SCRAP METAL PRICES AND NEWS UPDATE
As per GMS Weekly – After something of a lifeless and inert month in the ship-recycling industry – especially with Turkey, Pakistan and Bangladesh being on holiday celebrating Ramadan and Eid – this week, there were brief stirrings that hinted that there is still some life left in the market.
For week 29 of 2016, GMS demo rankings for the week are as below:
|Demo Ranking||Country||Market Sentiment||GEN CARGO
|1||Bangladesh||Declining||USD 245/lt ldt||USD 275/lt ldt|
|2||India||Declining||USD 240/lt ldt||USD 270/lt ldt|
|3||Pakistan||Declining||USD 235/lt ldt||USD 265/lt ldt|
|4||China||Stable||USD 170/lt ldt||USD 180/lt ldt|
|5||Turkey||Stable||USD 165/lt ldt||USD 170/lt ldt|
According to Yieh Corp – Feng Hsin Iron & Steel Co, one of the major electric furnace mills in Taiwan, has announced to hold rebar, scarp purchasing prices unchanged this week. After price announcement, Feng Hsin’s rebar base price will be NT$12,800/ton and its scrap purchasing price will be NT$5,900~6,400/ton. At the same time, Feng Hsin has announced to hold its steel section flat for this week which base price will stay at NT$17,400/ton.
In other news reported by Yieh – The latest United States steel scrap H1 and H2 (80:20) to Turkey prices are at US$219/ton CFR; those for scrap shredder prices are at US$224/ton CFR; for bonus grade scarp prices are at US$229/ton, down by US$16/ton compared to the second week of June.
Scrap Metal Prices by the pound and ton
SCRAP STEEL PRICES
Scrap Plate and Struct 2’x 5′ $100 – $60 gt
Scrap Plate and Struct scrap (unprep) $80 gt – $50 gt
Scrap Heavy Melt 2’x 5′ $100 gt -$50 gt
Scrap Heavy Melt scrap (unprep) $70 gt- $30 gt
Scrap automobiles (must have title) $50 gt – $25 gt
Scrap Auto Cast $170 gt – $115 gt
Scrap Yard Cast(breakable) $50 gt – $20 gt
Scrap Sheet Iron $60 gt – $30 gt
SCRAP COPPER PRICES
Scrap Bare Bright Copper $1.85 lb.- $1.60 lb.
Scrap #1 Copper $1.78 lb. – $1.55 lb.
Scrap #2 Copper $1.65 lb. – $1.47 lb.
Scrap insul Hvy #1 copper Wire 85% Recovery $1.35 lb. – $1.20 lb.
Scrap insulated Light Wire 50% Recovery $0.62 lb. – $0.40 lb.
Scrap EDM Wire $1.30 lb. – $1.14 lb.
Scrap Brass (hard) low lead $1.50 lb. – 1.34 lb.
Scrap copper Rads $1.20 lb. – $1.06 lb.
Scrap Brass (red) $1.41 lb. – $1.26 lb.
Scrap Brass (yellow) $1.30 lb. – $1.20 lb.
Source Iron Mike Enterrises