Ship and Copper Scrap Metal Prices Continue to Fall

October 5, 2015

Scrap Recycling News

Yieh reports that the average prices of Japanese H2 scrap in Kanto, Central and Kansai regions were at ¥15,473/ton in the fourth week of September, dropping by ¥8,853/ton from a week ago.

Among them, the average price of H2 scrap in Kanto region was at ¥16,000/ton, dropping by ¥333/ton; that in Central region was at ¥13,720/ton, dropping by ¥600/ton and that in Kansai regions was at ¥16,700/ton, decreasing by ¥500/ton; all compared to the figures in the previous week.

In other news, Yieh reports that Japanese Tokyo steel announced to cut all steel scrap purchasing prices for October. This is the first cut its steel scrap purchasing prices since September 15. After the announcement, its list prices for steel scrap H2 are between¥15,500/ton and ¥16000/ton for their different plants offered.

Ship Breaking Prices

The Indian market stuttered once again following the formation of the ‘cartel’ last week, further followed by a worrying collapse in commodity prices that saw many end buyers withdraw from even offering on available tonnage.



Nervy times returned once again for those cash buyers with unsold inventory in hand as the much-hoped for fourth quarter recovery failed to materialize, instead, seeing prices pulled down (as has been the case for a majority of this year) into the low USD 300s/LDT, which is now the prevailing reality across the Indian sub-continent.

For week 40 of 2015, GMS demo rankings for the week are as below:

 

Demo Ranking Country Market Sentiment GEN CARGO

Prices

TANKER

Prices

1 Bangladesh Weak USD 310/lt ldt USD 340/lt ldt
2 Pakistan Weak USD 305/lt ldt USD 335/lt ldt
3 India Weak USD 300/lt ldt USD 325/lt ldt
4 Turkey Weak USD 165/lt ldt USD 175/lt ldt
5 China Weak USD 125/lt ldt USD 145/lt ldt

 

Reference Copper Scrap Metal Prices

Bare Brite Copper $2.13
No. 1 Copper $2.03
No. 2 Copper $1.87
LT Copper $1.84
Insulated CU Wire #1 65% $1.07
Insulated CU Wire #2 40% $0.54
Low Grade ICW $0.25 to 26 cents