Scrap Metal Prices Continue to Decline Worldwide

November 7, 2015

Scrap metal prices continue to decline across the globe. We have provided updated scrap metal and ship breaking prices below along with some recent news.

Reference Scrap Metal Prices

Copper Scrap Metal Prices per lb

Bare Bright $2.01
NO. 1 $1.94
NO. 2 $1.82
NO. 3 $1.67
INS. #1 $1.34
House Wire $1.01
INS. #2 $0.71
INS. #3 $0.51
INS #3 W/ENDS $ 0.32
Christmas Lights $ 0.15

Steel Scrap Metal Prices per Ton
2’ Plate & STR $120.00
5’ Plate & STR $95.00
AF Structural $120.00
Short Steel $90.00
Mixed Cast $85.00
Clean Motor $135.00
Unclean Motor $60.00
4 x 2 $90.00
Diesel Motor $30.00
Unprepared $50.00
Unprepared Structural $65.00

Source: Fair Salvage Company – Clare Division – Ph: 989-386-7552
2731 E. Grass Lake Road, Clare, MI

LION SHIPBROKERS – WEEKLY REPORT

Demolition: Shipowners are holding out for better rates to sell their older tonnage as demo rates have collapsed. As China has flooded the global market with cheap steel billets, metal from old ships is  being bought even below $300 per lt by breaking yards in Subcontinent compared to $500 per lt same time last year. In Turkey, rates are stable at about $170 per lt while in China the trend is negative, paying less than $145 per lt.


3rd Quarter Overview

Scrapped Ships                            Category
India 34 (28%)                              Bulk carrier 46 (38%)
Bangladesh 27 (22%)                    General cargo 22 (18%)
Turkey 21 (17%)                           Other/Offshore 18 (15 %)
Pakistan 12 (10%)                         Tanker 14 (12%)
China 8 (7%)

(Source: Robin Des Bois)

For an overview of the recycling market rates this week, please check our comprehensive demometer below:

LION’S DEMOMETER (USD $ / LT)
COUNTRY           BULKER         TANKER     CONT/TWEEN    TREND
TURKEY              160-180         180-190        170-180                 stable
PAKISTAN           300-310         325-320               –                       soft
INDIA                   280-290         310-320         310-320                 soft
BANGLADESH    300-310         310-320          310-320                soft
CHINA                125-135          135-145           135-145               soft

SCRAP METAL NEWS

As reported by YIEH – According to Japanese market participants expected, Japan’s domestic scrap demand remained flat and it was not significant changed in the market in November. However, there was no any sign to show the prices rebounded so far. In addition, most market participants believe that Japan’s steel scrap market will continue in stable in November.

Yieh also reported that the average prices of Japanese H2 scrap in Kanto, Central and Kansai regions were at ¥13,673/ton in the first week of November, dropping by ¥98/ton from a week ago.

The average price of H2 scrap in Kanto region was at ¥14,000/ton, dropping by ¥167/ton; that in Central region was at ¥12,320/ton, holding steay and that in Kansai regions was at ¥14,700/ton, decreasing by ¥125/ton; all compared to the figures in the previous week.