Here is your weekly scrap metal prices update for May 17, 2016.

Scrap Ship Vessel Prices Update

Source: GMS Weekly – (This is only a summary) The anticipated drop in vessel prices finally materialized this week, with very few end buyers willing to talk numbers on new vessels as sentiments soured rapidly by the day. Although local fundamentals have not changed dramatically in the sub-continent, declines in Chinese and Turkish local steel prices were the driving forces behind the negative impact on competing / sub-continent markets.

It will take minimal changes in the budgets of Pakistan and Bangladesh and a continued stability in local steel plate prices, in order for confidence to return to local markets so that the recently reticent end buyers start to offer on available tonnage once again.

For week 20 of 2016, GMS demo rankings for the week are as below:

Lion Ship Brokers also reports the following
LION’S DEMOMETER (USD $ / LT)
COUNTRY BULKER TANKER CONT/TWEEN TREND
TURKEY 200-210 210-220 200-210 firm
PAKISTAN 270-280 305-315 – soft
INDIA 260-270 290-300 285-295 soft
BANGLADESH 280-290 310-320 305-315 firm
CHINA 180-190 185-195 185-195 firm
 

Reference Scrap Metal Prices

COPPR SCRAP METAL PRICES

No. 1 Copper $1.76
No. 2 Copper $1.68
Clean Auto Radiators $1.26
Aluminum Cans $0.44
Sheet Aluminum $0.44
Clean Cast Aluminum $0.51
Clean Aluminum Wheels $0.54
Clean 304 Stainless Steel $0.31
Batteries (Lead Acid / Auto) $0.22
Insulated CU Wire #1 – 75% $1.04
Insulated CU Wire #2 – 50% $0.49
Low Grade ICW $0.07
Yellow Brass $1.31

STEEL SCRAP PRICES

Prepared $120/Ton
Unprepared $60/Ton
Sheet Iron $110/Ton
#1 Auto Cast $160/Ton
#2 Cast $110/Ton
Motor Blocks $110/Ton