Scrap Metal Prices and Scrap Metal Auctions

American scrap has been suffering from a serious price plunge since September because of lower demand in both domestic and global markets; the price will drop again during October but buyers are still waiting to see what the future trends will be.

At present, the angle scrap price is US$320~330/ton in the eastern gulf, the fragment scarp price is US$245~255/ton, and the H1 scrap price is US$210~220/ton. Due to the uncertain financial situation, nowadays most steel enterprises have ceased their purchases.

America mainly sells scarp to Turkey but the export volume has been successively reduced because Turkey has just finished Ramadan (a month of fasting) and due to weak domestic market demand; however, American scrap suppliers are still optimistic, they would be glad to offer CFR US$300/ton (Turkish port), which is US$110/ton lower than last month, if buyers would like to purchase.

Source www.yieh.com

Filed under: Steel Scrap, recycling prices, scrap metal prices