December 20, 2015
Scrap metal prices seems to be finding some steady ground at least for now.
Scrap Metal News
YIEH reports that the US H1 scrap prices averaged at US$150.17/long ton on December 14th, increasing by US$1.67/ton from the previous week.
The average prices of H1 scraps in Pittsburgh were at US$139.5/long ton, keeping unchanged; those in Chicago were at US$152.5/long ton, up by US$5/long ton; and those in Philadelphia were at US$158.5/long ton, keeping unchanged; all in comparison with the previous week.
YIEH also reports that during November 2015, Italy’s scrap steel prices fell slightly in earlier November, but it rose by €10~15/ton in late November.
Meanwhile, Italy several steel mills to further raise the purchasing prices, in order to keep the scrap steel stocks at appropriate level, during the suspension of steel production in December.
Currently, Italy domestic scrap steel (E5) prices are €135~145/tons, those for scrap steel (E3) prices are €165~175 /tons, not including VAT.
Ship Recycling Prices Update
GMS Weekly reports that the steady pre-Christmas supply of vessels showed no signs of abating this week as (at least) another 10 sales were concluded to Indian sub-continent ship recycling markets (both market
The panamax bulker sector is the one hardest hit with vessels in double-digit numbers currently under negotiation, as most owners see the spot freight market trading even below their opex costs. For week 50 of 2015, GMS demo rankings for the week are as below:
|Demo Ranking||Country||Market Sentiment||GEN CARGO
|1||India||Weak||USD 270/lt ldt||USD 300/lt ldt|
|2||Bangladesh||Weak||USD 265/lt ldt||USD 295/lt ldt|
|3||Pakistan||Weak||USD 260/lt ldt||USD 290/lt ldt|
|4||Turkey||Weak||USD 160/lt ldt||USD 165/lt ldt|
|5||China||Weak||USD 125/lt ldt||USD 145/lt ldt|
SCRAP METAL PRICES UPDATE
Copper scrap metal prices
Bare Copper Wire 1.50 to 1.55/LB
Electric Motors 0.07 – 0.09/LB
Plumbing Copper (clean) 1.29-1.50/LB
Sealed Units 0.02 – 0.04/LB
Steel Scrap Prices
Plate and Struct 2’x 5′ $60 – $100 gt
Plate and Struct scrap (unprep) $50 – $80 gt
Heavy Melt 2’x 5′ $50 – $100 gt
Heavy Melt scrap (unprep) $30 gt – $70 gt
Junk Cars $25 gt – $50 gt
Auto Cast $95 gt – $120 gt
Sheet Iron $20 gt to $60 gt