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
|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