Homescrap-metal-pricesLatest Scrap Metal Prices News and Info For Sept 5 2016

SCRAP METAL PRICES REPORT FOR September 5, 2016

YIEH reports the following:

The Japanese scrap metal market is expected to run stably in September. Although there are uncertain factors may affect scrap market currently, some suppliers expect not too fluctuations in scrap market.

Tokyo Steel raised the all mills’ purchasing prices of scrap at ¥500/ton on September 1th. Therefore, several electric arc furnace steel mills in Kanto region also raised their prices further. Japanese steel production is estimated about 35 million tons in September, output was particularly low, compared with the previous September’s level.

US H1 scrap prices averaged at US$210.17/long ton on August 22th, holding steady from the previous week.

The average prices of H1 scraps in Pittsburgh were at US$214.5/long ton, keeping unchanged; those in Chicago were at US$227.5/long ton, holding steady; and those in Philadelphia were at US$188.5/long ton, keeping unchanged; all in comparison with the previous week.

US STEEL PRICE ROUNDUP FROM MEPS

According to MEPS, US selling figures for hot rolled coil declined for the second successive month, in August. Delivery lead times are reported to be between two and four weeks, as domestic demand is weak. Market participants noted that activity is expected to pick up, in the near term, as steel buyers replenish low stock levels.

Hot rolled plate transaction values reduced significantly, in August, compared with those in July. Delivery lead times are as short as four weeks, as demand from the agriculture, heavy equipment and energy sectors remains sluggish. Producers are offering discounted prices to secure orders and protect market share.

A number of market participants noted that cold rolled coil producers were determined to retain list prices at July levels, despite market activity being quiet because of the traditional summer slowdown. Delivery lead times remain at between eight and ten weeks with a number of domestic mills reporting full order books to November/December. Competitively-priced offers from suppliers in Vietnam and Italy were reported, this month.

Coated coil selling figures, in August, are similar to those in our previous report. Despite the traditional summer slowdown, a number of steel buyers reported that local producers were able to conduct the majority of their business at current price levels. Domestic availability of hot dipped galvanised material remains tight, especially for non-contract customers.

In the US, market participants indicated that wire rod transaction values were mirroring scrap costs, with little or no movement on pricing, over the past four weeks. Buyers of mesh quality wire rod remarked that competitively-priced offshore material, particularly from Turkey and Switzerland, was readily available at the ports.

Beam producers maintained current selling figures despite import prices slightly softening, in recent weeks. Offshore material, particularly from Europe, is readily available at US ports. Domestic demand is firm.

Rebar transaction values were steady, in August, for the third successive month, as domestic demand remained relatively sluggish. Import prices, from Taiwan and Turkey, softened, in recent weeks.

SHIP BREAKING PRICES

For week 34 of 2016, GMS demo rankings for the week are as below:

 

 Demo Ranking Country Market Sentiment GEN CARGO

Prices

TANKER

Prices

1 Bangladesh Improving USD 250/lt ldt USD 280/lt ldt
2 India Improving USD 245/lt ldt USD 275/lt ldt
3 Pakistan Declining USD 240/lt ldt USD 270/lt ldt
4 China Stable USD 170/lt ldt USD 180/lt ldt
5 Turkey Stable USD 170/lt ldt USD 175lt ldt

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