all play a role in shaping these negotiations. At BL Duke, we focus on shipping-point pricing and leverage our multi-modal capabilities—truck, rail, and barge—to move material efficiently and maximize value for our customers.

Chicago’s Ferrous Scrap Market

In Chicago, April is expected to bring downward pressure on obsolete grades, with declines projected in the $20–40/GT range. Prime scrap is expected to remain relatively stable, supported by domestic mill demand and stronger HRC pricing.

Ongoing mill outages across Northwest Indiana, including U.S. Steel (Gary), NLMK (Portage), and Nucor (Kankakee), are expected to limit demand in the near term while improved weather conditions increase inbound scrap flows.