January 4, 2016
Here is the latest scrap metal prices and news update for the first week of January 2016.
Reference Scrap Metal Prices Update
#1 Busheling $110 gt to $75 gt
#1 Baling $80 gt to $45 gt
#2 Baling $65 gt to $40 gt
Plate and Struct 2’x 5′ $100 gt to $60 gt
Plate and Struct scrap (unprep) $80 gt to $50 gt
Heavy Melt 2’x 5′ $100 gt to $50 gt
Heavy Melt scrap (unprep) $70 gt to $30 gt
Junk Cars $50 gt to $25 gt
Bare Bright Copper $2.05 lb. $1.90 lb.
#1 Copper $2.00 lb. $1.90 lb.
#2 Copper $1.85 lb. $1.75 lb.
Insul Hvy #1 copper Wire 85% Recovery $1.55 lb. $1.40 lb.
insulated Light Wire 50% Recovery $0.52 lb. $0.40 lb.
EDM Wire $1.40 lb. $1.28 lb.
Brass (hard) low lead $1.80 lb. $1.60 lb.
Copper Rads $1.40 lb. $1.26 lb.
Source Iron Mike Enterprises – Detroit, MI USA
Scrap Metal News
Yieh reports that Brazilian domestic scrap and export prices expect to remain unchanged in early January next year, because of the price has reached the lowest level so far.
Market participants said, Brazilian scrap market activities are likely to downward trend right after both in the Christmas Festival and New Year’s holidays.
Currently, Brazil’s domestic scrap steel prices are at US$114/ton; those for export prices are at US$130/ton. The above prices based on ex-factory.
SHIP RECYCLING PRICES UPDATE
As reported by GMS Weekly – Yet, as the oversupply of the global fleet persists, it could take another few active years of aggressive recycling before any modicum of balance is returned to the shipping markets.
The most alarming facet of the ship-recycling markets this year has been the constant supply of cheap Chinese steel that has been undercutting local inventories and causing the foreclosure of many facilities in Gadani, Alang, and Chittagong.
For week 52 of 2015, GMS demo rankings for the week are as below:
|Demo Ranking||Country||Market Sentiment||GEN CARGO
|1||India||Weak||USD 280/lt ldt||USD 310/lt ldt|
|2||Bangladesh||Weak||USD 275/lt ldt||USD 305/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|