Scrap Metal Prices and Scrap Metal Auctions

Scrap price to keep surging in America
The price of global scrap market keeps hectic. For American market, the price of No.1 heavy scrap was about US$523.3/long ton on July 11, up by US$16.7/long ton from two weeks ago. Conversely, the scrap price in Europe faced the descending trend last week due to low demand.

According to the distribution of area in America, the highest price of No.1 heavy scrap was US$/530/long ton in Pittsburgh on July 11, increasing by US$30/long ton from last two weeks. On the other hand, the highest price of shredded scrap was about US$605/long ton in Chicago, surging by US$65/long ton from two weeks ago.

In terms of European market, the scrap price could be slumped by €20/ton on average on July. Especially in UK market, so far the scrap price has fallen by €56/ton

The main reason of price decreasing on scrap is owing to low demand from steel mills in Europe. Besides summer vacation, the demand for scrap from Turkish steel mills also represents down trend, reducing the scrap export from Europe.

News Date 7/15/2008 9:31:21 AM reported by Vince Chuang www.yieh.com

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